Essex Investment Management Co. LLC grew its position in Vericel Corp (NASDAQ:VCEL) by 2.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 157,372 shares of the biotechnology company’s stock after buying an additional 3,048 shares during the period. Essex Investment Management Co. LLC owned 0.36% of Vericel worth $2,738,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in shares of Vericel by 17.1% in the 3rd quarter. Legal & General Group Plc now owns 6,443 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 943 shares during the last quarter. Meeder Asset Management Inc. raised its position in Vericel by 28.7% during the 4th quarter. Meeder Asset Management Inc. now owns 5,765 shares of the biotechnology company’s stock worth $100,000 after buying an additional 1,284 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Vericel during the 4th quarter worth approximately $44,000. Financial Architects Inc purchased a new position in Vericel during the 4th quarter worth approximately $69,000. Finally, American International Group Inc. raised its position in Vericel by 18.6% during the 3rd quarter. American International Group Inc. now owns 28,505 shares of the biotechnology company’s stock worth $403,000 after buying an additional 4,474 shares during the last quarter. Institutional investors and hedge funds own 79.31% of the company’s stock.
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In related news, CFO Gerard J. Michel sold 10,000 shares of Vericel stock in a transaction on Monday, February 11th. The shares were sold at an average price of $17.09, for a total value of $170,900.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven C. Gilman sold 8,500 shares of Vericel stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $17.75, for a total transaction of $150,875.00. Following the completion of the sale, the director now directly owns 8,500 shares in the company, valued at approximately $150,875. The disclosure for this sale can be found here. Insiders sold a total of 65,336 shares of company stock worth $1,112,761 in the last three months. 4.70% of the stock is owned by corporate insiders.
Several research firms have recently weighed in on VCEL. BidaskClub raised shares of Vericel from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Needham & Company LLC lifted their target price on shares of Vericel to $18.00 and gave the company a “buy” rating in a report on Tuesday, November 6th. BTIG Research lifted their target price on shares of Vericel from $17.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, November 6th. Finally, Oppenheimer began coverage on shares of Vericel in a report on Tuesday, January 29th. They set an “outperform” rating and a $23.00 target price for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $18.00.
Vericel stock opened at $19.21 on Friday. Vericel Corp has a 1 year low of $6.80 and a 1 year high of $19.24. The firm has a market capitalization of $785.45 million, a P/E ratio of -38.42 and a beta of 2.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.71 and a current ratio of 7.96.
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Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, markets, and sells patient-specific expanded cellular therapies to repair and regenerate damaged tissues and organs. It markets autologous cell therapy products, including MACI, an autologous cellularized scaffold product for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; and Carticel, an autologous chondrocyte implant for the repair of symptomatic cartilage defects of the femoral condyle caused by acute or repetitive trauma in patients that have inadequate response to a prior arthroscopic or other surgical repair procedure.
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