CANADA LIFE ASSURANCE Co Reduces Position in Vericel Co. (NASDAQ:VCEL)

CANADA LIFE ASSURANCE Co trimmed its holdings in Vericel Co. (NASDAQ:VCEL) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,515 shares of the biotechnology company’s stock after selling 1,419 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.12% of Vericel worth $3,318,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in VCEL. Meeder Asset Management Inc. lifted its position in Vericel by 8.4% during the fourth quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company’s stock worth $129,000 after buying an additional 183 shares in the last quarter. Atria Investments Inc increased its stake in shares of Vericel by 2.4% in the 4th quarter. Atria Investments Inc now owns 7,952 shares of the biotechnology company’s stock worth $437,000 after acquiring an additional 184 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Vericel by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 23,900 shares of the biotechnology company’s stock worth $1,312,000 after acquiring an additional 200 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of Vericel by 1.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 13,803 shares of the biotechnology company’s stock valued at $758,000 after acquiring an additional 234 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Vericel by 8.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,137 shares of the biotechnology company’s stock valued at $282,000 after purchasing an additional 405 shares during the period.

Vericel Price Performance

Shares of Vericel stock opened at $39.73 on Friday. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 662.28 and a beta of 1.61. The business has a 50-day moving average of $45.76 and a 200 day moving average of $51.28. Vericel Co. has a 12 month low of $37.76 and a 12 month high of $63.00.

Insider Activity

In other Vericel news, insider Jonathan Siegal sold 3,908 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 1,206 shares of the company’s stock, valued at $74,759.94. This trade represents a 76.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert L. Md Zerbe sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $62.50, for a total value of $156,250.00. Following the sale, the director now directly owns 26,595 shares in the company, valued at $1,662,187.50. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,942 shares of company stock valued at $2,724,548. 5.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on VCEL shares. Truist Financial decreased their target price on shares of Vericel from $61.00 to $51.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Stephens reiterated an “overweight” rating and issued a $65.00 price objective on shares of Vericel in a research report on Wednesday, January 15th. HC Wainwright restated a “buy” rating and issued a $60.00 target price on shares of Vericel in a research report on Friday, February 28th. StockNews.com upgraded Vericel from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Finally, Canaccord Genuity Group boosted their price objective on shares of Vericel from $64.00 to $67.00 and gave the company a “buy” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.86.

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.