Vericel (NASDAQ:VCEL) Price Target Cut to $51.00 by Analysts at Truist Financial

Vericel (NASDAQ:VCEL - Free Report) had its target price reduced by Truist Financial from $61.00 to $51.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the biotechnology company's stock.

Several other brokerages have also commented on VCEL. Canaccord Genuity Group lifted their price objective on Vericel from $64.00 to $67.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. StockNews.com raised shares of Vericel from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. HC Wainwright restated a "buy" rating and set a $60.00 target price on shares of Vericel in a research report on Friday, February 28th. Finally, Stephens reiterated an "overweight" rating and issued a $65.00 price target on shares of Vericel in a research report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $60.86.

Vericel Stock Down 4.0 %

Vericel stock traded down $1.69 during trading hours on Friday, hitting $40.33. The stock had a trading volume of 154,054 shares, compared to its average volume of 390,035. The stock's 50-day moving average price is $48.45 and its 200-day moving average price is $51.39. The stock has a market capitalization of $2.02 billion, a P/E ratio of 672.28 and a beta of 1.61. Vericel has a 12-month low of $37.76 and a 12-month high of $63.00.

Insider Activity

In other Vericel news, CEO Dominick Colangelo sold 26,592 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $45.78, for a total value of $1,217,381.76. Following the sale, the chief executive officer now owns 259,997 shares in the company, valued at $11,902,662.66. The trade was a 9.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan Siegal sold 3,908 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $61.99, for a total value of $242,256.92. Following the transaction, the insider now owns 1,206 shares of the company's stock, valued at approximately $74,759.94. The trade was a 76.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,942 shares of company stock worth $2,724,548 over the last ninety days. Corporate insiders own 7.20% of the company's stock.

Institutional Trading of Vericel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VCEL. Wellington Management Group LLP lifted its stake in shares of Vericel by 214.0% during the 3rd quarter. Wellington Management Group LLP now owns 587,857 shares of the biotechnology company's stock worth $24,837,000 after acquiring an additional 400,667 shares during the last quarter. Stifel Financial Corp boosted its position in Vericel by 40.0% during the third quarter. Stifel Financial Corp now owns 28,073 shares of the biotechnology company's stock valued at $1,186,000 after purchasing an additional 8,020 shares in the last quarter. Geode Capital Management LLC grew its stake in Vericel by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,154,053 shares of the biotechnology company's stock valued at $48,768,000 after purchasing an additional 9,613 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in Vericel by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 23,900 shares of the biotechnology company's stock worth $1,312,000 after purchasing an additional 200 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in shares of Vericel during the fourth quarter valued at about $280,000.

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.