UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 16,328 Shares of Vericel Corporation $VCEL

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Vericel Corporation (NASDAQ:VCEL) by 16.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,743 shares of the biotechnology company’s stock after selling 16,328 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of Vericel worth $3,726,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Vericel during the 2nd quarter worth approximately $360,023,000. William Blair Investment Management LLC acquired a new stake in shares of Vericel in the 2nd quarter valued at $88,662,000. Bank of America Corp DE bought a new position in shares of Vericel in the 2nd quarter valued at $45,210,000. TimesSquare Capital Management LLC bought a new stake in shares of Vericel during the 2nd quarter worth $24,463,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Vericel in the second quarter valued at about $17,723,000.

Vericel Stock Performance

Shares of NASDAQ VCEL opened at $38.99 on Thursday. The company’s 50 day moving average price is $44.39 and its 200-day moving average price is $38.57. Vericel Corporation has a 52-week low of $28.95 and a 52-week high of $49.32. The company has a market capitalization of $2.00 billion, a P/E ratio of 82.96 and a beta of 1.04.

Vericel (NASDAQ:VCEL) last posted its quarterly earnings data on Thursday, July 30th. The biotechnology company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.07. The firm had revenue of $77.46 million during the quarter, compared to analyst estimates of $72.70 million. Vericel had a return on equity of 6.91% and a net margin of 7.91%.The business’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period last year, the company posted ($0.01) EPS. Analysts forecast that Vericel Corporation will post 0.54 earnings per share for the current year.

Insider Activity at Vericel

In related news, insider Sean C. Flynn sold 15,000 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $45.64, for a total value of $684,600.00. Following the completion of the sale, the insider directly owned 1,647 shares of the company’s stock, valued at $75,169.08. The trade was a 90.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Joseph Anthony Mara, Jr. sold 5,000 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $44.75, for a total value of $223,750.00. Following the completion of the transaction, the chief financial officer owned 16,009 shares in the company, valued at approximately $716,402.75. The trade was a 23.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 52,232 shares of company stock valued at $2,304,217. Company insiders own 7.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on VCEL shares. TD Cowen lifted their price target on shares of Vericel from $55.00 to $58.00 and gave the company a “buy” rating in a report on Friday, July 31st. HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Vericel in a report on Tuesday, July 28th. Wall Street Zen upgraded Vericel from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Canaccord Genuity Group set a $60.00 target price on Vericel in a report on Thursday, July 30th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $58.00 price objective (up from $54.00) on shares of Vericel in a research note on Friday, July 31st. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.40.

About Vericel

Vericel Corporation is a biotechnology company specializing in the development, manufacturing and commercialization of cell-based therapies for patients with severe diseases and conditions. The company’s expertise lies in regenerative medicine, where it harnesses the power of autologous cell processing to create products designed to restore function and promote healing in damaged tissues.

Vericel currently markets two FDA-approved therapies. MACI® (autologous cultured chondrocytes on porcine collagen membrane) is indicated for the repair of symptomatic cartilage defects of the knee in adult patients.