Vericel (NASDAQ:VCEL) Trading 5.7% Higher

Vericel Corp (NASDAQ:VCEL) shares traded up 5.7% on Thursday . The stock traded as high as $19.58 and last traded at $19.58. 689,757 shares changed hands during trading, an increase of 4% from the average session volume of 660,966 shares. The stock had previously closed at $18.53.

Several equities research analysts recently weighed in on the stock. Needham & Company LLC assumed coverage on shares of Vericel in a research report on Wednesday, August 5th. They set a “hold” rating for the company. Oppenheimer reaffirmed a “buy” rating and set a $32.00 price objective on shares of Vericel in a research report on Monday, September 21st. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of Vericel in a research report on Thursday, August 6th. Truist assumed coverage on shares of Vericel in a research report on Thursday, September 17th. They set a “buy” rating and a $24.00 price objective for the company. Finally, BTIG Research upped their price objective on shares of Vericel from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 23rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $23.50.

The company has a quick ratio of 5.92, a current ratio of 6.39 and a debt-to-equity ratio of 0.19. The stock has a market cap of $886.00 million, a price-to-earnings ratio of -1,958.00 and a beta of 2.88. The company has a 50 day simple moving average of $16.93 and a 200 day simple moving average of $14.46.

Vericel (NASDAQ:VCEL) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported ($0.18) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.03. The business had revenue of $20.00 million for the quarter, compared to analyst estimates of $19.31 million. The firm’s revenue was down 23.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS. As a group, analysts predict that Vericel Corp will post -0.17 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its stake in shares of Vericel by 3.3% in the first quarter. Nuveen Asset Management LLC now owns 783,743 shares of the biotechnology company’s stock valued at $7,187,000 after buying an additional 24,818 shares during the period. JPMorgan Chase & Co. increased its position in Vericel by 145.5% during the 1st quarter. JPMorgan Chase & Co. now owns 150,592 shares of the biotechnology company’s stock valued at $1,380,000 after purchasing an additional 89,251 shares during the period. Geode Capital Management LLC increased its position in Vericel by 7.5% during the 1st quarter. Geode Capital Management LLC now owns 664,107 shares of the biotechnology company’s stock valued at $6,089,000 after purchasing an additional 46,498 shares during the period. Two Sigma Advisers LP increased its position in Vericel by 19.5% during the 1st quarter. Two Sigma Advisers LP now owns 112,100 shares of the biotechnology company’s stock valued at $1,028,000 after purchasing an additional 18,300 shares during the period. Finally, State Street Corp increased its position in Vericel by 1.2% during the 1st quarter. State Street Corp now owns 1,779,185 shares of the biotechnology company’s stock valued at $16,315,000 after purchasing an additional 20,293 shares during the period. 94.98% of the stock is owned by institutional investors.

About Vericel (NASDAQ:VCEL)

Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, and distributes cellular therapies for sports medicine and severe burn care markets. It markets autologous cell therapy products, including MACI, an autologous cellularized scaffold product for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; and Epicel, a permanent skin replacement humanitarian use device for the treatment of patients with deep-dermal or full-thickness burns.

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