Brown Capital Management LLC Sells 861,020 Shares of Vericel Corporation $VCEL

Brown Capital Management LLC cut its stake in shares of Vericel Corporation (NASDAQ:VCEL) by 30.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,950,989 shares of the biotechnology company’s stock after selling 861,020 shares during the quarter. Vericel makes up approximately 2.5% of Brown Capital Management LLC’s portfolio, making the stock its 16th biggest position. Brown Capital Management LLC’s holdings in Vericel were worth $61,398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in VCEL. Arizona State Retirement System lifted its stake in shares of Vericel by 1.9% in the third quarter. Arizona State Retirement System now owns 14,882 shares of the biotechnology company’s stock worth $468,000 after acquiring an additional 277 shares during the period. Osaic Holdings Inc. raised its holdings in Vericel by 13.7% during the 2nd quarter. Osaic Holdings Inc. now owns 2,937 shares of the biotechnology company’s stock worth $125,000 after purchasing an additional 353 shares during the last quarter. California State Teachers Retirement System raised its holdings in Vericel by 0.8% during the 2nd quarter. California State Teachers Retirement System now owns 45,404 shares of the biotechnology company’s stock worth $1,932,000 after purchasing an additional 382 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Vericel by 2.8% in the 2nd quarter. Maryland State Retirement & Pension System now owns 14,795 shares of the biotechnology company’s stock worth $630,000 after purchasing an additional 408 shares during the period. Finally, EFG Asset Management North America Corp. boosted its stake in shares of Vericel by 0.3% in the 3rd quarter. EFG Asset Management North America Corp. now owns 138,775 shares of the biotechnology company’s stock valued at $4,367,000 after purchasing an additional 429 shares during the last quarter.

Vericel Price Performance

VCEL stock opened at $36.94 on Tuesday. The company’s 50-day moving average is $37.58 and its 200-day moving average is $36.26. The stock has a market capitalization of $1.87 billion, a PE ratio of 153.92 and a beta of 1.24. Vericel Corporation has a 1 year low of $29.24 and a 1 year high of $63.00.

Vericel (NASDAQ:VCEL) last issued its earnings results on Thursday, November 6th. The biotechnology company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.12. The business had revenue of $67.50 million during the quarter, compared to analyst estimates of $64.57 million. Vericel had a return on equity of 4.30% and a net margin of 5.06%.The firm’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.02) EPS. On average, analysts anticipate that Vericel Corporation will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on VCEL shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Vericel in a research note on Monday, December 29th. Wall Street Zen raised Vericel from a “hold” rating to a “buy” rating in a research report on Sunday, January 25th. Zacks Research lowered Vericel from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Truist Financial decreased their target price on Vericel from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Vericel currently has a consensus rating of “Moderate Buy” and an average price target of $57.50.

Vericel Company Profile

Vericel Corporation is a biotechnology company specializing in the development, manufacturing and commercialization of cell-based therapies for patients with severe diseases and conditions. The company’s expertise lies in regenerative medicine, where it harnesses the power of autologous cell processing to create products designed to restore function and promote healing in damaged tissues.

Vericel currently markets two FDA-approved therapies. MACI® (autologous cultured chondrocytes on porcine collagen membrane) is indicated for the repair of symptomatic cartilage defects of the knee in adult patients.