Park Avenue Securities LLC Takes $280,000 Position in Vericel Co. (NASDAQ:VCEL)

Park Avenue Securities LLC purchased a new stake in shares of Vericel Co. (NASDAQ:VCEL - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,099 shares of the biotechnology company's stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geneva Capital Management LLC grew its holdings in shares of Vericel by 61.4% in the third quarter. Geneva Capital Management LLC now owns 1,104,386 shares of the biotechnology company's stock worth $46,660,000 after purchasing an additional 420,078 shares during the last quarter. Wellington Management Group LLP grew its stake in Vericel by 214.0% in the 3rd quarter. Wellington Management Group LLP now owns 587,857 shares of the biotechnology company's stock worth $24,837,000 after acquiring an additional 400,667 shares in the last quarter. Congress Asset Management Co. grew its stake in Vericel by 37.4% in the 3rd quarter. Congress Asset Management Co. now owns 1,291,720 shares of the biotechnology company's stock worth $54,575,000 after acquiring an additional 351,550 shares in the last quarter. TimesSquare Capital Management LLC increased its position in shares of Vericel by 54.8% during the third quarter. TimesSquare Capital Management LLC now owns 590,145 shares of the biotechnology company's stock worth $24,934,000 after acquiring an additional 209,009 shares during the period. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Vericel during the third quarter valued at approximately $4,973,000.

Vericel Stock Up 0.0 %

Shares of Vericel stock traded up $0.01 on Friday, reaching $57.43. The stock had a trading volume of 376,137 shares, compared to its average volume of 357,290. The stock has a market capitalization of $2.83 billion, a P/E ratio of 957.33 and a beta of 1.72. The company has a 50 day moving average price of $57.40 and a 200 day moving average price of $50.50. Vericel Co. has a 1 year low of $39.12 and a 1 year high of $61.49.

Vericel (NASDAQ:VCEL - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. Vericel had a net margin of 1.56% and a return on equity of 1.48%. The business had revenue of $57.91 million for the quarter, compared to analyst estimates of $55.32 million. On average, analysts forecast that Vericel Co. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on VCEL. BTIG Research raised their price objective on Vericel from $56.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Stephens restated an "overweight" rating and set a $65.00 price target on shares of Vericel in a research note on Wednesday, January 15th. HC Wainwright reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Vericel in a research note on Wednesday, January 15th. Truist Financial increased their target price on shares of Vericel from $61.00 to $67.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $60.00 price target on shares of Vericel in a report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $62.14.

Insider Buying and Selling at Vericel

In other Vericel news, Director Paul K. Wotton sold 2,600 shares of Vericel stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $58.72, for a total transaction of $152,672.00. Following the completion of the transaction, the director now owns 27,402 shares in the company, valued at approximately $1,609,045.44. This trade represents a 8.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert L. Md Zerbe sold 2,500 shares of the business's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the transaction, the director now directly owns 26,595 shares of the company's stock, valued at approximately $1,595,700. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,100 shares of company stock worth $889,872. 5.20% of the stock is owned by insiders.

Vericel 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.