Truist Financial Has Lowered Expectations for Vericel (NASDAQ:VCEL) Stock Price

Vericel (NASDAQ:VCEL - Free Report) had its price target trimmed by Truist Financial from $61.00 to $51.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the biotechnology company's stock.

VCEL has been the topic of several other reports. Canaccord Genuity Group increased their price objective on shares of Vericel from $64.00 to $67.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Stephens restated an "overweight" rating and set a $65.00 price objective on shares of Vericel in a research report on Wednesday, January 15th. StockNews.com raised Vericel from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. Finally, HC Wainwright restated a "buy" rating and issued a $60.00 price target 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, Vericel has a consensus rating of "Moderate Buy" and a consensus target price of $60.86.

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Vericel Trading Up 1.9 %

Shares of VCEL traded up $0.79 during mid-day trading on Friday, reaching $42.02. The company's stock had a trading volume of 437,192 shares, compared to its average volume of 390,755. The stock has a market cap of $2.11 billion, a P/E ratio of 700.45 and a beta of 1.61. Vericel has a 1-year low of $37.76 and a 1-year high of $63.00. The business has a 50-day simple moving average of $48.80 and a two-hundred day simple moving average of $51.46.

Insiders Place Their Bets

In related news, insider Jonathan Siegal sold 1,092 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $61.99, for a total value of $67,693.08. Following the sale, the insider now directly owns 1,206 shares of the company's stock, valued at $74,759.94. This trade represents a 47.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Dominick Colangelo sold 24,850 shares of the business's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $41.89, for a total value of $1,040,966.50. Following the transaction, the chief executive officer now directly owns 260,354 shares of the company's stock, valued at approximately $10,906,229.06. The trade was a 8.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,942 shares of company stock worth $2,724,548 over the last ninety days. Corporate insiders own 5.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VCEL. Wellington Management Group LLP lifted its holdings in shares of Vericel by 119.3% during the fourth quarter. Wellington Management Group LLP now owns 1,288,921 shares of the biotechnology company's stock worth $70,775,000 after purchasing an additional 701,064 shares during the period. Champlain Investment Partners LLC acquired a new stake in shares of Vericel in the fourth quarter valued at about $34,233,000. Raymond James Financial Inc. acquired a new position in shares of Vericel in the fourth quarter worth approximately $28,126,000. William Blair Investment Management LLC boosted its holdings in 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 valued at $69,100,000 after acquiring an additional 501,736 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in Vericel by 25.4% during the 4th quarter. Federated Hermes Inc. now owns 1,122,373 shares of the biotechnology company's stock valued at $61,630,000 after purchasing an additional 227,675 shares during the period.

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.