Cadence Capital Management LLC Invests $3.40 Million in Vericel Corp (VCEL)

Cadence Capital Management LLC acquired a new position in Vericel Corp (NASDAQ:VCEL) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 240,002 shares of the biotechnology company’s stock, valued at approximately $3,396,000.

Several other hedge funds have also bought and sold shares of VCEL. Capital Fund Management S.A. bought a new position in shares of Vericel in the 2nd quarter worth about $104,000. Quantitative Systematic Strategies LLC bought a new position in shares of Vericel in the 2nd quarter worth about $108,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Vericel in the 2nd quarter worth about $116,000. Commonwealth Equity Services LLC bought a new position in shares of Vericel in the 2nd quarter worth about $123,000. Finally, Metropolitan Life Insurance Co. NY bought a new position in shares of Vericel in the 2nd quarter worth about $128,000. 76.57% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently weighed in on the company. Needham & Company LLC lowered their price objective on Vericel from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, August 8th. BidaskClub lowered Vericel from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. BTIG Research reissued a “buy” rating and issued a $17.00 price objective on shares of Vericel in a research report on Tuesday, August 7th. Finally, LADENBURG THALM/SH SH raised Vericel from a “neutral” rating to a “buy” rating in a research report on Monday, July 16th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $15.00.

Shares of Vericel stock opened at $11.54 on Tuesday. Vericel Corp has a one year low of $3.30 and a one year high of $15.29. The stock has a market capitalization of $513.57 million, a P/E ratio of -23.08 and a beta of 3.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.72 and a quick ratio of 7.48.

Vericel (NASDAQ:VCEL) last issued its earnings results on Monday, August 6th. The biotechnology company reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12). Vericel had a negative return on equity of 37.86% and a negative net margin of 23.35%. The business had revenue of $19.01 million during the quarter, compared to analyst estimates of $18.51 million. Analysts expect that Vericel Corp will post -0.41 EPS for the current fiscal year.

In related news, Director Steven C. Gilman sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $12.03, for a total value of $108,270.00. Following the completion of the sale, the director now directly owns 9,000 shares of the company’s stock, valued at approximately $108,270. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dominick Colangelo sold 75,000 shares of the business’s stock in a transaction dated Thursday, October 4th. The shares were 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 sold a total of 114,000 shares of company stock valued at $1,609,770 over the last ninety days. 4.70% of the stock is currently owned by corporate insiders.

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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.

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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)

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