Kopp Family Office Reduces Stake in Vericel Co. (NASDAQ:VCEL)

Kopp Family Office LLC has reduced its stake in Vericel Co. (NASDAQ:VCEL) by 18.5% during the third quarter, as disclosed in its latest 13F filing with the Securities and Exchange Commission. Following this reduction, the firm now holds 372,948 shares of the biotechnology company after selling 84,730 shares during this reporting period. Vericel represents approximately 10.2% of Kopp Family Office's total holdings, making it the firm's third largest position. As of the most recent filing, Kopp Family Office's ownership in Vericel is valued at around $15.76 million, which accounts for about 0.76% of the total company shares.

Changes in Major Holdings

Other significant investors have also made adjustments to their holdings in Vericel. Notably, International Assets Investment Management LLC has dramatically increased its stake by 4,126.7% in the third quarter, now owning 634 shares valued at $27,000 after purchasing an additional 619 shares. Meanwhile, Farther Finance Advisors LLC raised its holdings by 48.1%, acquiring a total of 1,247 shares worth approximately $53,000. Another firm, Mirae Asset Global Investments Co. Ltd., increased its stake in Vericel by 22.2% and now owns 1,773 shares valued at $77,000 after acquiring 322 additional shares. Furthermore, Meeder Asset Management Inc. has acquired a new stake valued at $92,000, while Quantbot Technologies LP has entered the fold as well with a new stake worth about $146,000.

Vericel's Stock Performance

On Tuesday, Vericel's shares traded down by $0.62, reaching $54.68. Approximately 53,640 shares were traded, which is below the average trading volume of 421,752 shares. As it stands, Vericel has a market capitalization of $2.70 billion, with a price-to-earnings (P/E) ratio of 911.49 and a beta of 1.71. Over the past 52 weeks, the stock has seen a low of $32.31 and a high of $61.49. Currently, the 50-day simple moving average rests at $53.61, while the 200-day simple moving average is at $48.82.

Quarterly Earnings Report

Vericel recently released its quarterly earnings results on Thursday, November 7. The company reported earnings per share (EPS) of ($0.02), which surpassed analysts' expectations of ($0.05) by $0.03. The reported revenue for the quarter was $57.91 million, while analysts had anticipated $55.32 million. Vericel had a net margin of 1.56% and a return on equity of 1.48%. Analysts predict that Vericel will achieve approximately $0.13 in EPS for the current fiscal year.

Analysts' Ratings

Recent reports from various equity research analysts indicate upgrades and continued positive sentiments towards Vericel. Stephens has upgraded the stock to a "strong-buy" rating, while Truist Financial has increased its price target for Vericel from $61.00 to $67.00, labeling it a buy. Canaccord Genuity Group has maintained a buy rating with a $60.00 price target. Additionally, StockNews.com has adjusted its rating from sell to hold, and HC Wainwright reiterated its buy rating with a $60 price objective. There's currently one hold rating, six buy ratings, and one strong buy rating, resulting in a consensus rating of "Buy" with a target price of $61.14 according to MarketBeat.

Insider Trading Activity

In insider news, Director Steven C. Gilman sold 5,833 shares of Vericel on Wednesday, October 2, for an average price of $40.35, totaling approximately $235,361. Following this sale, he retains 11,000 shares valued at about $443,850, which is a 34.65% decrease in his ownership. Another director, Paul K. Wotton, sold 2,600 shares on December 4 at an average price of $58.72, amounting to $152,672. After this transaction, he holds about 27,402 shares currently valued at $1.61 million, representing an 8.67% decrease in his holdings. Over the past 90 days, insiders have sold a total of 44,266 shares worth approximately $2.09 million, with corporate insiders owning about 5.20% of the stock.

Company Overview

Vericel Corporation is a commercial-stage biopharmaceutical company focused on developing, manufacturing, and distributing cell therapies primarily for the sports medicine and severe burn care sectors in North America. Their product lineup includes MACI, an autologous cultured chondrocytes therapy for knee cartilage repair, Epicel, a permanent skin replacement for burn patients, and NexoBrid, a biological product used for eschar removal in burn injuries.

Kopp, Vericel, Investment