Allspring Global Investments Holdings LLC Cuts Stock Holdings in Vericel Co. (NASDAQ:VCEL)

Allspring Global Investments Holdings LLC lowered its stake in shares of Vericel Co. (NASDAQ:VCEL) by 35.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 261,073 shares of the biotechnology company’s stock after selling 143,788 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.53% of Vericel worth $14,388,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in VCEL. Louisiana State Employees Retirement System raised its holdings in shares of Vericel by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 23,900 shares of the biotechnology company’s stock worth $1,312,000 after acquiring an additional 200 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Vericel by 22.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,773 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 322 shares in the last quarter. Farther Finance Advisors LLC increased its position in Vericel by 48.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company’s stock worth $53,000 after purchasing an additional 405 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in Vericel by 1.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 43,781 shares of the biotechnology company’s stock valued at $2,404,000 after purchasing an additional 489 shares during the last quarter. Finally, PFG Investments LLC lifted its holdings in Vericel by 8.0% in the 3rd quarter. PFG Investments LLC now owns 7,400 shares of the biotechnology company’s stock valued at $313,000 after purchasing an additional 550 shares in the last quarter.

Vericel Stock Up 0.5 %

VCEL stock opened at $57.09 on Tuesday. Vericel Co. has a twelve month low of $39.12 and a twelve month high of $63.00. The company has a market cap of $2.82 billion, a PE ratio of 951.66 and a beta of 1.72. The business’s 50-day simple moving average is $57.80 and its 200 day simple moving average is $51.34.

Insider Activity at Vericel

In related news, insider Jonathan Mark Hopper sold 10,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $58.72, for a total transaction of $587,200.00. Following the transaction, the insider now owns 58,371 shares in the company, valued at $3,427,545.12. This represents a 14.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul K. Wotton sold 2,600 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $58.72, for a total transaction of $152,672.00. Following the transaction, the director now owns 27,402 shares in the company, valued at $1,609,045.44. The trade was a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,600 shares of company stock valued at $1,356,072 in the last 90 days. 5.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. Canaccord Genuity Group lifted 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 boosted 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. Stephens reissued an “overweight” rating and set a $65.00 price objective on shares of Vericel in a research note on Wednesday, January 15th. HC Wainwright reissued a “buy” rating and set a $60.00 price objective on shares of Vericel in a research note on Wednesday, January 15th. Finally, Truist Financial boosted their price target on Vericel from $61.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.14.

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.