Vericel Co. (NASDAQ:VCEL) Shares Sold by Perkins Capital Management Inc.

Perkins Capital Management Inc. reduced its stake in shares of Vericel Co. (NASDAQ:VCEL) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,650 shares of the biotechnology company’s stock after selling 1,600 shares during the quarter. Vericel accounts for approximately 1.3% of Perkins Capital Management Inc.’s portfolio, making the stock its 24th largest holding. Perkins Capital Management Inc. owned 0.06% of Vericel worth $1,518,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in VCEL. Arcadia Investment Management Corp MI purchased a new stake in shares of Vericel during the 4th quarter worth approximately $48,000. Smartleaf Asset Management LLC boosted its position in Vericel by 511.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the biotechnology company’s stock worth $70,000 after purchasing an additional 1,058 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Vericel by 826.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,511 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 2,240 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Vericel in the third quarter valued at $146,000. Finally, KBC Group NV raised its stake in shares of Vericel by 82.5% during the 4th quarter. KBC Group NV now owns 2,707 shares of the biotechnology company’s stock worth $149,000 after buying an additional 1,224 shares during the last quarter.

Vericel Stock Down 1.9 %

Shares of NASDAQ:VCEL opened at $46.26 on Monday. The company has a market cap of $2.31 billion, a P/E ratio of 771.13 and a beta of 1.78. The business has a fifty day simple moving average of $54.40 and a 200-day simple moving average of $51.72. Vericel Co. has a 52 week low of $39.12 and a 52 week high of $63.00.

Insider Buying and Selling

In other Vericel news, insider Jonathan Siegal sold 3,908 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $61.99, for a total transaction of $242,256.92. Following the completion of the sale, the insider now directly owns 1,206 shares in the company, valued at $74,759.94. This 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 through this hyperlink. Also, CEO Dominick Colangelo sold 26,592 shares of Vericel stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $45.78, for a total transaction of $1,217,381.76. Following the transaction, the chief executive officer now directly owns 259,997 shares in the company, valued at approximately $11,902,662.66. This trade represents a 9.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,092 shares of company stock valued at $1,683,582. Insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on VCEL shares. StockNews.com raised shares of Vericel from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Stephens reiterated an “overweight” rating and issued a $65.00 price target on shares of Vericel in a research report on Wednesday, January 15th. Truist Financial restated a “buy” rating and set a $61.00 price objective (down from $67.00) on shares of Vericel in a research report on Monday, March 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 target price on shares of Vericel in a research note on Friday, February 28th. Finally, BTIG Research boosted their price target on Vericel from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $62.29.

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.