TimesSquare Capital Management LLC reduced its position in shares of Vericel Corporation (NASDAQ:VCEL – Free Report) by 24.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 631,256 shares of the biotechnology company’s stock after selling 205,605 shares during the period. TimesSquare Capital Management LLC’s holdings in Vericel were worth $22,732,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in VCEL. AQR Capital Management LLC acquired a new position in Vericel during the 1st quarter worth approximately $242,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Vericel by 6.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,445 shares of the biotechnology company’s stock worth $1,403,000 after buying an additional 1,847 shares during the period. Goldman Sachs Group Inc. raised its stake in Vericel by 13.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 371,486 shares of the biotechnology company’s stock worth $16,576,000 after buying an additional 44,333 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Vericel by 9.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,028 shares of the biotechnology company’s stock worth $5,490,000 after buying an additional 10,191 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in shares of Vericel by 5.1% in the second quarter. Qube Research & Technologies Ltd now owns 277,253 shares of the biotechnology company’s stock worth $11,797,000 after purchasing an additional 13,422 shares during the last quarter.
Vericel Stock Down 1.1%
Shares of Vericel stock opened at $34.49 on Wednesday. The company has a market cap of $1.76 billion, a PE ratio of 82.12 and a beta of 1.15. Vericel Corporation has a 52 week low of $28.95 and a 52 week high of $45.97. The business has a 50 day moving average price of $33.62 and a 200-day moving average price of $36.05.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on VCEL. HC Wainwright reissued a “buy” rating and issued a $64.00 price objective on shares of Vericel in a research note on Friday, May 8th. Weiss Ratings downgraded Vericel from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Truist Financial lowered their price objective on Vericel from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Wall Street Zen downgraded Vericel from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Leerink Partners reissued an “outperform” rating and issued a $46.00 price objective on shares of Vericel in a research note on Tuesday, March 10th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Vericel presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.40.
Read Our Latest Report on VCEL
Insider Activity at Vericel
In related news, insider Jonathan Mark Hopper sold 3,472 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $35.00, for a total transaction of $121,520.00. Following the completion of the sale, the insider directly owned 75,556 shares of the company’s stock, valued at approximately $2,644,460. This trade represents a 4.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.60% of the company’s stock.
Vericel Company Profile
Vericel Corporation is a biotechnology company specializing in the development, manufacturing and commercialization of cell-based therapies for patients with severe diseases and conditions. The company’s expertise lies in regenerative medicine, where it harnesses the power of autologous cell processing to create products designed to restore function and promote healing in damaged tissues.
Vericel currently markets two FDA-approved therapies. MACI® (autologous cultured chondrocytes on porcine collagen membrane) is indicated for the repair of symptomatic cartilage defects of the knee in adult patients.
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