Short Interest in Vericel Corporation (VCEL) Declines By 23.5%
Vericel Corporation (NASDAQ:VCEL) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 1,182,214 shares, a decrease of 23.5% from the August 31st total of 1,545,126 shares. Based on an average daily volume of 453,340 shares, the short-interest ratio is currently 2.6 days. Currently, 3.6% of the shares of the stock are sold short.
Shares of Vericel Corporation (NASDAQ VCEL) opened at 6.00 on Friday. The firm has a 50-day moving average of $3.81 and a 200-day moving average of $3.11. Vericel Corporation has a 12-month low of $2.00 and a 12-month high of $6.30. The firm’s market cap is $196.94 million.
Vericel Corporation (NASDAQ:VCEL) last released its quarterly earnings data on Wednesday, August 9th. The biotechnology company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.16. The company had revenue of $16.95 million for the quarter. On average, equities analysts forecast that Vericel Corporation will post ($0.63) earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in VCEL. Stonepine Capital Management LLC raised its position in Vericel Corporation by 73.3% during the first quarter. Stonepine Capital Management LLC now owns 3,265,323 shares of the biotechnology company’s stock worth $9,143,000 after acquiring an additional 1,381,523 shares during the last quarter. Archon Capital Management LLC acquired a new position in Vericel Corporation during the second quarter worth about $4,412,000. First Washington CORP acquired a new position in Vericel Corporation during the second quarter worth about $2,230,000. Vanguard Group Inc. raised its position in Vericel Corporation by 7.9% during the second quarter. Vanguard Group Inc. now owns 1,212,799 shares of the biotechnology company’s stock worth $4,002,000 after acquiring an additional 88,645 shares during the last quarter. Finally, Perkins Capital Management Inc. raised its position in Vericel Corporation by 12.6% during the second quarter. Perkins Capital Management Inc. now owns 257,600 shares of the biotechnology company’s stock worth $850,000 after acquiring an additional 28,850 shares during the last quarter. Institutional investors own 33.84% of the company’s stock.
Several research analysts recently weighed in on the stock. BTIG Research set a $6.00 price target on shares of Vericel Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Piper Jaffray Companies restated a “buy” rating and set a $7.00 price target on shares of Vericel Corporation in a research report on Thursday, August 10th.
Vericel Corporation Company Profile
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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