Vericel (NASDAQ:VCEL) Sets New 12-Month Low - Here's What Happened

Vericel Co. (NASDAQ:VCEL - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The stock traded as low as $38.87 and last traded at $39.34, with a volume of 39486 shares. The stock had previously closed at $41.92.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Truist Financial cut their target price on Vericel from $61.00 to $51.00 and set a "buy" rating on the stock in a research note on Friday. StockNews.com raised 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 issued a $60.00 target price on shares of Vericel in a report on Friday, February 28th. Stephens reiterated an "overweight" rating and issued a $65.00 target price on shares of Vericel in a research note on Wednesday, January 15th. Finally, Canaccord Genuity Group raised 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. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $60.86.

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Vericel Stock Down 1.6 %

The stock has a market capitalization of $2.07 billion, a PE ratio of 687.61 and a beta of 1.61. The firm's fifty day moving average price is $49.21 and its two-hundred day moving average price is $51.42.

Insiders Place Their Bets

In other Vericel news, CEO Dominick Colangelo sold 24,850 shares of the firm'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. This trade represents a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert L. Md Zerbe sold 2,500 shares of the company's stock in a transaction dated 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. The trade was a 8.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,942 shares of company stock valued at $2,724,548. Company insiders own 5.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Stifel Financial Corp increased its stake in shares of Vericel by 40.0% in the 3rd quarter. Stifel Financial Corp now owns 28,073 shares of the biotechnology company's stock worth $1,186,000 after purchasing an additional 8,020 shares in the last quarter. Wellington Management Group LLP increased its position in Vericel by 214.0% in the third quarter. Wellington Management Group LLP now owns 587,857 shares of the biotechnology company's stock worth $24,837,000 after buying an additional 400,667 shares in the last quarter. MML Investors Services LLC increased its position in Vericel by 26.7% in the third quarter. MML Investors Services LLC now owns 7,125 shares of the biotechnology company's stock worth $301,000 after buying an additional 1,501 shares in the last quarter. Barclays PLC raised its stake in shares of Vericel by 145.4% in the third quarter. Barclays PLC now owns 111,527 shares of the biotechnology company's stock worth $4,712,000 after buying an additional 66,082 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Vericel by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,154,053 shares of the biotechnology company's stock valued at $48,768,000 after buying an additional 9,613 shares in the last quarter.

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.