Intech Investment Management LLC Lowers Stake in Vericel Corporation $VCEL

Intech Investment Management LLC cut its stake in Vericel Corporation (NASDAQ:VCEL) by 42.8% during the third quarter, HoldingsChannel reports. The firm owned 30,887 shares of the biotechnology company’s stock after selling 23,142 shares during the period. Intech Investment Management LLC’s holdings in Vericel were worth $972,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its holdings in Vericel by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 14,882 shares of the biotechnology company’s stock valued at $468,000 after buying an additional 277 shares in the last quarter. Osaic Holdings Inc. grew its stake in Vericel by 13.7% in the 2nd quarter. Osaic Holdings Inc. now owns 2,937 shares of the biotechnology company’s stock worth $125,000 after acquiring an additional 353 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Vericel by 0.8% during the second quarter. California State Teachers Retirement System now owns 45,404 shares of the biotechnology company’s stock worth $1,932,000 after acquiring an additional 382 shares during the period. EFG Asset Management North America Corp. raised its stake in shares of Vericel by 0.3% during the third quarter. EFG Asset Management North America Corp. now owns 138,775 shares of the biotechnology company’s stock valued at $4,367,000 after acquiring an additional 429 shares in the last quarter. Finally, Amalgamated Bank raised its stake in shares of Vericel by 3.5% during the third quarter. Amalgamated Bank now owns 14,774 shares of the biotechnology company’s stock valued at $465,000 after acquiring an additional 497 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on VCEL shares. Truist Financial dropped their price objective on Vericel from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. Wall Street Zen lowered Vericel from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research cut Vericel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Vericel in a research report on Monday, December 29th. Finally, HC Wainwright lifted their price objective on Vericel from $60.00 to $64.00 and gave the company a “buy” rating in a report on Friday, February 27th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $58.50.

Vericel Stock Down 0.9%

Vericel stock opened at $33.71 on Monday. The firm has a market cap of $1.71 billion, a P/E ratio of 108.74 and a beta of 1.22. The business has a fifty day moving average of $36.80 and a two-hundred day moving average of $36.07. Vericel Corporation has a twelve month low of $29.24 and a twelve month high of $50.36.

Vericel (NASDAQ:VCEL) last announced its quarterly earnings results on Thursday, February 26th. The biotechnology company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The business had revenue of $92.92 million for the quarter, compared to the consensus estimate of $92.66 million. Vericel had a return on equity of 5.17% and a net margin of 5.98%.The business’s revenue was up 23.3% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. Equities analysts expect that Vericel Corporation will post 0.14 earnings per share for the current year.

Vericel Company Profile

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.