Vericel (NASDAQ:VCEL) Earns Buy Rating from Truist Financial

Truist Financial reissued their buy rating on shares of Vericel (NASDAQ:VCEL) in a research report released on Monday morning,Benzinga reports. Truist Financial currently has a $61.00 target price on the biotechnology company’s stock, down from their prior target price of $67.00.

Several other brokerages also recently commented on VCEL. BTIG Research increased their target price on shares of Vericel from $56.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Canaccord Genuity Group increased 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 downgraded shares of Vericel from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Stephens restated an “overweight” rating and set a $65.00 price objective on shares of Vericel in a report on Wednesday, January 15th. Finally, HC Wainwright restated a “buy” rating and set a $60.00 price objective on shares of Vericel in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.29.

Vericel Price Performance

Shares of VCEL stock opened at $51.53 on Monday. The firm has a 50-day moving average of $56.81 and a 200-day moving average of $51.93. The company has a market cap of $2.54 billion, a P/E ratio of 858.98 and a beta of 1.72. Vericel has a one year low of $39.12 and a one year high of $63.00.

Insider Transactions at Vericel

In other news, insider Jonathan Siegal sold 1,092 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $61.99, for a total value of $67,693.08. Following the completion of the transaction, the insider now directly owns 1,206 shares in the company, valued at approximately $74,759.94. This trade represents a 47.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the director now owns 26,595 shares of the company’s stock, valued at $1,662,187.50. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,500 shares of company stock worth $466,200 over the last quarter. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Vericel

A number of large investors have recently modified their holdings of the company. Meeder Asset Management Inc. lifted its position in Vericel by 8.4% during the fourth quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company’s stock valued at $129,000 after purchasing an additional 183 shares during the last quarter. Atria Investments Inc lifted its position in Vericel by 2.4% during the fourth quarter. Atria Investments Inc now owns 7,952 shares of the biotechnology company’s stock valued at $437,000 after purchasing an additional 184 shares during the last quarter. Captrust Financial Advisors lifted its position in Vericel by 3.4% during the fourth quarter. Captrust Financial Advisors now owns 6,111 shares of the biotechnology company’s stock valued at $336,000 after purchasing an additional 199 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Vericel by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 23,900 shares of the biotechnology company’s stock valued at $1,312,000 after purchasing an additional 200 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in Vericel by 1.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 13,803 shares of the biotechnology company’s stock valued at $758,000 after purchasing an additional 234 shares during the last quarter.

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.