Federated Hermes Inc. Has $28.15 Million Holdings in Vericel Corporation $VCEL

Federated Hermes Inc. cut its position in shares of Vericel Corporation (NASDAQ:VCEL) by 21.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 894,608 shares of the biotechnology company’s stock after selling 250,651 shares during the period. Federated Hermes Inc. owned about 1.77% of Vericel worth $28,153,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in Vericel by 38.4% during the second quarter. Russell Investments Group Ltd. now owns 118,856 shares of the biotechnology company’s stock worth $5,057,000 after acquiring an additional 32,976 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in shares of Vericel by 74.3% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 398,960 shares of the biotechnology company’s stock valued at $16,976,000 after purchasing an additional 170,006 shares in the last quarter. Atria Investments Inc grew its holdings in shares of Vericel by 44.3% in the 2nd quarter. Atria Investments Inc now owns 10,273 shares of the biotechnology company’s stock worth $437,000 after purchasing an additional 3,154 shares during the last quarter. Summit Creek Advisors LLC increased its position in shares of Vericel by 35.1% during the 3rd quarter. Summit Creek Advisors LLC now owns 531,603 shares of the biotechnology company’s stock worth $16,730,000 after purchasing an additional 138,124 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in Vericel by 2.9% during the 2nd quarter. Yousif Capital Management LLC now owns 19,044 shares of the biotechnology company’s stock valued at $810,000 after purchasing an additional 532 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have weighed in on VCEL. Truist Financial decreased their price objective on shares of Vericel from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. Zacks Research downgraded Vericel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Wall Street Zen raised Vericel from a “hold” rating to a “buy” rating in a report on Sunday, January 25th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Vericel in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Vericel has a consensus rating of “Moderate Buy” and an average target price of $57.50.

Vericel Price Performance

VCEL opened at $35.98 on Friday. The stock has a market capitalization of $1.82 billion, a P/E ratio of 149.92 and a beta of 1.17. The company’s 50 day simple moving average is $37.62 and its 200-day simple moving average is $36.27. Vericel Corporation has a one year low of $29.24 and a one year high of $63.00.

Vericel (NASDAQ:VCEL) last posted its quarterly earnings data on Thursday, November 6th. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.12. The firm had revenue of $67.50 million for the quarter, compared to the consensus estimate of $64.57 million. Vericel had a return on equity of 4.30% and a net margin of 5.06%.The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) EPS. As a group, analysts anticipate that Vericel Corporation will post 0.14 EPS for the current year.

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.