State Street Corp Holdings in Vericel Co.

State Street Corp has adjusted its investment in Vericel Co. (NASDAQ:VCEL) by decreasing its position by 2.2% during the 3rd quarter of this fiscal year, as reported in their latest Form 13F filing with the Securities and Exchange Commission. Following the sale of 55,227 shares, State Street now holds 2,429,558 shares of the biotechnology company. This stake is valued at approximately $102.65 million, representing roughly 4.92% of Vericel's total outstanding shares.

Other Institutional Changes

Several other institutional investors have also modified their holdings in Vericel recently. Notably, Geneva Capital Management LLC increased its shares in Vericel by 61.4% during the 3rd quarter, now owning 1,104,386 shares worth around $46.66 million after purchasing an additional 420,078 shares. Congress Asset Management Co. raised its stake by 37.4%, holding 1,291,720 shares valued at $54.57 million after acquiring an extra 351,550 shares.

Federated Hermes Inc. expanded its investment by 34.9% in the second quarter, now with a total of 840,787 shares valued at $38.58 million after buying another 217,437 shares. TimesSquare Capital Management LLC saw a 54.8% increase during the 3rd quarter, bringing its total to 590,145 shares worth $24.93 million after purchasing 209,009 shares. Additionally, Victory Capital Management Inc. boosted its holdings by 51.5%, now owning 611,146 shares valued at $28.04 million after acquiring 207,714 additional shares.

Insider Trading Activity

In other updates regarding Vericel, insider Jonathan Mark Hopper sold 10,000 shares on December 2nd at an average price of $58.72, totaling about $587,200. This sale led to a 14.63% decrease in his ownership, and he retains 58,371 shares valued at approximately $3.43 million. Furthermore, Director Paul K. Wotton sold 2,600 shares for a total of $152,672, representing an 8.67% decrease in his ownership.

In recent months, insiders have sold 44,266 shares collectively valued at $2.09 million, with insider ownership amounting to 5.20%.

Analyst Insights

Vericel has attracted attention from analysts, with several recent research reports. Canaccord Genuity reiterated a "buy" rating on the stock with a target price of $60.00. BTIG Research raised their target from $56 to $66, also assigning a "buy" rating. Conversely, StockNews.com downgraded Vericel from a "hold" to a "sell" rating, while Stephens upgraded it to a "strong-buy" rating on December 2nd. HC Wainwright maintained a "buy" rating with a $60.00 target price. Overall, one analyst rated the stock as a sell, six suggest buying, and one recommends a strong buy, culminating in an average rating of "Moderate Buy" with a target price of $59.71 according to MarketBeat.

Stock Performance

Vericel's stock was priced at $57.47 at the opening on Monday. With a market capitalization of $2.84 billion and a P/E ratio of 957.83, Vericel has shown considerable fluctuations, with a 12-month range between a low of $32.31 and a high of $61.49. The company’s fifty-day moving average is $50.23, while the 200-day average stands at $47.94.

Vericel recently released its quarterly earnings on November 7th, posting an earnings per share of ($0.02), exceeding expectations of ($0.05). The company reported revenue of $57.91 million, ahead of the estimated $55.32 million. Their net margin was 1.56%, with a return on equity at 1.48%. Analysts foresee a projected earnings per share of 0.13 for the current fiscal year.

About Vericel Corporation

Vericel Corporation is a biopharmaceutical company involved in the research, development, manufacturing, and distribution of cellular therapies targeted at sports medicine and severe burn care in North America. The company offers several autologous cell therapy products, including MACI for knee cartilage repair, Epicel for skin replacement in burn patients, and NexoBrid for eschar removal in thermal burns.

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