Allspring Global Investments Holdings LLC Has $17.11 Million Holdings in Vericel Co. (NASDAQ:VCEL)

Allspring Global Investments Holdings LLC lessened its holdings in Vericel Co. (NASDAQ:VCEL) by 3.8% during the third quarter, HoldingsChannel reports. The fund owned 404,861 shares of the biotechnology company’s stock after selling 15,782 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Vericel were worth $17,105,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its holdings in shares of Vericel by 9.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,484 shares of the biotechnology company’s stock worth $114,000 after acquiring an additional 220 shares during the last quarter. MCF Advisors LLC raised its holdings in shares of Vericel by 86.1% in the 1st quarter. MCF Advisors LLC now owns 482 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 223 shares during the last quarter. Swiss National Bank raised its holdings in shares of Vericel by 0.4% in the 1st quarter. Swiss National Bank now owns 89,500 shares of the biotechnology company’s stock worth $4,656,000 after acquiring an additional 400 shares during the last quarter. PFG Investments LLC raised its holdings in shares of Vericel by 6.2% in the 2nd quarter. PFG Investments LLC now owns 6,850 shares of the biotechnology company’s stock worth $314,000 after acquiring an additional 400 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Vericel by 3.3% in the 2nd quarter. Arizona State Retirement System now owns 12,866 shares of the biotechnology company’s stock worth $590,000 after acquiring an additional 406 shares during the last quarter.

Vericel Stock Up 1.4 %

Shares of VCEL stock opened at $42.87 on Friday. The company has a 50 day moving average of $45.03 and a 200-day moving average of $46.51. Vericel Co. has a 12-month low of $32.28 and a 12-month high of $54.10. The firm has a market cap of $2.08 billion, a P/E ratio of -4,287.00 and a beta of 1.67.

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

Insider Transactions at Vericel

In related news, CEO Dominick Colangelo sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $41.38, for a total value of $724,150.00. Following the completion of the transaction, the chief executive officer now directly owns 220,937 shares of the company’s stock, valued at approximately $9,142,373.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Dominick Colangelo sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $41.38, for a total value of $724,150.00. Following the completion of the transaction, the chief executive officer now directly owns 220,937 shares of the company’s stock, valued at approximately $9,142,373.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven C. Gilman sold 5,833 shares of the firm’s stock in a transaction that occurred 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 directly owns 11,000 shares of the company’s stock, valued at approximately $454,960. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,166 shares of company stock worth $1,200,764 in the last quarter. Insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

VCEL has been the topic of a number of analyst reports. BTIG Research lowered their target price on shares of Vericel from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Truist Financial increased their price objective on shares of Vericel from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. HC Wainwright increased their price objective on shares of Vericel from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. StockNews.com lowered shares of Vericel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Finally, TD Cowen increased their price objective on shares of Vericel from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.71.

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.