VERICEL CORPORATION
In the published model solve dated 2026-Q2, anchored at $45.31, VERICEL CORPORATION (VCEL) is priced for today's economics sustained for ~24.4 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• Cartilage repair is essentially the whole business: the products already earn a 74.4% gross margin, and the price is paying about nine times revenue for a company that has not yet turned that gross margin into an operating profit. • The demand is elective and heavily back-loaded, with fourth-quarter volumes averaging 34% of the annual MACI total over the five years through 2025, so a single soft surgical season shows up immediately. • Second-quarter results arrive on July 30, 2026, the first l
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268 institutional managers reported holding VCEL in 13F filings for the quarter ended 2026-03-31. 33 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 5.3M shares were sold short as of the 2026-06-15 count, about 10% of shares outstanding (9.3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
VCEL's share count grew 9.4% over the past five years. It pays no dividend.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at VCEL over the trailing three years. Absence is a fact about the company, not a signal. 14 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
VCEL's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-03 | -9.0% | +6.5% |
| 2023-11-09 | -11.3% | +15.2% |
| 2024-03-01 | -6.4% | +7.0% |
| 2024-05-09 | -1.8% | +1.6% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
VCEL's latest 8-K filings: 2026-07-30 (items 2.02, 9.01); 2026-05-18 (items 5.03, 9.01); 2026-05-07 (items 2.02, 9.01); 2026-05-01 (items 5.07, 9.01); 2026-02-26 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.