Victory Capital Management Inc. Sells 44,915 Shares of Vericel Co. (NASDAQ:VCEL)

Victory Capital Management Inc. reduced its position in Vericel Co. (NASDAQ:VCEL - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 578,712 shares of the biotechnology company's stock after selling 44,915 shares during the period. Victory Capital Management Inc. owned about 1.17% of Vericel worth $31,777,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC lifted its position in shares of Vericel by 1.0% in the third quarter. FMR LLC now owns 2,372,812 shares of the biotechnology company's stock worth $100,251,000 after buying an additional 22,461 shares during the last quarter. Congress Asset Management Co. lifted its holdings in Vericel by 12.6% in the 4th quarter. Congress Asset Management Co. now owns 1,454,139 shares of the biotechnology company's stock worth $79,847,000 after purchasing an additional 162,419 shares during the last quarter. GW&K Investment Management LLC boosted its position in Vericel by 2.4% during the fourth quarter. GW&K Investment Management LLC now owns 1,273,964 shares of the biotechnology company's stock worth $69,953,000 after purchasing an additional 30,180 shares during the period. Geode Capital Management LLC boosted its position in Vericel by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,154,053 shares of the biotechnology company's stock worth $48,768,000 after purchasing an additional 9,613 shares during the period. Finally, Geneva Capital Management LLC grew its holdings in Vericel by 61.4% during the third quarter. Geneva Capital Management LLC now owns 1,104,386 shares of the biotechnology company's stock valued at $46,660,000 after purchasing an additional 420,078 shares during the last quarter.

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Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VCEL. HC Wainwright reiterated a "buy" rating and set a $60.00 price target on shares of Vericel in a report on Friday, February 28th. Truist Financial reiterated a "buy" rating and set a $61.00 target price (down from $67.00) on shares of Vericel in a research note on Monday, March 3rd. Canaccord Genuity Group raised their price target on shares of Vericel from $64.00 to $67.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. BTIG Research upped their price objective on shares of Vericel from $56.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, Stephens reissued an "overweight" rating and set a $65.00 target price 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 issued a buy rating to the stock. Based on data from MarketBeat, Vericel currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.29.

Vericel Trading Down 0.9 %

Shares of Vericel stock traded down $0.42 during mid-day trading on Thursday, reaching $45.39. 246,999 shares of the stock were exchanged, compared to its average volume of 418,492. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 756.63 and a beta of 1.78. Vericel Co. has a fifty-two week low of $39.12 and a fifty-two week high of $63.00. The firm has a 50-day simple moving average of $56.02 and a 200 day simple moving average of $51.94.

Insider Transactions at Vericel

In other news, insider Jonathan Siegal sold 3,908 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $61.99, for a total transaction of $242,256.92. Following the transaction, the insider now directly owns 1,206 shares in the company, valued at approximately $74,759.94. This represents a 76.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert L. Md Zerbe sold 2,500 shares of the stock in a transaction on Wednesday, February 5th. The shares were 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 owns 26,595 shares in the company, valued at $1,662,187.50. The trade was a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,500 shares of company stock valued at $466,200. Corporate insiders own 7.20% of the company's stock.

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.