Stonepine Capital Management LLC decreased its holdings in shares of Vericel Corporation (NASDAQ:VCEL) by 67.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 975,711 shares of the biotechnology company’s stock after selling 2,004,859 shares during the quarter. Vericel accounts for approximately 3.5% of Stonepine Capital Management LLC’s holdings, making the stock its 13th biggest position. Stonepine Capital Management LLC owned approximately 2.79% of Vericel worth $5,854,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of VCEL. Archon Capital Management LLC purchased a new position in shares of Vericel during the second quarter valued at $4,412,000. First Washington CORP purchased a new position in shares of Vericel during the second quarter valued at $2,230,000. Perkins Capital Management Inc. grew its holdings in shares of Vericel by 118.4% during the third quarter. Perkins Capital Management Inc. now owns 562,600 shares of the biotechnology company’s stock valued at $3,376,000 after buying an additional 305,000 shares in the last quarter. EAM Investors LLC purchased a new position in shares of Vericel during the third quarter valued at $943,000. Finally, Vanguard Group Inc. grew its holdings in shares of Vericel by 7.9% during the second quarter. Vanguard Group Inc. now owns 1,212,799 shares of the biotechnology company’s stock valued at $4,002,000 after buying an additional 88,645 shares in the last quarter. Institutional investors and hedge funds own 33.17% of the company’s stock.
A number of analysts recently issued reports on the company. Piper Jaffray Companies reissued a “buy” rating and set a $7.00 price objective on shares of Vericel in a research report on Thursday, August 10th. BTIG Research set a $6.00 price objective on Vericel and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, ValuEngine cut Vericel from a “hold” rating to a “sell” rating in a research report on Friday.
Vericel (NASDAQ:VCEL) last released its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. The firm had revenue of $14.26 million during the quarter. Vericel had a negative return on equity of 265.45% and a negative net margin of 45.11%. sell-side analysts predict that Vericel Corporation will post -0.6 earnings per share for the current fiscal year.
Vericel Corporation, formerly Aastrom Biosciences, Inc, is a commercial-stage biopharmaceutical company dedicated to the identification, development and commercialization of therapies that enable the body to repair and regenerate damaged tissues and organs to restore normal structure and function. The Company operates through the research, product development, manufacture and distribution of patient-specific, expanded cellular therapies for use in the treatment of specific diseases segment.
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