Federated Hermes Inc. Decreases Position in Vericel Corporation $VCEL

Federated Hermes Inc. decreased its holdings in Vericel Corporation (NASDAQ:VCEL) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,145,259 shares of the biotechnology company’s stock after selling 48,500 shares during the period. Federated Hermes Inc. owned about 2.27% of Vericel worth $48,731,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Strs Ohio purchased a new stake in Vericel during the 1st quarter worth about $812,000. Voya Investment Management LLC grew its position in shares of Vericel by 68.7% during the first quarter. Voya Investment Management LLC now owns 24,664 shares of the biotechnology company’s stock worth $1,101,000 after buying an additional 10,048 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Vericel by 38.4% during the second quarter. Russell Investments Group Ltd. now owns 118,856 shares of the biotechnology company’s stock worth $5,057,000 after buying an additional 32,976 shares during the period. Royal Bank of Canada raised its holdings in Vericel by 6.2% in the first quarter. Royal Bank of Canada now owns 950,486 shares of the biotechnology company’s stock valued at $42,410,000 after acquiring an additional 55,436 shares in the last quarter. Finally, Congress Asset Management Co. raised its holdings in Vericel by 18.0% in the second quarter. Congress Asset Management Co. now owns 1,742,324 shares of the biotechnology company’s stock valued at $74,136,000 after acquiring an additional 265,606 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Vericel in a research report on Tuesday, November 25th. Zacks Research downgraded shares of Vericel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Wall Street Zen upgraded Vericel from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. BTIG Research cut Vericel from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 17th. Finally, Truist Financial reiterated a “buy” rating and issued a $50.00 price objective (up previously from $41.00) on shares of Vericel in a report on Monday, November 10th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.75.

Vericel Trading Up 3.0%

Vericel stock opened at $37.30 on Tuesday. The stock has a 50 day moving average of $36.64 and a two-hundred day moving average of $37.45. Vericel Corporation has a twelve month low of $29.24 and a twelve month high of $63.00. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 155.42 and a beta of 1.20.

Vericel (NASDAQ:VCEL) last released its quarterly earnings results on Thursday, November 6th. The biotechnology company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.12. Vericel had a return on equity of 4.30% and a net margin of 5.06%.The business had revenue of $67.50 million during the quarter, compared to analysts’ expectations of $64.57 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities analysts predict that Vericel Corporation will post 0.14 earnings per share for the current 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.