Vericel Co. (NASDAQ:VCEL) Stake Reduced by Amalgamated Bank

Amalgamated Bank trimmed its stake in Vericel Co. (NASDAQ:VCEL) by 1.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 14,385 shares of the biotechnology company’s stock after selling 264 shares during the quarter. Amalgamated Bank’s holdings in Vericel were worth $608,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. UniSuper Management Pty Ltd bought a new position in Vericel in the 1st quarter worth approximately $595,000. Silvercrest Asset Management Group LLC bought a new position in shares of Vericel in the first quarter worth $6,538,000. Scholtz & Company LLC acquired a new position in shares of Vericel during the second quarter valued at $1,357,000. Allspring Global Investments Holdings LLC raised its stake in shares of Vericel by 6.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 420,643 shares of the biotechnology company’s stock valued at $19,299,000 after purchasing an additional 25,626 shares in the last quarter. Finally, Congress Asset Management Co. raised its stake in shares of Vericel by 37.4% during the third quarter. Congress Asset Management Co. now owns 1,291,720 shares of the biotechnology company’s stock valued at $54,575,000 after purchasing an additional 351,550 shares in the last quarter.

Vericel Stock Down 0.5 %

Shares of NASDAQ:VCEL opened at $52.48 on Friday. The firm has a market cap of $2.59 billion, a P/E ratio of 874.81 and a beta of 1.66. Vericel Co. has a 12 month low of $32.31 and a 12 month high of $57.81. The company’s 50-day moving average price is $44.77 and its two-hundred day moving average price is $46.66.

Vericel (NASDAQ:VCEL) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company had revenue of $57.91 million during the quarter, compared to analysts’ expectations of $55.32 million. Vericel had a net margin of 1.56% and a return on equity of 1.48%. As a group, equities analysts predict that Vericel Co. will post 0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vericel news, CEO Dominick Colangelo sold 17,500 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $41.38, for a total transaction of $724,150.00. Following the completion of the transaction, the chief executive officer now owns 220,937 shares in the company, valued at approximately $9,142,373.06. This represents a 7.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven C. Gilman sold 5,833 shares of Vericel stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $41.36, for a total value of $241,252.88. Following the completion of the sale, the director now directly owns 11,000 shares in the company, valued at approximately $454,960. This represents a 34.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,166 shares of company stock worth $1,200,764 over the last ninety days. 5.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Canaccord Genuity Group began coverage on Vericel in a research note on Friday, August 9th. They set a “buy” rating and a $57.00 price target for the company. Stephens raised their target price on Vericel from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of Vericel in a research report on Friday, November 8th. TD Cowen raised their price objective on shares of Vericel from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Finally, Canaccord Genuity Group began coverage on shares of Vericel in a research note on Friday, August 9th. They issued a “buy” rating and a $57.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.71.

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.