Allspring Global Investments Holdings LLC Sells 15,782 Shares of Vericel Co. (NASDAQ:VCEL)

Allspring Global Investments Holdings LLC cut its holdings in Vericel Co. (NASDAQ:VCEL - Free Report) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 404,861 shares of the biotechnology company's stock after selling 15,782 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.83% of Vericel worth $17,105,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. OLD National Bancorp IN increased its holdings in Vericel by 23.3% during the 3rd quarter. OLD National Bancorp IN now owns 5,513 shares of the biotechnology company's stock worth $233,000 after purchasing an additional 1,043 shares in the last quarter. Creative Planning bought a new position in shares of Vericel during the third quarter worth about $230,000. Valeo Financial Advisors LLC acquired a new stake in Vericel in the 3rd quarter valued at approximately $387,000. Juncture Wealth Strategies LLC lifted its stake in Vericel by 48.1% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 11,643 shares of the biotechnology company's stock valued at $492,000 after acquiring an additional 3,783 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Vericel by 24.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 15,479 shares of the biotechnology company's stock valued at $654,000 after acquiring an additional 3,000 shares in the last quarter.

Vericel Stock Up 2.1 %

Shares of VCEL stock traded up $0.88 during trading on Friday, reaching $43.75. 723,693 shares of the company's stock were exchanged, compared to its average volume of 429,385. The firm's fifty day moving average price is $44.92 and its 200-day moving average price is $46.44. Vericel Co. has a twelve month low of $32.28 and a twelve month high of $54.10. The stock has a market capitalization of $2.13 billion, a PE ratio of -4,375.00 and a beta of 1.67.

Vericel (NASDAQ:VCEL - Get Free Report) last announced its earnings results on Thursday, August 1st. The biotechnology company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). Vericel had a net margin of 0.37% and a return on equity of 0.35%. The business had revenue of $52.70 million during the quarter, compared to the consensus estimate of $52.59 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. Vericel's revenue was up 14.8% compared to the same quarter last year. As a group, analysts anticipate that Vericel Co. will post 0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VCEL. Canaccord Genuity Group started coverage on shares of Vericel in a research report on Friday, August 9th. They issued a "buy" rating and a $57.00 price objective on the stock. TD Cowen boosted their price target on shares of Vericel from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, August 27th. BTIG Research decreased their price objective on Vericel from $56.00 to $55.00 and set a "buy" rating for the company in a report on Monday, July 15th. Canaccord Genuity Group started coverage on Vericel in a report on Friday, August 9th. They set a "buy" rating and a $57.00 target price on the stock. Finally, StockNews.com downgraded Vericel from a "hold" rating to a "sell" rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $57.71.

Insider Activity at Vericel

In related news, Director Steven C. Gilman sold 5,833 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $40.35, for a total transaction of $235,361.55. Following the transaction, the director now directly owns 11,000 shares of the company's stock, valued at approximately $443,850. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Steven C. Gilman sold 5,833 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $40.35, for a total transaction of $235,361.55. Following the sale, the director now owns 11,000 shares of the company's stock, valued at $443,850. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dominick Colangelo sold 17,500 shares of Vericel stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $41.38, for a total value of $724,150.00. Following the completion of the transaction, the chief executive officer now directly owns 220,937 shares of the company's stock, valued at $9,142,373.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,166 shares of company stock worth $1,200,764 in the last ninety days. 5.20% of the stock is owned by company insiders.

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.