Mesirow Financial Investment Management Inc. Reduces Holdings in Vericel Co. (NASDAQ:VCEL)

Mesirow Financial Investment Management Inc. trimmed its stake in shares of Vericel Co. (NASDAQ:VCEL) by 22.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,820 shares of the biotechnology company’s stock after selling 2,317 shares during the quarter. Vericel comprises 2.0% of Mesirow Financial Investment Management Inc.’s holdings, making the stock its 5th biggest position. Mesirow Financial Investment Management Inc.’s holdings in Vericel were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Congress Wealth Management LLC DE purchased a new stake in shares of Vericel in the first quarter worth about $5,496,000. MCF Advisors LLC boosted its position in Vericel by 86.1% during the first quarter. MCF Advisors LLC now owns 482 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 223 shares in the last quarter. Congress Asset Management Co. MA boosted its position in Vericel by 509.1% during the first quarter. Congress Asset Management Co. MA now owns 836,481 shares of the biotechnology company’s stock worth $43,514,000 after purchasing an additional 699,147 shares in the last quarter. Park Avenue Securities LLC purchased a new position in Vericel during the first quarter worth approximately $262,000. Finally, Juncture Wealth Strategies LLC purchased a new position in Vericel during the first quarter worth approximately $209,000.

Insider Activity at Vericel

In related news, insider Sean C. Flynn sold 6,772 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $45.02, for a total value of $304,875.44. Following the completion of the transaction, the insider now directly owns 487 shares in the company, valued at $21,924.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Sean C. Flynn sold 6,772 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $45.02, for a total value of $304,875.44. Following the completion of the transaction, the insider now directly owns 487 shares in the company, valued at $21,924.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dominick Colangelo sold 17,500 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $44.59, for a total value of $780,325.00. Following the completion of the transaction, the chief executive officer now owns 195,307 shares of the company’s stock, valued at $8,708,739.13. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,246 shares of company stock valued at $1,924,869. 7.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on VCEL shares. Truist Financial reiterated a “buy” rating and set a $54.00 price target on shares of Vericel in a research report on Tuesday, March 26th. HC Wainwright increased their price target on Vericel from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. TD Cowen initiated coverage on Vericel in a report on Thursday, June 20th. They set a “buy” rating and a $55.00 target price for the company. Finally, StockNews.com raised Vericel from a “sell” rating to a “hold” rating in a report on Friday, June 21st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.17.

Vericel Price Performance

Shares of NASDAQ:VCEL traded down $0.16 during midday trading on Wednesday, hitting $44.91. The company had a trading volume of 125,858 shares, compared to its average volume of 484,680. Vericel Co. has a twelve month low of $30.18 and a twelve month high of $53.05. The business’s 50-day simple moving average is $46.55 and its 200-day simple moving average is $44.74.

Vericel (NASDAQ:VCEL) last posted its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.03. Vericel had a return on equity of 0.21% and a net margin of 0.22%. The firm had revenue of $51.28 million during the quarter, compared to analysts’ expectations of $49.07 million. During the same quarter last year, the firm earned ($0.16) earnings per share. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. Equities research analysts expect that Vericel Co. will post 0.11 EPS for the current fiscal year.

About Vericel

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.