Proficio Capital Partners LLC bought a new stake in Vericel Co. (NASDAQ:VCEL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 17,406 shares of the biotechnology company's stock, valued at approximately $956,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of VCEL. International Assets Investment Management LLC boosted its holdings in shares of Vericel by 4,126.7% in the 3rd 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 last quarter. Arcadia Investment Management Corp MI acquired a new position in Vericel during the fourth quarter valued at $48,000. Farther Finance Advisors LLC boosted its holdings 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 purchasing an additional 405 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Vericel during the 3rd quarter worth about $92,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Vericel by 826.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,511 shares of the biotechnology company's stock valued at $138,000 after buying an additional 2,240 shares during the last quarter.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on VCEL. Canaccord Genuity Group upped their target price on Vericel from $64.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Stephens reaffirmed an "overweight" rating and set a $65.00 price objective on shares of Vericel in a research note on Wednesday, January 15th. Truist Financial reissued a "buy" rating and set a $61.00 price target (down from $67.00) on shares of Vericel in a report on Monday, March 3rd. StockNews.com raised shares of Vericel from a "sell" rating to a "hold" rating in a report on Saturday. Finally, HC Wainwright reissued a "buy" rating and set a $60.00 target price on shares of Vericel in a research note on Friday, February 28th. 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.29.
Get Our Latest Research Report on Vericel
Vericel Price Performance
Vericel stock traded down $1.04 during midday trading on Tuesday, reaching $47.81. The company had a trading volume of 343,397 shares, compared to its average volume of 420,721. Vericel Co. has a 12-month low of $39.12 and a 12-month high of $63.00. The company has a market capitalization of $2.39 billion, a P/E ratio of 796.97 and a beta of 1.78. The firm's fifty day simple moving average is $56.35 and its 200-day simple moving average is $51.99.
Insider Activity
In related news, Director Robert L. Md Zerbe sold 2,500 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $62.50, for a total value of $156,250.00. Following the completion of the transaction, the director now directly owns 26,595 shares of the company's stock, valued at approximately $1,662,187.50. This represents a 8.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan Siegal sold 1,092 shares of Vericel stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $61.99, for a total transaction of $67,693.08. Following the sale, the insider now directly owns 1,206 shares in the company, valued at approximately $74,759.94. This trade represents a 47.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,500 shares of company stock worth $466,200 over the last quarter. 5.20% of the stock is currently owned by corporate insiders.
About Vericel
(
Free Report)
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.
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