Man Group plc Buys New Shares in Vericel Corporation $VCEL

Man Group plc purchased a new position in shares of Vericel Corporation (NASDAQ:VCEL) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 67,393 shares of the biotechnology company’s stock, valued at approximately $2,998,000. Man Group plc owned 0.13% of Vericel as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GW&K Investment Management LLC boosted its position in Vericel by 22.5% during the 4th quarter. GW&K Investment Management LLC now owns 1,580,967 shares of the biotechnology company’s stock worth $56,931,000 after purchasing an additional 290,795 shares during the period. Bank of America Corp DE lifted its stake in shares of Vericel by 19.7% during the first quarter. Bank of America Corp DE now owns 1,098,771 shares of the biotechnology company’s stock worth $35,347,000 after purchasing an additional 180,761 shares in the last quarter. Granite Investment Partners LLC lifted its stake in shares of Vericel by 66.6% during the first quarter. Granite Investment Partners LLC now owns 120,236 shares of the biotechnology company’s stock worth $3,868,000 after purchasing an additional 48,056 shares in the last quarter. Madison Asset Management LLC purchased a new stake in shares of Vericel in the second quarter worth about $2,230,000. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Vericel in the second quarter worth about $5,356,000.

Insider Transactions at Vericel

In other Vericel news, insider Sean C. Flynn sold 15,000 shares of Vericel stock in a transaction on Friday, June 26th. The shares were sold at an average price of $45.64, for a total value of $684,600.00. Following the completion of the transaction, the insider owned 1,647 shares of the company’s stock, valued at $75,169.08. The trade was a 90.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jonathan Siegal sold 4,500 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $48.90, for a total transaction of $220,050.00. Following the sale, the insider owned 1,078 shares of the company’s stock, valued at approximately $52,714.20. The trade was a 80.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 52,232 shares of company stock valued at $2,304,217 over the last 90 days. Insiders own 7.60% of the company’s stock.

Vericel Stock Performance

VCEL opened at $39.90 on Tuesday. The company has a market capitalization of $2.04 billion, a P/E ratio of 84.90 and a beta of 1.06. The company has a 50-day moving average of $44.90 and a 200-day moving average of $38.38. Vericel Corporation has a 1-year low of $28.95 and a 1-year high of $49.32.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wall Street Zen raised Vericel from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. TD Cowen increased their price objective on shares of Vericel from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Weiss Ratings raised shares of Vericel from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, July 31st. HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Vericel in a research note on Tuesday, July 28th. Finally, Canaccord Genuity Group set a $60.00 price target on shares of Vericel in a report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.40.

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.