Wells Fargo & Company MN Acquires 7,363 Shares of Vericel Co. (NASDAQ:VCEL)

Wells Fargo & Company MN increased its stake in shares of Vericel Co. (NASDAQ:VCEL - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,975 shares of the biotechnology company's stock after purchasing an additional 7,363 shares during the quarter. Wells Fargo & Company MN owned approximately 0.14% of Vericel worth $3,842,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VCEL. Arcadia Investment Management Corp MI acquired a new position in shares of Vericel during the 4th quarter worth $48,000. Smartleaf Asset Management LLC boosted its stake in shares of Vericel by 511.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the biotechnology company's stock worth $70,000 after acquiring an additional 1,058 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Vericel by 8.4% during the 4th quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company's stock valued at $129,000 after acquiring an additional 183 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Vericel by 826.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,511 shares of the biotechnology company's stock valued at $138,000 after acquiring an additional 2,240 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Vericel by 82.5% in the 4th quarter. KBC Group NV now owns 2,707 shares of the biotechnology company's stock valued at $149,000 after acquiring an additional 1,224 shares in the last quarter.

Vericel Price Performance

Shares of VCEL traded down $1.32 on Friday, hitting $39.77. The company's stock had a trading volume of 286,151 shares, compared to its average volume of 393,392. The company has a 50 day moving average price of $46.11 and a 200 day moving average price of $51.29. Vericel Co. has a fifty-two week low of $37.76 and a fifty-two week high of $63.00. The company has a market capitalization of $1.99 billion, a PE ratio of 664.19 and a beta of 1.61.

Insider Transactions at Vericel

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

Analysts Set New Price Targets

A number of research firms have recently commented on VCEL. Canaccord Genuity Group lifted their price target 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. Truist Financial lowered their target price on Vericel from $61.00 to $51.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Stephens restated an "overweight" rating and issued a $65.00 price objective on shares of Vericel in a research note on Wednesday, January 15th. StockNews.com raised Vericel from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $60.00 price objective on shares of Vericel in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $60.86.

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.