Envestnet Asset Management Inc. Sells 14,776 Shares of Vericel Co. (NASDAQ:VCEL)

Envestnet Asset Management Inc. lowered its holdings in shares of Vericel Co. (NASDAQ:VCEL – Get Rating) by 16.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 76,091 shares of the biotechnology company’s stock after selling 14,776 shares during the period. Envestnet Asset Management Inc.’s holdings in Vericel were worth $2,004,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Vericel by 1.3% during the third quarter. BlackRock Inc. now owns 7,180,238 shares of the biotechnology company’s stock worth $166,583,000 after purchasing an additional 92,494 shares during the period. State Street Corp grew its stake in Vericel by 15.6% during the second quarter. State Street Corp now owns 3,400,735 shares of the biotechnology company’s stock worth $85,631,000 after purchasing an additional 458,219 shares during the period. Vanguard Group Inc. grew its stake in Vericel by 2.8% during the third quarter. Vanguard Group Inc. now owns 3,234,095 shares of the biotechnology company’s stock worth $75,031,000 after purchasing an additional 88,923 shares during the period. Conestoga Capital Advisors LLC grew its stake in Vericel by 53.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,346,776 shares of the biotechnology company’s stock worth $61,814,000 after purchasing an additional 818,455 shares during the period. Finally, Fred Alger Management LLC grew its stake in Vericel by 0.5% during the third quarter. Fred Alger Management LLC now owns 1,944,578 shares of the biotechnology company’s stock worth $45,114,000 after purchasing an additional 10,557 shares during the period.

Vericel Stock Down 1.3 %

VCEL stock opened at $32.51 on Friday. Vericel Co. has a twelve month low of $17.30 and a twelve month high of $35.46. The stock’s 50 day moving average is $30.81 and its 200-day moving average is $27.83. The firm has a market capitalization of $1.55 billion, a PE ratio of -87.86 and a beta of 1.77.

Vericel (NASDAQ:VCEL – Get Rating) last posted its earnings results on Thursday, February 23rd. The biotechnology company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.10. Vericel had a negative return on equity of 9.26% and a negative net margin of 10.11%. The company had revenue of $52.70 million for the quarter, compared to analyst estimates of $52.95 million. During the same quarter last year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts anticipate that Vericel Co. will post -0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VCEL has been the subject of several recent analyst reports. Stephens raised their target price on Vericel from $39.00 to $42.00 in a research note on Thursday, May 11th. HC Wainwright reissued a “buy” rating and issued a $37.00 price objective on shares of Vericel in a research note on Friday, January 27th. StockNews.com began coverage on Vericel in a research note on Thursday. They issued a “hold” rating for the company. Finally, Truist Financial raised their price objective on Vericel from $31.00 to $36.00 in a research note on Thursday, May 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Vericel has an average rating of “Hold” and a consensus target price of $37.25.

Vericel Company Profile

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Vericel Corp. engages in the research, product development, manufacture, and distribution of patient-specific, expanded cellular therapies for use in the treatment of patients with diseases. Its product portfolio includes MACI and Epicel. The MACI portfolio is FDA-approved product that applies the process of tissue engineering to grow cells on scaffolds using healthy cartilage tissue from the patient’s own knee.