Bessemer Group Inc. Increases Stake in Vericel Co. (NASDAQ:VCEL)

Bessemer Group Inc. boosted its stake in shares of Vericel Co. (NASDAQ:VCEL) by 3,178.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,129 shares of the biotechnology company’s stock after purchasing an additional 9,820 shares during the period. Bessemer Group Inc.’s holdings in Vericel were worth $556,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of VCEL. Arcadia Investment Management Corp MI acquired a new stake in Vericel during the 4th quarter worth about $48,000. Smartleaf Asset Management LLC raised its stake in shares of Vericel by 511.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the biotechnology company’s stock worth $70,000 after purchasing an additional 1,058 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Vericel by 8.4% during the fourth quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company’s stock worth $129,000 after purchasing an additional 183 shares during the period. Geneos Wealth Management Inc. boosted its position in Vericel by 826.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,511 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 2,240 shares during the last quarter. Finally, KBC Group NV increased its holdings in Vericel by 82.5% in the 4th quarter. KBC Group NV now owns 2,707 shares of the biotechnology company’s stock worth $149,000 after buying an additional 1,224 shares during the period.

Insider Transactions 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 sale, the director now directly owns 26,595 shares in the company, valued at $1,662,187.50. This represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dominick Colangelo sold 24,850 shares of Vericel stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $41.89, for a total value of $1,040,966.50. Following the transaction, the chief executive officer now owns 260,354 shares in the company, valued at approximately $10,906,229.06. The trade was a 8.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,942 shares of company stock valued at $2,724,548 over the last 90 days. 5.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Stephens reiterated an “overweight” rating and set a $65.00 price objective on shares of Vericel in a research note on Wednesday, January 15th. HC Wainwright restated a “buy” rating and issued a $60.00 price objective on shares of Vericel in a research report on Friday, February 28th. Canaccord Genuity Group lifted their target price on shares of Vericel from $64.00 to $67.00 and gave the company a “buy” rating in a report on Monday, February 3rd. StockNews.com raised shares of Vericel from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Finally, Truist Financial decreased their price objective on shares of Vericel from $61.00 to $51.00 and set a “buy” rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Vericel has an average rating of “Moderate Buy” and a consensus target price of $60.86.

Vericel Price Performance

Shares of NASDAQ:VCEL opened at $42.01 on Wednesday. Vericel Co. has a 1 year low of $37.76 and a 1 year high of $63.00. The firm has a market capitalization of $2.11 billion, a PE ratio of 700.28 and a beta of 1.61. The business’s 50 day moving average price is $48.45 and its 200-day moving average price is $51.39.

Vericel 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.