StockNews.com Upgrades Vericel (NASDAQ:VCEL) to “Hold”

Vericel (NASDAQ:VCEL) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other analysts also recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of Vericel in a report on Friday, February 28th. Stephens reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Vericel in a report on Wednesday, January 15th. BTIG Research increased their price target on Vericel from $56.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial reaffirmed a “buy” rating and set a $61.00 price objective (down from $67.00) on shares of Vericel in a report on Monday, March 3rd. Finally, Canaccord Genuity Group upped 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $62.29.

Vericel Stock Up 1.6 %

NASDAQ VCEL opened at $49.56 on Friday. The business has a 50-day moving average price of $56.48 and a 200-day moving average price of $51.98. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 826.14 and a beta of 1.78. Vericel has a twelve month low of $39.12 and a twelve month high of $63.00.

Insiders Place Their Bets

In other Vericel news, insider Jonathan Siegal sold 1,092 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $61.99, for a total value of $67,693.08. Following the transaction, the insider now directly owns 1,206 shares in the company, valued at $74,759.94. This represents a 47.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert L. Md Zerbe sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $62.50, for a total value of $156,250.00. Following the transaction, the director now owns 26,595 shares in the company, valued at $1,662,187.50. The trade was a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock valued at $466,200 over the last 90 days. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake in Vericel by 4,126.7% in the third quarter. International Assets Investment Management LLC now owns 634 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 619 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Vericel during the 4th quarter valued at $48,000. Farther Finance Advisors LLC boosted its position in shares of Vericel by 48.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company’s stock worth $53,000 after purchasing an additional 405 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Vericel during the 4th quarter worth $57,000. Finally, Smartleaf Asset Management LLC increased its position in Vericel by 511.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the biotechnology company’s stock valued at $70,000 after buying an additional 1,058 shares in the last quarter.

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 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.