Vericel Co. (NASDAQ:VCEL) CEO Dominick Colangelo Sells 26,592 Shares

Vericel Co. (NASDAQ:VCEL) CEO Dominick Colangelo sold 26,592 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $45.78, for a total transaction of $1,217,381.76. Following the transaction, the chief executive officer now directly owns 259,997 shares in the company, valued at approximately $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 this link.

Vericel Stock Down 0.0 %

Vericel stock opened at $45.38 on Friday. Vericel Co. has a 52 week low of $39.12 and a 52 week high of $63.00. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 756.46 and a beta of 1.78. The business’s 50-day moving average price is $55.59 and its 200 day moving average price is $51.85.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $60.00 target price on shares of Vericel in a research report on Friday, February 28th. Stephens reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Vericel in a research report on Wednesday, January 15th. BTIG Research raised their target price on shares of Vericel from $56.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Canaccord Genuity Group increased their price target on Vericel from $64.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $61.00 price target (down previously from $67.00) on shares of Vericel in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.29.

Hedge Funds Weigh In On Vericel

Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Vericel by 119.3% during the fourth quarter. Wellington Management Group LLP now owns 1,288,921 shares of the biotechnology company’s stock valued at $70,775,000 after buying an additional 701,064 shares during the period. Champlain Investment Partners LLC acquired a new stake in shares of Vericel in the fourth quarter valued at about $34,233,000. Raymond James Financial Inc. purchased a new stake in Vericel during the 4th quarter worth approximately $28,126,000. William Blair Investment Management LLC raised its stake in Vericel by 66.3% in the 4th quarter. William Blair Investment Management LLC now owns 1,258,416 shares of the biotechnology company’s stock valued at $69,100,000 after purchasing an additional 501,736 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in Vericel by 25.4% during the 4th quarter. Federated Hermes Inc. now owns 1,122,373 shares of the biotechnology company’s stock worth $61,630,000 after purchasing an additional 227,675 shares during 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.