Vericel Co. (NASDAQ:VCEL) Shares Bought by Truist Financial Corp

Truist Financial Corp boosted its position in shares of Vericel Co. (NASDAQ:VCEL) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,827 shares of the biotechnology company’s stock after buying an additional 712 shares during the quarter. Truist Financial Corp owned approximately 0.10% of Vericel worth $2,846,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VCEL. Geneva Capital Management LLC grew its position in shares of Vericel by 61.4% in the third quarter. Geneva Capital Management LLC now owns 1,104,386 shares of the biotechnology company’s stock valued at $46,660,000 after purchasing an additional 420,078 shares during the period. Wellington Management Group LLP grew its position in shares of Vericel by 214.0% in the third quarter. Wellington Management Group LLP now owns 587,857 shares of the biotechnology company’s stock valued at $24,837,000 after purchasing an additional 400,667 shares during the period. Congress Asset Management Co. grew its position in shares of Vericel by 37.4% in 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 during the period. TimesSquare Capital Management LLC grew its position in shares of Vericel by 54.8% in the third quarter. TimesSquare Capital Management LLC now owns 590,145 shares of the biotechnology company’s stock valued at $24,934,000 after purchasing an additional 209,009 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Vericel in the third quarter valued at about $4,973,000.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $60.00 target price on shares of Vericel in a research report on Wednesday, January 15th. Stephens reissued an “overweight” rating and issued a $65.00 price target on shares of Vericel in a research note on Wednesday, January 15th. Canaccord Genuity Group raised their price target on shares of Vericel from $64.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. StockNews.com raised shares of Vericel from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. Finally, BTIG Research lifted their target price on shares of Vericel from $56.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.14.

Vericel Price Performance

Shares of VCEL opened at $52.52 on Wednesday. Vericel Co. has a 1-year low of $39.12 and a 1-year high of $63.00. The stock has a market cap of $2.59 billion, a PE ratio of 875.48 and a beta of 1.72. The firm has a 50-day simple moving average of $57.48 and a two-hundred day simple moving average of $51.75.

Insider Activity at Vericel

In other Vericel news, insider Jonathan Mark Hopper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $58.72, for a total transaction of $587,200.00. Following the completion of the transaction, the insider now owns 58,371 shares in the company, valued at $3,427,545.12. The trade was a 14.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul K. Wotton sold 2,600 shares of the business’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 of the company’s stock, valued at $1,609,045.44. This trade represents a 8.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,100 shares of company stock worth $1,206,072. Corporate insiders own 5.20% of the company’s stock.

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.