Vericel (NASDAQ:VCEL) Sets New 52-Week High - Here's Why

Vericel Co. (NASDAQ:VCEL - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $63.00 and last traded at $60.98, with a volume of 145549 shares changing hands. The stock had previously closed at $59.43.

Analyst Upgrades and Downgrades

VCEL has been the topic of a number of research reports. Stephens restated an "overweight" rating and set a $65.00 target price on shares of Vericel in a research report on Wednesday, January 15th. HC Wainwright reiterated a "buy" rating and issued a $60.00 price objective on shares of Vericel in a research report on Wednesday, January 15th. Truist Financial lifted their price target on shares of Vericel from $61.00 to $67.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. BTIG Research boosted their price objective on shares of Vericel from $56.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, StockNews.com upgraded Vericel from a "sell" rating to a "hold" rating in a report on Tuesday, December 24th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Vericel currently has an average rating of "Moderate Buy" and an average price target of $63.14.

Vericel Price Performance

The firm has a fifty day moving average price of $57.84 and a 200 day moving average price of $51.15. The firm has a market capitalization of $2.88 billion, a PE ratio of 972.66 and a beta of 1.72.

Vericel (NASDAQ:VCEL - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. The business had revenue of $57.91 million for the quarter, compared to the consensus estimate of $55.32 million. Vericel had a net margin of 1.56% and a return on equity of 1.48%. On average, sell-side analysts expect that Vericel Co. will post 0.14 EPS for the current year.

Insiders Place Their Bets

In other Vericel news, insider Jonathan Siegal sold 1,092 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were 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 in the company, valued at $74,759.94. This trade represents a 47.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jonathan Mark Hopper sold 10,000 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $58.72, for a total value of $587,200.00. Following the completion of the transaction, the insider now directly owns 58,371 shares of the company's stock, valued at approximately $3,427,545.12. This trade represents a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,600 shares of company stock valued at $1,356,072 over the last ninety days. Corporate insiders own 5.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Moran Wealth Management LLC increased its holdings in shares of Vericel by 7.3% in the fourth quarter. Moran Wealth Management LLC now owns 11,540 shares of the biotechnology company's stock valued at $634,000 after purchasing an additional 785 shares in the last quarter. Amundi boosted its position in Vericel by 184.6% in the 4th quarter. Amundi now owns 24,568 shares of the biotechnology company's stock valued at $1,463,000 after buying an additional 15,936 shares during the last quarter. Global Alpha Capital Management Ltd. increased its stake in shares of Vericel by 5.7% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 24,720 shares of the biotechnology company's stock valued at $1,357,000 after buying an additional 1,337 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Vericel during the fourth quarter worth $28,126,000. Finally, Arizona State Retirement System lifted its stake in shares of Vericel by 6.7% during the fourth quarter. Arizona State Retirement System now owns 14,192 shares of the biotechnology company's stock valued at $779,000 after acquiring an additional 897 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.