Vericel (NASDAQ:VCEL) Stock Price Down 3.5% - Here's Why

Vericel Co. (NASDAQ:VCEL - Get Free Report) shares traded down 3.5% during mid-day trading on Tuesday . The company traded as low as $39.58 and last traded at $39.44. 127,671 shares traded hands during trading, a decline of 67% from the average session volume of 390,641 shares. The stock had previously closed at $40.87.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VCEL. HC Wainwright reaffirmed a "buy" rating and issued a $60.00 target price on shares of Vericel in a research report on Friday, February 28th. Truist Financial decreased their target price on shares of Vericel from $61.00 to $51.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Stephens restated an "overweight" rating and set a $65.00 price target on shares of Vericel in a research note on Wednesday, January 15th. Canaccord Genuity Group lifted their price objective on shares of Vericel from $64.00 to $67.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Finally, StockNews.com raised shares of Vericel from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $60.86.

Vericel Stock Performance

The stock's 50-day simple moving average is $45.76 and its two-hundred day simple moving average is $51.35. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 662.28 and a beta of 1.61.

Insider Transactions at Vericel

In other news, CEO Dominick Colangelo sold 24,850 shares of the business's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $41.89, for a total transaction of $1,040,966.50. Following the transaction, the chief executive officer now owns 260,354 shares in the company, valued at approximately $10,906,229.06. The trade was a 8.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan Siegal sold 3,908 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $61.99, for a total transaction of $242,256.92. Following the completion of the sale, 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. Over the last ninety days, insiders have sold 58,942 shares of company stock worth $2,724,548. Company insiders own 5.20% of the company's stock.

Hedge Funds Weigh In On Vericel

Several institutional investors and hedge funds have recently added to or reduced their stakes in VCEL. Wellington Management Group LLP grew its holdings in shares of Vericel by 119.3% during the 4th quarter. Wellington Management Group LLP now owns 1,288,921 shares of the biotechnology company's stock worth $70,775,000 after purchasing an additional 701,064 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in Vericel during the fourth quarter worth $34,233,000. Raymond James Financial Inc. acquired a new stake in Vericel during the fourth quarter worth $28,126,000. William Blair Investment Management LLC increased its holdings 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 buying an additional 501,736 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of 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 acquiring an additional 227,675 shares during the period.

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.