Vericel Co. (NASDAQ:VCEL) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in Vericel Co. (NASDAQ:VCEL) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 309,372 shares of the biotechnology company’s stock after purchasing an additional 3,700 shares during the period. Bank of New York Mellon Corp owned approximately 0.63% of Vericel worth $16,988,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new position in Vericel in the 4th quarter valued at about $48,000. Farther Finance Advisors LLC boosted its position in Vericel by 48.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company’s stock valued at $53,000 after buying an additional 405 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Vericel in the 3rd quarter valued at about $92,000. Geneos Wealth Management Inc. boosted its position in Vericel by 826.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,511 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 2,240 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Vericel in the 3rd quarter valued at about $146,000.

Insiders Place Their Bets

In other Vericel news, insider Jonathan Siegal sold 3,908 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $61.99, for a total value of $242,256.92. Following the transaction, the insider now owns 1,206 shares of the company’s stock, valued at $74,759.94. This trade represents a 76.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 sale, the director now owns 26,595 shares in the company, valued at $1,662,187.50. The trade was a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock valued at $466,200 over the last quarter. Insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Canaccord Genuity Group increased their price target on shares of Vericel from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of Vericel in a research report on Friday, February 28th. StockNews.com raised shares of Vericel from a “sell” rating to a “hold” rating in a research report on Saturday. Stephens reaffirmed an “overweight” rating and set a $65.00 price target on shares of Vericel in a research report on Wednesday, January 15th. Finally, Truist Financial reaffirmed a “buy” rating and set a $61.00 price target (down previously from $67.00) on shares of Vericel in a research report on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.29.

Vericel Stock Down 2.1 %

Shares of NASDAQ VCEL opened at $47.81 on Wednesday. The firm’s 50-day moving average price is $56.21 and its two-hundred day moving average price is $51.98. Vericel Co. has a 52-week low of $39.12 and a 52-week high of $63.00. The stock has a market capitalization of $2.39 billion, a P/E ratio of 796.97 and a beta of 1.78.

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.