Vericel Co. (NASDAQ:VCEL) Sees Large Drop in Short Interest

Vericel Co. (NASDAQ:VCEL) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totalling 3,840,000 shares, a decrease of 21.5% from the March 31st total of 4,890,000 shares. Based on an average trading volume of 931,100 shares, the days-to-cover ratio is currently 4.1 days.

NASDAQ:VCEL opened at $59.15 on Wednesday. Vericel has a 1 year low of $12.82 and a 1 year high of $64.89. The firm’s fifty day simple moving average is $56.49 and its 200 day simple moving average is $39.30. The firm has a market capitalization of $2.73 billion, a PE ratio of -5,915,000.00 and a beta of 3.11.

Vericel (NASDAQ:VCEL) last posted its earnings results on Tuesday, February 23rd. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $45.23 million for the quarter, compared to analyst estimates of $45.05 million. Vericel had a net margin of 0.12% and a return on equity of 0.13%.

In other Vericel news, CEO Dominick Colangelo sold 40,000 shares of the stock in a transaction that occurred on Monday, March 29th. The shares were sold at an average price of $51.01, for a total value of $2,040,400.00. Following the completion of the sale, the chief executive officer now owns 206,540 shares in the company, valued at approximately $10,535,605.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan Mark Hopper sold 17,924 shares of the stock in a transaction that occurred on Tuesday, March 30th. The stock was sold at an average price of $51.40, for a total transaction of $921,293.60. Following the completion of the sale, the insider now owns 27,966 shares of the company’s stock, valued at approximately $1,437,452.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,924 shares of company stock valued at $5,282,094. 4.30% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Scout Investments Inc. grew its position in Vericel by 6.7% in the 4th quarter. Scout Investments Inc. now owns 393,921 shares of the biotechnology company’s stock worth $12,164,000 after purchasing an additional 24,657 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Vericel by 302.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,595 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 1,950 shares during the last quarter. Virtu Financial LLC acquired a new stake in Vericel in the 4th quarter worth $245,000. Knights of Columbus Asset Advisors LLC grew its position in Vericel by 41.4% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 105,442 shares of the biotechnology company’s stock worth $3,256,000 after purchasing an additional 30,861 shares during the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in Vericel in the 4th quarter worth $211,000. Institutional investors own 93.11% of the company’s stock.

VCEL has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Vericel from a “sell” rating to a “hold” rating in a research report on Tuesday. LADENBURG THALM/SH SH increased their price target on shares of Vericel from $27.50 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, January 19th. SVB Leerink increased their price target on shares of Vericel from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 3rd. BTIG Research increased their price target on shares of Vericel from $45.00 to $56.00 in a research note on Monday, February 22nd. Finally, Truist increased their price target on shares of Vericel from $40.00 to $60.00 in a research note on Tuesday, February 16th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $48.63.

Vericel Company Profile

Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, and distributes cellular therapies for sports medicine and severe burn care markets in the United States. The company markets autologous cell therapy products comprising MACI, an autologous cellularized scaffold product for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; and Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns.

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