D-Wave Quantum falls nearly 3% as earnings miss overshadows revenue beat
Jonathan Mark Hopper, the Chief Medical (TASE:BLWV) Officer of Vericel Corp (NASDAQ:VCEL), a $2.58 billion market cap biotechnology company with impressive 20.1% revenue growth over the last twelve months, recently executed significant stock transactions, according to a recent SEC filing. On March 3, Hopper sold 10,000 shares of Vericel’s common stock at an average price of $49.53, totaling $495,300. This sale was part of an automatic trading plan under Rule 10b5-1, which Hopper adopted in May 2024.
In addition to the sale, Hopper exercised stock options to acquire 10,000 shares at a price of $18 per share. This exercise was part of a larger set of options that became exercisable in quarterly installments, contingent upon his continued service to the company. Following these transactions, Hopper holds 66,101 shares directly.
In other recent news, Vericel Corporation reported strong financial results for the fourth quarter of 2024, with a 20% year-over-year increase in total revenue, reaching $237.2 million. The company achieved a net income of $10.4 million, a significant improvement from a loss of $3.2 million the previous year. Vericel’s gross margin hit a record 78% for the quarter, contributing to a full-year gross margin of 73%. Looking ahead, Vericel provided optimistic guidance for 2025, projecting revenue growth of 20-23% and maintaining a gross margin between 73% and 74%. In terms of analyst activity, Truist Securities adjusted its price target for Vericel to $61 from $67, while maintaining a Buy rating on the stock. This revision comes after Vericel’s financial updates, despite a shortfall in Epicel revenue, with the company’s growth being bolstered by its MACI product. Truist highlighted the potential for increased sales following the launch of MACI Arthro and Nexobrid, suggesting a positive growth trajectory for Vericel.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.