Vericel Co. (NASDAQ:VCEL) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its position in shares of Vericel Co. (NASDAQ:VCEL) by 21.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 862,664 shares of the biotechnology company’s stock after selling 231,006 shares during the period. New York State Common Retirement Fund’s holdings in Vericel were worth $36,448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Vericel by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,413,442 shares of the biotechnology company’s stock worth $177,567,000 after purchasing an additional 39,349 shares in the last quarter. Congress Asset Management Co. increased its holdings in shares of Vericel by 37.4% in the 3rd quarter. Congress Asset Management Co. now owns 1,291,720 shares of the biotechnology company’s stock valued at $54,575,000 after acquiring an additional 351,550 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Vericel by 1.0% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,031,940 shares of the biotechnology company’s stock worth $47,346,000 after acquiring an additional 10,245 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Vericel by 7.9% during the second quarter. William Blair Investment Management LLC now owns 908,141 shares of the biotechnology company’s stock worth $41,666,000 after purchasing an additional 66,464 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Vericel by 34.9% during the second quarter. Federated Hermes Inc. now owns 840,787 shares of the biotechnology company’s stock worth $38,575,000 after purchasing an additional 217,437 shares during the last quarter.

Vericel Price Performance

VCEL opened at $43.99 on Friday. Vericel Co. has a 12 month low of $32.28 and a 12 month high of $54.10. The business has a 50 day simple moving average of $44.63 and a 200-day simple moving average of $46.30. The stock has a market capitalization of $2.16 billion, a P/E ratio of -4,399,000.00 and a beta of 1.67.

Vericel (NASDAQ:VCEL) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). The company had revenue of $52.70 million during the quarter, compared to the consensus estimate of $52.59 million. Vericel had a net margin of 0.37% and a return on equity of 0.35%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the firm earned ($0.11) EPS. Research analysts anticipate that Vericel Co. will post 0.12 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on VCEL shares. StockNews.com downgraded shares of Vericel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Truist Financial raised their price objective on shares of Vericel from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. BTIG Research reduced their target price on shares of Vericel from $56.00 to $55.00 and set a “buy” rating for the company in a report on Monday, July 15th. TD Cowen increased their target price on shares of Vericel from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Finally, HC Wainwright upped their price objective on Vericel from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.71.

Insider Buying and Selling at Vericel

In other news, Director Steven C. Gilman sold 5,833 shares of Vericel stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $41.36, for a total transaction of $241,252.88. Following the completion of the transaction, the director now owns 11,000 shares of the company’s stock, valued at $454,960. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Steven C. Gilman sold 5,833 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $41.36, for a total transaction of $241,252.88. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $454,960. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dominick Colangelo sold 17,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $41.38, for a total value of $724,150.00. Following the completion of the sale, the chief executive officer now directly owns 220,937 shares in the company, valued at approximately $9,142,373.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,166 shares of company stock valued at $1,200,764. 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.