Frontier Capital Management Co. LLC lessened its holdings in shares of Vericel Co. (NASDAQ:VCEL - Free Report) by 30.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 288,070 shares of the biotechnology company's stock after selling 127,800 shares during the quarter. Frontier Capital Management Co. LLC owned 0.58% of Vericel worth $15,818,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC increased 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 last quarter. Franklin Resources Inc. grew its stake in Vericel by 14.0% in the third quarter. Franklin Resources Inc. now owns 33,543 shares of the biotechnology company's stock worth $1,412,000 after purchasing an additional 4,117 shares in the last quarter. Diversified Trust Co bought a new stake in Vericel in the fourth quarter valued at about $356,000. Park Avenue Securities LLC bought a new stake in Vericel in the fourth quarter valued at about $280,000. Finally, Geneos Wealth Management Inc. raised its stake in Vericel by 826.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,511 shares of the biotechnology company's stock valued at $138,000 after buying an additional 2,240 shares in the last quarter.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on VCEL shares. HC Wainwright restated a "buy" rating and issued a $60.00 price target on shares of Vericel in a research report on Friday, February 28th. StockNews.com cut shares of Vericel from a "hold" rating to a "sell" rating in a research note on Monday. Truist Financial lowered their target price on Vericel from $61.00 to $51.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Stephens reaffirmed an "overweight" rating and set a $65.00 target price on shares of Vericel in a report on Wednesday, January 15th. Finally, Canaccord Genuity Group raised their price objective on shares of Vericel from $64.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $60.86.
Check Out Our Latest Report on VCEL
Insider Activity at Vericel
In other news, CEO Dominick Colangelo sold 24,850 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $41.89, for a total value of $1,040,966.50. Following the sale, the chief executive officer now owns 260,354 shares of the company's stock, valued at approximately $10,906,229.06. This represents a 8.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.20% of the stock is owned by insiders.
Vericel Stock Down 3.5%
Shares of Vericel stock traded down $1.52 on Wednesday, hitting $42.12. 236,613 shares of the company traded hands, compared to its average volume of 405,318. The company has a 50-day moving average price of $42.91 and a 200 day moving average price of $51.21. Vericel Co. has a 12-month low of $37.39 and a 12-month high of $63.00. The company has a market cap of $2.11 billion, a PE ratio of 702.12 and a beta of 1.31.
Vericel (NASDAQ:VCEL - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.14). The business had revenue of $52.60 million for the quarter, compared to analyst estimates of $53.86 million. Vericel had a return on equity of 1.48% and a net margin of 1.56%. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) EPS. Equities research analysts anticipate that Vericel Co. will post 0.14 EPS for the current year.
About Vericel
(
Free Report)
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.
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