Congress Asset Management Co. Has $79.85 Million Stake in Vericel Co. (NASDAQ:VCEL)

Congress Asset Management Co. increased its position in shares of Vericel Co. (NASDAQ:VCEL - Free Report) by 12.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,454,139 shares of the biotechnology company's stock after purchasing an additional 162,419 shares during the period. Congress Asset Management Co. owned about 2.95% of Vericel worth $79,847,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of VCEL. International Assets Investment Management LLC grew its position in Vericel by 4,126.7% in the third quarter. International Assets Investment Management LLC now owns 634 shares of the biotechnology company's stock valued at $27,000 after acquiring an additional 619 shares during the period. Farther Finance Advisors LLC grew its position in Vericel by 48.1% in the third quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company's stock valued at $53,000 after acquiring an additional 405 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Vericel by 22.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,773 shares of the biotechnology company's stock valued at $77,000 after acquiring an additional 322 shares during the period. Meeder Asset Management Inc. bought a new stake in Vericel in the third quarter valued at $92,000. Finally, Geneos Wealth Management Inc. grew its position in Vericel by 826.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,511 shares of the biotechnology company's stock valued at $138,000 after acquiring an additional 2,240 shares during the period.

Vericel Stock Performance

Vericel stock traded up $0.50 on Wednesday, reaching $57.78. The company's stock had a trading volume of 301,492 shares, compared to its average volume of 391,462. Vericel Co. has a twelve month low of $39.12 and a twelve month high of $63.00. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 963.16 and a beta of 1.72. The business's fifty day moving average price is $57.81 and its 200 day moving average price is $51.48.

Insider Activity

In other news, insider Jonathan Mark Hopper sold 10,000 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $58.72, for a total transaction of $587,200.00. Following the transaction, the insider now owns 58,371 shares of the company's stock, valued at $3,427,545.12. This represents a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert L. Md Zerbe sold 2,500 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $60.00, for a total value of $150,000.00. Following the transaction, the director now directly owns 26,595 shares in the company, valued at $1,595,700. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,600 shares of company stock valued at $1,356,072 over the last 90 days. 7.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VCEL. StockNews.com upgraded Vericel from a "sell" rating to a "hold" rating in a research report on Tuesday, December 24th. BTIG Research upped their price target on Vericel from $56.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Stephens reiterated an "overweight" rating and issued a $65.00 price target on shares of Vericel in a research report on Wednesday, January 15th. Truist Financial boosted their price objective on Vericel from $61.00 to $67.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Finally, HC Wainwright reissued a "buy" rating and issued a $60.00 price objective on shares of Vericel in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $63.14.

About Vericel

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.