Truist Financial Has Lowered Expectations for Vericel (NASDAQ:VCEL) Stock Price

Vericel (NASDAQ:VCEL) had its price target dropped by analysts at Truist Financial from $61.00 to $51.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Truist Financial’s price objective indicates a potential upside of 23.39% from the company’s current price.

Several other analysts have also weighed in on the company. Canaccord Genuity Group raised their price objective on Vericel from $64.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and set a $65.00 price target on shares of Vericel in a report on Wednesday, January 15th. StockNews.com raised shares of Vericel from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $60.00 target price on shares of Vericel in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.86.

Vericel Price Performance

Shares of VCEL opened at $41.33 on Friday. The firm has a 50 day simple moving average of $49.57 and a two-hundred day simple moving average of $51.44. The company has a market cap of $2.07 billion, a P/E ratio of 688.98 and a beta of 1.61. Vericel has a one year low of $37.76 and a one year high of $63.00.

Insider Buying and Selling at Vericel

In other news, Director Robert L. Md Zerbe sold 2,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 26,595 shares of the company’s stock, valued at $1,662,187.50. This represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jonathan Siegal sold 1,092 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $61.99, for a total transaction of $67,693.08. Following the sale, the insider now owns 1,206 shares of the company’s stock, valued at $74,759.94. This trade represents a 47.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,092 shares of company stock valued at $1,683,582. Company insiders own 5.20% of the company’s stock.

Institutional Trading of Vericel

Several hedge funds and other institutional investors have recently modified their holdings of VCEL. Wellington Management Group LLP raised its stake 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 valued at $70,775,000 after purchasing an additional 701,064 shares during the period. Champlain Investment Partners LLC purchased a new position in shares of Vericel in the fourth quarter worth about $34,233,000. Raymond James Financial Inc. bought a new stake in shares of Vericel in the 4th quarter worth approximately $28,126,000. William Blair Investment Management LLC grew its holdings in shares of Vericel by 66.3% during the 4th quarter. William Blair Investment Management LLC now owns 1,258,416 shares of the biotechnology company’s stock worth $69,100,000 after acquiring an additional 501,736 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Vericel by 25.4% during the fourth quarter. Federated Hermes Inc. now owns 1,122,373 shares of the biotechnology company’s stock valued at $61,630,000 after purchasing an additional 227,675 shares in the last quarter.

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.