PDT Partners LLC Makes New Investment in Vericel Co. (NASDAQ:VCEL)

PDT Partners LLC acquired a new stake in shares of Vericel Co. (NASDAQ:VCEL) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 34,707 shares of the biotechnology company’s stock, valued at approximately $1,906,000. PDT Partners LLC owned 0.07% of Vericel at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Arcadia Investment Management Corp MI bought a new stake in Vericel during the fourth quarter valued at about $48,000. Smartleaf Asset Management LLC grew its position in shares of Vericel by 511.1% during 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 in the last quarter. Meeder Asset Management Inc. raised its stake in Vericel by 8.4% during the 4th 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 period. Geneos Wealth Management Inc. lifted its holdings in Vericel by 826.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,511 shares of the biotechnology company’s stock worth $138,000 after purchasing an additional 2,240 shares in the last quarter. Finally, KBC Group NV boosted its stake 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 purchasing an additional 1,224 shares during the period.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, CEO Dominick Colangelo sold 26,592 shares of the stock in a transaction 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 sale, the chief executive officer now owns 259,997 shares of the company’s stock, valued at approximately $11,902,662.66. This represents a 9.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 completion of 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. Insiders sold a total of 55,034 shares of company stock worth $2,482,291 over the last three months. 5.20% of the stock is owned by insiders.

Vericel Price Performance

NASDAQ:VCEL opened at $39.36 on Wednesday. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 656.11 and a beta of 1.61. The business has a 50 day simple moving average of $45.08 and a 200-day simple moving average of $51.32. Vericel Co. has a 1 year low of $37.76 and a 1 year high of $63.00.

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.