William Blair Investment Management LLC Purchases 66,464 Shares of Vericel Co. (NASDAQ:VCEL)

William Blair Investment Management LLC grew its position in Vericel Co. (NASDAQ:VCEL - Free Report) by 7.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 908,141 shares of the biotechnology company's stock after purchasing an additional 66,464 shares during the period. William Blair Investment Management LLC owned about 1.87% of Vericel worth $41,666,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in VCEL. Scholtz & Company LLC acquired a new position in shares of Vericel in the 2nd quarter worth approximately $1,357,000. Zions Bancorporation N.A. bought a new position in Vericel in the 2nd quarter valued at $1,234,000. Federated Hermes Inc. boosted its stake in Vericel by 34.9% in the second quarter. Federated Hermes Inc. now owns 840,787 shares of the biotechnology company's stock worth $38,575,000 after purchasing an additional 217,437 shares in the last quarter. Nicholas Investment Partners LP bought a new stake in shares of Vericel during the second quarter worth $5,227,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Vericel in the second quarter valued at $1,826,000.

Vericel Stock Up 3.6 %

NASDAQ VCEL traded up $1.60 during trading on Friday, reaching $45.87. 329,593 shares of the stock traded hands, compared to its average volume of 438,542. The stock's 50-day moving average price is $48.41 and its 200 day moving average price is $47.39. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -4,582.42 and a beta of 1.67. Vericel Co. has a fifty-two week low of $30.18 and a fifty-two week high of $54.10.

Vericel (NASDAQ:VCEL - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). Vericel had a return on equity of 0.35% and a net margin of 0.37%. 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 business posted ($0.11) EPS. The firm's revenue was up 14.8% compared to the same quarter last year. Analysts anticipate that Vericel Co. will post 0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on VCEL shares. Canaccord Genuity Group initiated coverage on shares of Vericel in a report on Friday, August 9th. They set a "buy" rating and a $57.00 price objective on the stock. Stephens raised their price target on shares of Vericel from $56.00 to $58.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Canaccord Genuity Group assumed coverage on shares of Vericel in a research report on Friday, August 9th. They issued a "buy" rating and a $57.00 price objective for the company. BTIG Research decreased their price objective on Vericel from $56.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, July 15th. Finally, TD Cowen boosted their target price on Vericel from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Vericel presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.75.

Insider Activity at Vericel

In other news, CEO Dominick Colangelo sold 17,500 shares of the company's stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $51.40, for a total value of $899,500.00. Following the completion of the transaction, the chief executive officer now owns 220,937 shares in the company, valued at $11,356,161.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Joseph Anthony Mara, Jr. sold 5,000 shares of Vericel stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the sale, the chief financial officer now owns 14,436 shares of the company's stock, valued at approximately $721,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dominick Colangelo sold 17,500 shares of the company's stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $51.40, for a total value of $899,500.00. Following the transaction, the chief executive officer now directly owns 220,937 shares of the company's stock, valued at approximately $11,356,161.80. The disclosure for this sale can be found here. In the last three months, insiders sold 46,291 shares of company stock worth $2,329,169. 5.20% of the stock is owned by company insiders.

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.