Cambridge Investment Research Advisors Inc. trimmed its position in Vericel Co. (NASDAQ:VCEL – Free Report) by 6.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,967 shares of the biotechnology company’s stock after selling 1,350 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Vericel were worth $750,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Curbstone Financial Management Corp bought a new position in Vericel in the second quarter valued at $440,000. Duality Advisers LP raised its holdings in shares of Vericel by 33.0% during the 1st quarter. Duality Advisers LP now owns 11,491 shares of the biotechnology company’s stock valued at $337,000 after buying an additional 2,849 shares in the last quarter. Macquarie Group Ltd. lifted its position in Vericel by 7.3% in the 1st quarter. Macquarie Group Ltd. now owns 1,144,076 shares of the biotechnology company’s stock worth $33,544,000 after buying an additional 78,158 shares during the last quarter. ProShare Advisors LLC purchased a new stake in Vericel in the first quarter worth approximately $201,000. Finally, Ameriprise Financial Inc. grew its position in Vericel by 4.7% during the first quarter. Ameriprise Financial Inc. now owns 706,692 shares of the biotechnology company’s stock valued at $20,720,000 after acquiring an additional 31,587 shares during the last quarter.
Vericel Stock Performance
NASDAQ:VCEL opened at $34.09 on Friday. The firm has a 50-day simple moving average of $33.37 and a two-hundred day simple moving average of $33.49. Vericel Co. has a fifty-two week low of $17.30 and a fifty-two week high of $39.90. The firm has a market cap of $1.62 billion, a P/E ratio of -117.55 and a beta of 1.74.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. Truist Financial reaffirmed a “hold” rating and issued a $39.00 price objective on shares of Vericel in a research note on Thursday, September 21st. BTIG Research raised shares of Vericel from a “neutral” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Tuesday, August 8th. HC Wainwright raised their target price on shares of Vericel from $41.00 to $44.50 and gave the stock a “buy” rating in a research report on Thursday, September 21st. StockNews.com initiated coverage on shares of Vericel in a research note on Thursday. They issued a “hold” rating for the company. Finally, Stephens reiterated an “overweight” rating and issued a $44.00 price target on shares of Vericel in a research note on Thursday, September 21st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.63.
Read Our Latest Report on Vericel
Insider Transactions at Vericel
In other news, Director Robert L. Md Zerbe sold 1,000 shares of Vericel stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $38.84, for a total value of $38,840.00. Following the completion of the sale, the director now directly owns 33,395 shares in the company, valued at $1,297,061.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.20% of the company’s stock.
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 the United States. 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; and Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns.
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