Zions Bancorporation N.A. Has $2.10 Million Stake in Vericel Co. (NASDAQ:VCEL)

Zions Bancorporation N.A. raised its position in shares of Vericel Co. (NASDAQ:VCEL) by 19.8% in the fourth quarter, Holdings Channel reports. The fund owned 38,186 shares of the biotechnology company’s stock after buying an additional 6,307 shares during the quarter. Zions Bancorporation N.A.’s holdings in Vericel were worth $2,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. EFG Asset Management North America Corp. boosted its stake in Vericel by 83.6% during the 4th quarter. EFG Asset Management North America Corp. now owns 106,064 shares of the biotechnology company’s stock valued at $5,819,000 after purchasing an additional 48,295 shares during the period. Congress Wealth Management LLC DE boosted its position in shares of Vericel by 4.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 182,273 shares of the biotechnology company’s stock valued at $10,009,000 after acquiring an additional 7,664 shares during the period. Summit Creek Advisors LLC grew its stake in shares of Vericel by 0.3% in the fourth quarter. Summit Creek Advisors LLC now owns 351,773 shares of the biotechnology company’s stock worth $19,316,000 after acquiring an additional 1,113 shares during the last quarter. LPL Financial LLC increased its position in Vericel by 27.6% during the fourth quarter. LPL Financial LLC now owns 56,674 shares of the biotechnology company’s stock worth $3,271,000 after acquiring an additional 12,268 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Vericel during the 4th quarter valued at $538,000.

Vericel Price Performance

Shares of VCEL stock opened at $47.96 on Wednesday. The stock’s fifty day simple moving average is $53.95 and its 200 day simple moving average is $51.75. Vericel Co. has a one year low of $39.12 and a one year high of $63.00. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 799.47 and a beta of 1.78.

Insider Activity

In other news, Director Robert L. Md Zerbe sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $62.50, for a total transaction of $156,250.00. Following the completion of the sale, the director now owns 26,595 shares of the company’s stock, valued at approximately $1,662,187.50. This trade represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jonathan Siegal sold 3,908 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $61.99, for a total value of $242,256.92. Following the completion of the transaction, the insider now directly owns 1,206 shares in the company, valued at $74,759.94. The trade was a 76.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,092 shares of company stock worth $1,683,582. Corporate insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VCEL. HC Wainwright restated a “buy” rating and set a $60.00 price objective on shares of Vericel in a report on Friday, February 28th. StockNews.com upgraded Vericel from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Canaccord Genuity Group upped their price target on Vericel from $64.00 to $67.00 and gave the company a “buy” rating in a report on Monday, February 3rd. BTIG Research lifted their price objective on Vericel from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Truist Financial restated a “buy” rating and issued a $61.00 target price (down from $67.00) on shares of Vericel in a research note on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.29.

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.