Geode Capital Management LLC Grows Stock Position in Vericel Co. (NASDAQ:VCEL)

Geode Capital Management LLC increased its stake in shares of Vericel Co. (NASDAQ:VCEL - Free Report) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,166,115 shares of the biotechnology company's stock after buying an additional 12,062 shares during the period. Geode Capital Management LLC owned about 2.36% of Vericel worth $64,046,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Vericel by 119.3% in the 4th quarter. Wellington Management Group LLP now owns 1,288,921 shares of the biotechnology company's stock worth $70,775,000 after acquiring an additional 701,064 shares during the last quarter. Raymond James Financial Inc. bought a new position in Vericel during the fourth quarter worth about $28,126,000. William Blair Investment Management LLC increased its stake in shares of Vericel by 66.3% in the fourth quarter. William Blair Investment Management LLC now owns 1,258,416 shares of the biotechnology company's stock worth $69,100,000 after purchasing an additional 501,736 shares in the last quarter. Congress Asset Management Co. raised its position in shares of Vericel by 12.6% in the fourth quarter. Congress Asset Management Co. now owns 1,454,139 shares of the biotechnology company's stock valued at $79,847,000 after purchasing an additional 162,419 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Vericel by 26.5% during the 4th quarter. JPMorgan Chase & Co. now owns 571,194 shares of the biotechnology company's stock valued at $31,364,000 after buying an additional 119,574 shares in the last quarter.

Remove Ads

Insider Buying and Selling

In other news, Director Robert L. Md Zerbe sold 2,500 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $62.50, for a total transaction of $156,250.00. Following the transaction, the director now directly owns 26,595 shares in the company, valued at approximately $1,662,187.50. This represents a 8.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan Siegal sold 3,908 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $61.99, for a total value of $242,256.92. Following the transaction, the insider now directly owns 1,206 shares in the company, valued at approximately $74,759.94. This represents a 76.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,942 shares of company stock worth $2,724,548. Insiders own 5.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on VCEL shares. Canaccord Genuity Group lifted their price objective on shares of Vericel from $64.00 to $67.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. HC Wainwright reiterated a "buy" rating and set a $60.00 price objective on shares of Vericel in a research note on Friday, February 28th. Stephens reissued an "overweight" rating and set a $65.00 price objective on shares of Vericel in a report on Wednesday, January 15th. Truist Financial reduced their target price on Vericel from $61.00 to $51.00 and set a "buy" rating for the company in a report on Friday. Finally, StockNews.com raised shares of Vericel from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.86.

Vericel Price Performance

NASDAQ VCEL traded up $0.78 during trading on Tuesday, reaching $42.01. The company's stock had a trading volume of 437,192 shares, compared to its average volume of 390,908. The stock has a market capitalization of $2.11 billion, a PE ratio of 700.28 and a beta of 1.61. The firm has a fifty day moving average of $48.45 and a 200 day moving average of $51.39. Vericel Co. has a one year low of $37.76 and a one year high of $63.00.

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.