Tax-loss harvesting alternatives for VCEL

Among the 28 Biotechnology peers screened, RGEN (Repligen) has tracked VCEL most closely over the past year, with a return correlation of 0.37. The strongest fund stand-in is IHI (iShares Medical Devices ETF) at 0.47 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

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STOCKS

Single-name peers

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
RGEN	Repligen	Biotechnology	0.37	0.32	0.38	0.31
TGTX	TG Therapeutics, Inc.	Biotechnology	0.29	0.23	0.38	0.28
LGND	Ligand Pharmaceuticals, Inc.	Biotechnology	0.28	0.30	0.34	0.27
INCY	Incyte	Biotechnology	0.26	0.21	0.22	0.23
KRYS	Krystal Biotech	Biotechnology	0.24	0.30	0.26	0.23
AMGN	Amgen Inc.	Biotechnology	0.24	0.26	0.22	0.22
HALO	Halozyme	Biotechnology	0.24	0.25	0.32	0.28
VRTX	Vertex Pharmaceuticals	Biotechnology	0.24	0.23	0.23	0.23
VIR	Vir Biotechnology, Inc.	Biotechnology	0.24	0.28	0.26	0.14
REGN	Regeneron Pharmaceuticals	Biotechnology	0.24	0.22	0.21	0.18
FTRE	Fortrea	Biotechnology	0.22	0.32	0.31	—
EXEL	Exelixis	Biotechnology	0.22	0.17	0.24	0.23
GILD	Gilead Sciences	Biotechnology	0.22	0.20	0.20	0.17
NBIX	Neurocrine Biosciences	Biotechnology	0.22	0.25	0.26	0.24
XNCR	Xencor Inc	Biotechnology	0.21	0.29	0.32	0.26
ADMA	ADMA Biologics, Inc.	Biotechnology	0.21	0.25	0.34	0.22
BIIB	Biogen Inc.	Biotechnology	0.19	0.24	0.28	0.18
SRPT	Sarepta Therapeutics	Biotechnology	0.19	0.23	0.23	0.19
BMRN	BioMarin Pharmaceutical	Biotechnology	0.16	0.25	0.30	0.27
CYTK	Cytokinetics	Biotechnology	0.14	0.14	0.24	0.22
ALNY	Alnylam Pharmaceuticals	Biotechnology	0.14	0.13	0.23	0.21
RCUS	Arcus Biosciences, Inc.	Biotechnology	0.14	0.28	0.34	0.27
HRMY	Harmony Biosciences Holdings, Inc.	Biotechnology	0.13	0.22	0.26	0.24
ARWR	Arrowhead Pharmaceuticals	Biotechnology	0.12	0.25	0.38	0.30
ROIV	Roivant Sciences	Biotechnology	0.10	0.22	0.21	—
MRNA	Moderna Inc.	Biotechnology	0.08	0.13	0.17	0.13
PTGX	Protagonist Therapeutics, Inc.	Biotechnology	0.07	0.18	0.28	0.15
UTHR	United Therapeutics	Biotechnology	0.03	0.07	0.08	0.14

ETFS

Fund stand-ins

An ETF is generally not 'substantially identical' to a single stock, which is why funds are the standard wash-sale-aware replacement.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.47	0.49	0.51	0.41
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.46	0.47	0.48	0.39
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.46	0.47	0.48	0.40
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.44	0.44	0.44	0.38
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.42	0.42	0.41	0.36
XPH	SPDR S&P Pharmaceuticals	Pharmaceuticals (Equal Wt)	INDUSTRY	0.41	0.47	0.50	0.42
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.39	0.46	0.52	0.43
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.38	0.39	0.37	0.35
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.38	0.34	0.33	0.32
ARKG	ARK Genomic Revolution ETF	Genomics (Active)	INDUSTRY	0.38	0.51	0.58	0.45
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.34	0.46	0.56	0.47
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.29	0.33	0.35	0.33

NEXT STEPS

Harvesting a loss in VCEL?

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Replacement research for VCEL's peers

RGEN TGTX LGND INCY KRYS AMGN HALO VRTX VIR REGN FTRE EXEL GILD NBIX XNCR ADMA BIIB SRPT BMRN CYTK ALNY RCUS HRMY ARWR ROIV MRNA PTGX UTHR

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Method: Pearson correlation of daily closing-price returns, Yahoo Finance data, series aligned by trading day, refreshed weekly. A cell is blank when overlapping history covers less than 60% of its window. Correlation is descriptive, not predictive. Wash-sale treatment depends on facts and circumstances — confirm with a tax professional. Not investment advice.