Vericel Co. (NASDAQ:VCEL – Get Rating)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $26.01 and traded as high as $29.31. Vericel shares last traded at $28.81, with a volume of 253,076 shares traded.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the stock. Truist Financial lifted their target price on shares of Vericel from $29.00 to $31.00 and gave the stock a "hold" rating in a research report on Monday, February 27th. HC Wainwright reissued a "buy" rating and issued a $37.00 price target on shares of Vericel in a report on Friday, January 27th. Finally, StockNews.com initiated coverage on shares of Vericel in a report on Thursday, March 16th. They issued a "hold" rating on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $35.50.
Get Vericel alerts:Vericel Price Performance
The firm's 50 day moving average is $29.49 and its 200 day moving average is $26.01. The firm has a market cap of $1.36 billion, a P/E ratio of -80.03 and a beta of 1.72.
Vericel (NASDAQ:VCEL – Get Rating) last issued its earnings results on Thursday, February 23rd. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.10. The business had revenue of $52.70 million during the quarter, compared to analysts' expectations of $52.95 million. Vericel had a negative net margin of 10.17% and a negative return on equity of 9.32%. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. As a group, analysts expect that Vericel Co. will post -0.26 EPS for the current year.
Insider Activity
In other news, CEO Dominick Colangelo sold 39,938 shares of the business's stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $27.13, for a total transaction of $1,083,517.94. Following the completion of the transaction, the chief executive officer now directly owns 157,066 shares of the company's stock, valued at $4,261,200.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.20% of the stock is owned by corporate insiders.
Institutional Trading of Vericel
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VCEL. Raymond James & Associates increased its holdings in Vericel by 83.1% during the first quarter. Raymond James & Associates now owns 105,015 shares of the biotechnology company's stock valued at $4,014,000 after buying an additional 47,673 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Vericel by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 459,334 shares of the biotechnology company's stock worth $17,556,000 after purchasing an additional 9,289 shares during the period. US Bancorp DE boosted its position in shares of Vericel by 600.3% in the first quarter. US Bancorp DE now owns 6,184 shares of the biotechnology company's stock worth $236,000 after purchasing an additional 5,301 shares during the period. Natixis Advisors L.P. bought a new position in shares of Vericel in the first quarter worth approximately $589,000. Finally, MetLife Investment Management LLC boosted its position in shares of Vericel by 58.1% in the first quarter. MetLife Investment Management LLC now owns 26,447 shares of the biotechnology company's stock worth $1,011,000 after purchasing an additional 9,717 shares during the period.
About Vericel
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Vericel Corp. engages in the research, product development, manufacture, and distribution of patient-specific, expanded cellular therapies for use in the treatment of patients with diseases. Its product portfolio includes MACI and Epicel. The MACI portfolio is FDA-approved product that applies the process of tissue engineering to grow cells on scaffolds using healthy cartilage tissue from the patient's own knee.
Further Reading
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