Public Sector Pension Investment Board Sells 2,900 Shares of Vericel Co. (NASDAQ:VCEL)

Public Sector Pension Investment Board decreased its position in shares of Vericel Co. (NASDAQ:VCEL) by 2.7% in the 3rd quarter, Holdings Channel reports. The fund owned 104,011 shares of the biotechnology company’s stock after selling 2,900 shares during the quarter. Public Sector Pension Investment Board’s holdings in Vericel were worth $4,394,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Vericel by 4.6% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,048 shares of the biotechnology company’s stock worth $45,590,000 after purchasing an additional 47,108 shares during the last quarter. Scholtz & Company LLC bought a new position in shares of Vericel in the 2nd quarter worth $1,357,000. Atria Investments Inc raised its position in shares of Vericel by 21.6% during the 3rd quarter. Atria Investments Inc now owns 7,768 shares of the biotechnology company’s stock valued at $328,000 after buying an additional 1,378 shares in the last quarter. Premier Fund Managers Ltd bought a new stake in shares of Vericel during the 3rd quarter worth $781,000. Finally, Allspring Global Investments Holdings LLC grew its position in Vericel by 6.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 420,643 shares of the biotechnology company’s stock worth $19,299,000 after acquiring an additional 25,626 shares in the last quarter.

Insider Buying and Selling

In related news, CEO Dominick Colangelo sold 17,500 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was 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 owns 220,937 shares of the company’s stock, valued at $9,142,373.06. This trade represents a 7.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert L. Md Zerbe sold 2,500 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the transaction, the director now directly owns 26,595 shares in the company, valued at approximately $1,595,700. The trade was a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,666 shares of company stock valued at $1,350,764 over the last ninety days. 5.20% of the stock is owned by insiders.

Vericel Stock Performance

NASDAQ:VCEL opened at $58.74 on Tuesday. Vericel Co. has a fifty-two week low of $32.31 and a fifty-two week high of $61.49. The business has a 50 day moving average price of $47.60 and a 200-day moving average price of $47.41. The firm has a market cap of $2.90 billion, a PE ratio of 979.16 and a beta of 1.66.

Vericel (NASDAQ:VCEL) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. Vericel had a net margin of 1.56% and a return on equity of 1.48%. The business had revenue of $57.91 million during the quarter, compared to analysts’ expectations of $55.32 million. Research analysts predict that Vericel Co. will post 0.13 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VCEL. StockNews.com raised Vericel from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 target price on shares of Vericel in a research note on Friday, November 8th. TD Cowen increased their price target on shares of Vericel from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. BTIG Research boosted their price objective on shares of Vericel from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Canaccord Genuity Group assumed coverage on shares of Vericel in a report on Friday, August 9th. They set a “buy” rating and a $57.00 target price on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Vericel currently has a consensus rating of “Moderate Buy” and an average price target of $59.71.

Vericel 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.