Vericel’s (VCEL) Buy Rating Reiterated at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Vericel (NASDAQ:VCEL) in a report issued on Monday,Benzinga reports. The brokerage currently has a $61.00 price target on the biotechnology company’s stock, down from their previous price target of $67.00.

VCEL has been the subject of a number of other research reports. StockNews.com downgraded shares of Vericel from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Canaccord Genuity Group upped their price objective 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. BTIG Research upped their price objective on shares of Vericel from $56.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Stephens reiterated an “overweight” rating and set a $65.00 price objective on shares of Vericel in a research report on Wednesday, January 15th. Finally, HC Wainwright reiterated a “buy” rating and set a $60.00 price objective on shares of Vericel in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.29.

Vericel Trading Up 0.8 %

Shares of Vericel stock opened at $51.53 on Monday. The company has a 50 day moving average of $56.81 and a 200-day moving average of $51.93. Vericel has a 1-year low of $39.12 and a 1-year high of $63.00. The company has a market cap of $2.54 billion, a PE ratio of 858.98 and a beta of 1.72.

Insider Buying and Selling at Vericel

In other news, insider Jonathan Siegal sold 3,908 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $61.99, for a total value of $242,256.92. Following the sale, the insider now directly owns 1,206 shares of the company’s stock, valued at approximately $74,759.94. This represents a 76.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert L. Md Zerbe sold 2,500 shares of the company’s stock in a transaction 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 directly owns 26,595 shares in the company, valued at approximately $1,662,187.50. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,500 shares of company stock worth $466,200. 5.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp bought a new position in Vericel during the fourth quarter worth $215,000. GF Fund Management CO. LTD. bought a new position in Vericel during the fourth quarter worth $57,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Vericel by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 112,837 shares of the biotechnology company’s stock worth $6,196,000 after acquiring an additional 16,466 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Vericel during the fourth quarter worth $1,502,000. Finally, Soleus Capital Management L.P. bought a new position in shares of Vericel in the fourth quarter valued at $4,431,000.

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.