Northern Trust Corp Raises Position in Vericel Corp (VCEL)

Northern Trust Corp boosted its position in shares of Vericel Corp (NASDAQ:VCEL) by 472.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 432,542 shares of the biotechnology company’s stock after acquiring an additional 357,014 shares during the period. Northern Trust Corp owned approximately 1.01% of Vericel worth $4,196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. bought a new position in Vericel during the second quarter valued at about $487,000. Rhumbline Advisers bought a new position in Vericel during the second quarter valued at about $340,000. Castleark Management LLC increased its stake in Vericel by 27.2% during the second quarter. Castleark Management LLC now owns 720,585 shares of the biotechnology company’s stock valued at $6,990,000 after acquiring an additional 154,068 shares during the period. First Washington CORP increased its stake in Vericel by 18.7% during the second quarter. First Washington CORP now owns 656,550 shares of the biotechnology company’s stock valued at $6,369,000 after acquiring an additional 103,380 shares during the period. Finally, Chicago Equity Partners LLC bought a new position in Vericel during the second quarter valued at about $130,000. Hedge funds and other institutional investors own 76.56% of the company’s stock.

Several equities analysts recently issued reports on VCEL shares. Needham & Company LLC lowered their price target on Vericel from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, August 8th. BidaskClub downgraded Vericel from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Finally, BTIG Research reaffirmed a “buy” rating and set a $17.00 price objective on shares of Vericel in a report on Tuesday, August 7th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $16.75.

NASDAQ VCEL opened at $16.69 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.71 and a current ratio of 7.96. The company has a market cap of $723.47 million, a price-to-earnings ratio of -33.38 and a beta of 3.36. Vericel Corp has a 1-year low of $3.90 and a 1-year high of $17.51.

Vericel (NASDAQ:VCEL) last released its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. The company had revenue of $22.50 million for the quarter, compared to the consensus estimate of $18.14 million. Vericel had a negative return on equity of 17.39% and a negative net margin of 15.80%. The firm’s revenue was up 57.3% compared to the same quarter last year. On average, sell-side analysts predict that Vericel Corp will post -0.23 EPS for the current year.

In other news, Director Steven C. Gilman sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $12.03, for a total value of $108,270.00. Following the transaction, the director now directly owns 9,000 shares of the company’s stock, valued at approximately $108,270. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dominick Colangelo sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $15.02, for a total value of $1,126,500.00. The disclosure for this sale can be found here. Insiders have sold 179,000 shares of company stock worth $2,617,770 over the last ninety days. Company insiders own 3.30% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Northern Trust Corp Raises Position in Vericel Corp (VCEL)” was originally reported by WKRB News and is owned by of WKRB News. If you are accessing this article on another publication, it was illegally copied and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.wkrb13.com/2018/11/23/northern-trust-corp-raises-position-in-vericel-corp-vcel.html.

Vericel Profile

Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, markets, and sells patient-specific expanded cellular therapies to repair and regenerate damaged tissues and organs. It markets autologous cell therapy products, including MACI, an autologous cellularized scaffold product for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; and Carticel, an autologous chondrocyte implant for the repair of symptomatic cartilage defects of the femoral condyle caused by acute or repetitive trauma in patients that have inadequate response to a prior arthroscopic or other surgical repair procedure.

Featured Article: What is the Dow Jones Industrial Average (DJIA)?

Want to see what other hedge funds are holding VCEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vericel Corp (NASDAQ:VCEL).

Institutional Ownership by Quarter for Vericel (NASDAQ:VCEL)

Receive News & Ratings for Vericel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vericel and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply