Cynosure Group LLC Invests $335,000 in Vericel Co. (NASDAQ:VCEL)

Cynosure Group LLC bought a new position in Vericel Co. (NASDAQ:VCEL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,923 shares of the biotechnology company’s stock, valued at approximately $335,000.

Other large investors have also bought and sold shares of the company. Scholtz & Company LLC acquired a new position in Vericel in the second quarter worth $1,357,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Vericel by 4.6% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,048 shares of the biotechnology company’s stock worth $45,590,000 after buying an additional 47,108 shares in the last quarter. Atria Investments Inc grew its holdings in Vericel by 21.6% during the 3rd quarter. Atria Investments Inc now owns 7,768 shares of the biotechnology company’s stock worth $328,000 after acquiring an additional 1,378 shares during the last quarter. Premier Fund Managers Ltd acquired a new stake in Vericel in the 3rd quarter valued at about $781,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Vericel by 6.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 420,643 shares of the biotechnology company’s stock worth $19,299,000 after acquiring an additional 25,626 shares during the last quarter.

Insider Buying and Selling at Vericel

In related news, Director Robert L. Md Zerbe sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the transaction, the director now directly owns 26,595 shares in the company, valued at approximately $1,595,700. The trade was a 8.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dominick Colangelo sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $41.38, for a total transaction of $724,150.00. Following the sale, the chief executive officer now owns 220,937 shares in the company, valued at $9,142,373.06. This trade represents a 7.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,666 shares of company stock valued at $1,350,764. Company insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Vericel from a “sell” rating to a “hold” rating in a report on Friday, November 8th. TD Cowen boosted their target price on Vericel from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Stephens raised their price target on Vericel from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. BTIG Research boosted their price objective on Vericel from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Canaccord Genuity Group began coverage on shares of Vericel in a research report on Friday, August 9th. They set a “buy” rating and a $57.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.71.

Vericel Price Performance

Shares of NASDAQ:VCEL opened at $58.14 on Friday. The firm’s 50 day simple moving average is $47.35 and its 200 day simple moving average is $47.36. Vericel Co. has a fifty-two week low of $32.31 and a fifty-two week high of $61.49. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 969.00 and a beta of 1.66.

Vericel (NASDAQ:VCEL) last posted its earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. Vericel had a net margin of 1.56% and a return on equity of 1.48%. The company had revenue of $57.91 million for the quarter, compared to analyst estimates of $55.32 million. Equities research analysts expect that Vericel Co. will post 0.13 earnings per share for the current year.

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.