Dominick Colangelo Sells 26,592 Shares of Vericel Co. (NASDAQ:VCEL) Stock

Vericel Co. (NASDAQ:VCEL) CEO Dominick Colangelo sold 26,592 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 259,997 shares of the company’s stock, valued at approximately $11,902,662.66. The trade was a 9.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Vericel Price Performance

Vericel stock opened at $45.38 on Friday. The firm’s 50 day moving average price is $55.59 and its 200-day moving average price is $51.85. Vericel Co. has a 1 year low of $39.12 and a 1 year high of $63.00. The stock has a market cap of $2.27 billion, a P/E ratio of 756.46 and a beta of 1.78.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in Vericel by 1.0% in the third quarter. FMR LLC now owns 2,372,812 shares of the biotechnology company’s stock worth $100,251,000 after purchasing an additional 22,461 shares during the last quarter. Congress Asset Management Co. increased its position in shares of Vericel by 12.6% during the 4th quarter. Congress Asset Management Co. now owns 1,454,139 shares of the biotechnology company’s stock valued at $79,847,000 after purchasing an additional 162,419 shares during the last quarter. Wellington Management Group LLP raised its holdings in Vericel by 119.3% during the 4th quarter. Wellington Management Group LLP now owns 1,288,921 shares of the biotechnology company’s stock valued at $70,775,000 after buying an additional 701,064 shares during the period. GW&K Investment Management LLC lifted its position in Vericel by 2.4% in the fourth quarter. GW&K Investment Management LLC now owns 1,273,964 shares of the biotechnology company’s stock worth $69,953,000 after buying an additional 30,180 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in Vericel by 66.3% during the fourth quarter. William Blair Investment Management LLC now owns 1,258,416 shares of the biotechnology company’s stock worth $69,100,000 after buying an additional 501,736 shares during the period.

Wall Street Analysts Forecast Growth

VCEL has been the subject of a number of recent analyst reports. Stephens restated an “overweight” rating and issued a $65.00 price objective on shares of Vericel in a report on Wednesday, January 15th. StockNews.com upgraded Vericel from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. BTIG Research increased their price objective on Vericel from $56.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Truist Financial reissued a “buy” rating and issued a $61.00 target price (down previously from $67.00) on shares of Vericel in a research report on Monday, March 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of Vericel in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $62.29.

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.