12,091 Vericel Corporation $VCEL Shares Bought by Virtus Advisers LLC

Virtus Advisers LLC boosted its stake in shares of Vericel Corporation (NASDAQ:VCEL) by 77.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,661 shares of the biotechnology company’s stock after purchasing an additional 12,091 shares during the period. Virtus Advisers LLC owned approximately 0.05% of Vericel worth $1,110,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Vericel in the second quarter worth $360,023,000. William Blair Investment Management LLC purchased a new stake in shares of Vericel during the second quarter valued at $88,662,000. Aberdeen Group plc grew its holdings in shares of Vericel by 204.7% during the third quarter. Aberdeen Group plc now owns 2,164,250 shares of the biotechnology company’s stock valued at $86,873,000 after buying an additional 1,454,012 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Vericel in the 2nd quarter valued at $45,210,000. Finally, TimesSquare Capital Management LLC acquired a new position in shares of Vericel in the 2nd quarter valued at $24,463,000.

Vericel Stock Performance

Shares of VCEL traded down $0.46 during trading hours on Friday, hitting $56.96. The stock had a trading volume of 698,761 shares, compared to its average volume of 911,978. The firm has a 50-day moving average price of $42.78 and a 200 day moving average price of $39.41. Vericel Corporation has a fifty-two week low of $28.95 and a fifty-two week high of $59.75. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 89.00 and a beta of 1.08.

Vericel (NASDAQ:VCEL) last released its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.06 by $0.21. Vericel had a net margin of 10.27% and a return on equity of 9.09%. The company had revenue of $85.37 million for the quarter, compared to analyst estimates of $77.95 million. During the same quarter last year, the business earned $0.10 earnings per share. The firm’s revenue was up 26.5% on a year-over-year basis. As a group, analysts predict that Vericel Corporation will post 0.78 EPS for the current fiscal year.

Insider Activity

In related news, insider Jonathan Siegal sold 1,500 shares of Vericel stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $52.90, for a total value of $79,350.00. Following the completion of the transaction, the insider owned 1,259 shares in the company, valued at $66,601.10. The trade was a 54.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean C. Flynn sold 15,000 shares of Vericel stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $51.92, for a total value of $778,800.00. Following the completion of the transaction, the insider owned 1,990 shares of the company’s stock, valued at approximately $103,320.80. This represents a 88.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 49,008 shares of company stock valued at $2,701,078. Insiders own 7.60% of the company’s stock.

Analyst Ratings Changes

VCEL has been the subject of a number of research analyst reports. TD Cowen raised their target price on Vericel from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Stephens boosted their price target on Vericel from $55.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, November 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Vericel in a research note on Thursday, October 29th. Truist Financial increased their price objective on Vericel from $52.00 to $65.00 and gave the company a “buy” rating in a report on Friday, November 6th. Finally, Canaccord Genuity Group set a $60.00 price objective on Vericel in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $62.00.

Vericel Company Profile

Vericel Corporation is a biopharmaceutical company focused on developing and commercializing cell therapies and other treatments for serious conditions. Based in Cambridge, Massachusetts, the company markets its products primarily in the United States. Its products include MACI, an implant made from a patient’s own cultured cartilage cells used to repair certain cartilage defects in the knee, and Epicel, a cultured skin graft used to treat patients with deep burns. Vericel also commercializes NexoBrid in the United States, an enzyme-based treatment for removing dead tissue from severe thermal burns.