Townsquare Capital LLC boosted its stake in Vericel Co. (NASDAQ:VCEL - Free Report) by 17.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,936 shares of the biotechnology company's stock after purchasing an additional 9,075 shares during the period. Townsquare Capital LLC owned approximately 0.12% of Vericel worth $3,291,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Arcadia Investment Management Corp MI acquired a new stake in shares of Vericel in the 4th quarter valued at about $48,000. Smartleaf Asset Management LLC raised its holdings in shares of Vericel by 511.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the biotechnology company's stock worth $70,000 after purchasing an additional 1,058 shares during the period. Meeder Asset Management Inc. lifted its position in shares of Vericel by 8.4% in the 4th quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company's stock worth $129,000 after buying an additional 183 shares during the last quarter. Geneos Wealth Management Inc. grew its position 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. Finally, KBC Group NV raised its stake in Vericel by 82.5% during the fourth quarter. KBC Group NV now owns 2,707 shares of the biotechnology company's stock worth $149,000 after acquiring an additional 1,224 shares during the period.
Insider Activity
In related news, CEO Dominick Colangelo sold 26,592 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $45.78, for a total value of $1,217,381.76. Following the completion of the sale, the chief executive officer now owns 259,997 shares of the company's stock, valued at $11,902,662.66. This trade represents a 9.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jonathan Siegal sold 1,092 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $61.99, for a total transaction of $67,693.08. Following the completion of the transaction, the insider now owns 1,206 shares in the company, valued at $74,759.94. This represents a 47.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,942 shares of company stock valued at $2,724,548. 7.20% of the stock is owned by company insiders.
Vericel Stock Up 1.0 %
Shares of NASDAQ:VCEL traded up $0.41 on Friday, reaching $41.23. The company had a trading volume of 343,268 shares, compared to its average volume of 391,030. Vericel Co. has a twelve month low of $37.76 and a twelve month high of $63.00. The stock has a market capitalization of $2.07 billion, a P/E ratio of 687.28 and a beta of 1.61. The stock has a 50-day moving average price of $47.42 and a 200 day moving average price of $51.40.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Canaccord Genuity Group upped their price objective on Vericel from $64.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Truist Financial cut their price objective on shares of Vericel from $61.00 to $51.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. StockNews.com upgraded shares of Vericel from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. HC Wainwright reaffirmed a "buy" rating and set a $60.00 target price on shares of Vericel in a research note on Friday, February 28th. Finally, Stephens reiterated an "overweight" rating and set a $65.00 price target on shares of Vericel in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.86.
Read Our Latest Report on VCEL
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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