Vericel Co. (NASDAQ:VCEL) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in Vericel Co. (NASDAQ:VCEL - Free Report) by 35.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 261,073 shares of the biotechnology company's stock after selling 143,788 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.53% of Vericel worth $14,388,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VCEL. Louisiana State Employees Retirement System boosted its position in Vericel by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 23,900 shares of the biotechnology company's stock worth $1,312,000 after acquiring an additional 200 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Vericel by 22.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,773 shares of the biotechnology company's stock worth $77,000 after buying an additional 322 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Vericel by 48.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company's stock valued at $53,000 after buying an additional 405 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of Vericel by 1.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 43,781 shares of the biotechnology company's stock worth $2,404,000 after acquiring an additional 489 shares during the last quarter. Finally, PFG Investments LLC boosted its holdings in Vericel by 8.0% in the 3rd quarter. PFG Investments LLC now owns 7,400 shares of the biotechnology company's stock valued at $313,000 after purchasing an additional 550 shares during the last quarter.

Insider Activity at Vericel

In related news, Director Paul K. Wotton sold 2,600 shares of Vericel stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $58.72, for a total value of $152,672.00. Following the completion of the transaction, the director now directly owns 27,402 shares in the company, valued at approximately $1,609,045.44. This trade represents a 8.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathan Mark Hopper sold 10,000 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $58.72, for a total value of $587,200.00. Following the sale, the insider now owns 58,371 shares in the company, valued at approximately $3,427,545.12. This trade represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,100 shares of company stock worth $1,206,072. Corporate insiders own 5.20% of the company's stock.

Vericel Trading Down 4.3 %

VCEL traded down $2.31 during mid-day trading on Friday, hitting $52.00. 414,572 shares of the stock were exchanged, compared to its average volume of 390,411. The company has a market cap of $2.57 billion, a PE ratio of 866.81 and a beta of 1.72. The firm's fifty day moving average is $57.75 and its two-hundred day moving average is $51.54. Vericel Co. has a 1-year low of $39.12 and a 1-year high of $63.00.

Wall Street Analyst Weigh In

VCEL has been the subject of a number of recent analyst reports. Truist Financial raised their price target on shares of Vericel from $61.00 to $67.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. StockNews.com upgraded Vericel from a "sell" rating to a "hold" rating in a research report on Tuesday, December 24th. Stephens reaffirmed an "overweight" rating and issued a $65.00 price target on shares of Vericel in a research note on Wednesday, January 15th. Canaccord Genuity Group raised their price objective on Vericel from $64.00 to $67.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $60.00 target price on shares of Vericel in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.14.

Vericel Company Profile

Vericel Corporation, a commercial-stage biopharmaceutical company, engages in the research, development, manufacture, and distribution of cellular therapies for sports medicine and severe burn care markets in North America. The company markets autologous cell therapy products comprising MACI, an autologous cultured chondrocytes on porcine collagen membrane for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns; and NexoBrid, a biological orphan product for eschar removal in adults with deep partial-thickness and/or full-thickness thermal burns.