Acadian Asset Management LLC reduced its position in Vericel Corp (NASDAQ:VCEL) by 10.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 482,129 shares of the biotechnology company’s stock after selling 53,639 shares during the quarter. Acadian Asset Management LLC’s holdings in Vericel were worth $6,821,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Capital Fund Management S.A. bought a new stake in shares of Vericel in the 2nd quarter valued at $104,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Vericel in the 2nd quarter valued at $108,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Vericel during the 2nd quarter valued at $116,000. Commonwealth Equity Services LLC acquired a new position in shares of Vericel during the 2nd quarter valued at $123,000. Finally, Metropolitan Life Insurance Co. NY acquired a new position in shares of Vericel during the 2nd quarter valued at $128,000. 76.57% of the stock is currently owned by institutional investors.
Vericel stock opened at $16.65 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.48 and a current ratio of 7.72. Vericel Corp has a 12-month low of $3.30 and a 12-month high of $17.26. The firm has a market cap of $513.57 million, a P/E ratio of -33.30 and a beta of 3.36.
Vericel (NASDAQ:VCEL) last released its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.09. Vericel had a negative net margin of 23.35% and a negative return on equity of 37.86%. The company had revenue of $22.50 million for the quarter, compared to the consensus estimate of $18.14 million. The company’s revenue was up 57.3% compared to the same quarter last year. On average, equities research analysts expect that Vericel Corp will post -0.41 EPS for the current fiscal year.
In other Vericel news, insider Dominick Colangelo sold 75,000 shares of the company’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $15.02, for a total transaction of $1,126,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Steven C. Gilman sold 9,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $12.03, for a total transaction of $108,270.00. Following the transaction, the director now owns 9,000 shares in the company, valued at approximately $108,270. The disclosure for this sale can be found here. Insiders have sold a total of 114,000 shares of company stock worth $1,609,770 in the last quarter. 4.70% of the stock is owned by corporate insiders.
A number of research analysts recently issued reports on VCEL shares. BTIG Research reiterated a “buy” rating and set a $17.00 target price on shares of Vericel in a research report on Tuesday, August 7th. BidaskClub downgraded shares of Vericel from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Needham & Company LLC dropped their target price on shares of Vericel from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, August 8th. Finally, LADENBURG THALM/SH SH upgraded shares of Vericel from a “neutral” rating to a “buy” rating in a research report on Monday, July 16th. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Vericel has an average rating of “Buy” and a consensus price target of $16.75.
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Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, markets, and sells patient-specific expanded cellular therapies to repair and regenerate damaged tissues and organs. 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 Carticel, an autologous chondrocyte implant for the repair of symptomatic cartilage defects of the femoral condyle caused by acute or repetitive trauma in patients that have inadequate response to a prior arthroscopic or other surgical repair procedure.
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