Federated Hermes Inc. Raises Holdings in Vericel Corporation (NASDAQ:VCEL)

Federated Hermes Inc. raised its position in Vericel Corporation (NASDAQ:VCEL) by 6.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,193,759 shares of the biotechnology company’s stock after purchasing an additional 71,386 shares during the period. Federated Hermes Inc.’s holdings in Vericel were worth $53,266,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new position in shares of Vericel in the fourth quarter worth about $57,000. Meeder Asset Management Inc. raised its holdings in Vericel by 8.4% in the 4th quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company’s stock valued at $129,000 after acquiring an additional 183 shares during the last quarter. GAMMA Investing LLC lifted its stake in Vericel by 34.8% in the 1st quarter. GAMMA Investing LLC now owns 2,895 shares of the biotechnology company’s stock worth $129,000 after purchasing an additional 748 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Vericel during the 4th quarter worth approximately $215,000. Finally, Syon Capital LLC purchased a new stake in shares of Vericel in the fourth quarter valued at approximately $257,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stephens reiterated an “overweight” rating and set a $67.00 price objective on shares of Vericel in a research report on Monday, June 16th. Truist Financial reduced their price target on Vericel from $61.00 to $51.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Finally, Wall Street Zen lowered shares of Vericel from a “hold” rating to a “sell” rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.14.

Vericel Stock Up 2.0%

NASDAQ:VCEL opened at $40.66 on Thursday. Vericel Corporation has a 52 week low of $34.87 and a 52 week high of $63.00. The stock’s fifty day moving average is $41.06 and its two-hundred day moving average is $45.89. The company has a market capitalization of $2.05 billion, a P/E ratio of 1,355.79 and a beta of 1.32.

Vericel (NASDAQ:VCEL) last issued its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.14). Vericel had a return on equity of 1.09% and a net margin of 1.25%. The business had revenue of $52.60 million for the quarter, compared to analyst estimates of $53.86 million. During the same period in the previous year, the business posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts anticipate that Vericel Corporation will post 0.14 earnings per share for the current fiscal year.

About Vericel

Vericel Corporation, a commercial-stage biopharmaceutical company, engages in the research, development, manufacture, and distribution of cellular therapies for sports medicine and severe burn care markets in North America. The company markets autologous cell therapy products comprising MACI, an autologous cultured chondrocytes on porcine collagen membrane for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns; and NexoBrid, a biological orphan product for eschar removal in adults with deep partial-thickness and/or full-thickness thermal burns.