Nicholas Investment Partners LP Purchases New Stake in Vericel Co. (NASDAQ:VCEL)

Nicholas Investment Partners LP acquired a new stake in Vericel Co. (NASDAQ:VCEL - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 113,934 shares of the biotechnology company's stock, valued at approximately $5,227,000. Nicholas Investment Partners LP owned approximately 0.23% of Vericel at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VCEL. Congress Asset Management Co. MA increased its stake in shares of Vericel by 509.1% during the 1st quarter. Congress Asset Management Co. MA now owns 836,481 shares of the biotechnology company's stock worth $43,514,000 after purchasing an additional 699,147 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in shares of Vericel in the first quarter worth $12,782,000. Victory Capital Management Inc. raised its holdings in shares of Vericel by 51.5% in the second quarter. Victory Capital Management Inc. now owns 611,146 shares of the biotechnology company's stock worth $28,039,000 after acquiring an additional 207,714 shares during the last quarter. Geneva Capital Management LLC lifted its position in shares of Vericel by 43.6% in the first quarter. Geneva Capital Management LLC now owns 679,165 shares of the biotechnology company's stock valued at $35,330,000 after acquiring an additional 206,202 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Vericel by 61.2% during the 1st quarter. Principal Financial Group Inc. now owns 410,488 shares of the biotechnology company's stock worth $21,354,000 after purchasing an additional 155,871 shares in the last quarter.

Insider Transactions at Vericel

In related news, insider Sean C. Flynn sold 6,772 shares of the firm's stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $45.02, for a total transaction of $304,875.44. Following the sale, the insider now directly owns 487 shares in the company, valued at approximately $21,924.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Vericel news, insider Sean C. Flynn sold 1,474 shares of the company's stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $45.84, for a total value of $67,568.16. Following the completion of the transaction, the insider now directly owns 487 shares of the company's stock, valued at approximately $22,324.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sean C. Flynn sold 6,772 shares of Vericel stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $45.02, for a total value of $304,875.44. Following the sale, the insider now directly owns 487 shares in the company, valued at $21,924.74. The disclosure for this sale can be found here. Insiders sold 46,291 shares of company stock valued at $2,329,169 over the last quarter. Company insiders own 5.20% of the company's stock.

Vericel Price Performance

NASDAQ VCEL traded up $0.57 during mid-day trading on Thursday, hitting $44.27. The company's stock had a trading volume of 373,922 shares, compared to its average volume of 439,161. The firm has a market capitalization of $2.15 billion, a P/E ratio of -4,427.00 and a beta of 1.67. Vericel Co. has a 52-week low of $30.18 and a 52-week high of $54.10. The stock's fifty day simple moving average is $48.43 and its two-hundred day simple moving average is $47.41.

Vericel (NASDAQ:VCEL - Get Free Report) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($0.10) EPS for the quarter, meeting analysts' consensus estimates of ($0.10). Vericel had a net margin of 0.37% and a return on equity of 0.35%. The business had revenue of $52.70 million for the quarter, compared to the consensus estimate of $52.59 million. During the same quarter last year, the firm posted ($0.11) EPS. The business's revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities analysts forecast that Vericel Co. will post 0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VCEL. Truist Financial upped their target price on shares of Vericel from $56.00 to $57.00 and gave the company a "buy" rating in a report on Tuesday, July 16th. StockNews.com upgraded Vericel from a "sell" rating to a "hold" rating in a report on Thursday, September 5th. BTIG Research reduced their target price on Vericel from $56.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, July 15th. Canaccord Genuity Group started coverage on Vericel in a report on Friday, August 9th. They issued a "buy" rating and a $57.00 price target for the company. Finally, Stephens increased their price objective on shares of Vericel from $56.00 to $58.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Vericel presently has an average rating of "Moderate Buy" and a consensus price target of $55.75.

Vericel Profile

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.