State of Alaska Department of Revenue Sells 550 Shares of Vericel Co. (NASDAQ:VCEL)

State of Alaska Department of Revenue decreased its position in shares of Vericel Co. (NASDAQ:VCEL) by 1.9% during the third quarter, HoldingsChannel reports. The fund owned 27,986 shares of the biotechnology company’s stock after selling 550 shares during the quarter. State of Alaska Department of Revenue’s holdings in Vericel were worth $1,182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in Vericel by 9.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,484 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 220 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Vericel by 22.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,773 shares of the biotechnology company’s stock valued at $77,000 after buying an additional 322 shares during the last quarter. Swiss National Bank raised its holdings in shares of Vericel by 0.4% in the first quarter. Swiss National Bank now owns 89,500 shares of the biotechnology company’s stock worth $4,656,000 after buying an additional 400 shares during the period. PFG Investments LLC lifted its stake in shares of Vericel by 6.2% during 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 boosted its holdings in Vericel by 3.3% during the 2nd quarter. Arizona State Retirement System now owns 12,866 shares of the biotechnology company’s stock valued at $590,000 after acquiring an additional 406 shares during the period.

Vericel Stock Performance

NASDAQ VCEL opened at $44.37 on Tuesday. The firm has a market capitalization of $2.18 billion, a P/E ratio of -4,437,000.00 and a beta of 1.66. The stock has a 50-day simple moving average of $44.52 and a two-hundred day simple moving average of $46.30. Vericel Co. has a fifty-two week low of $32.28 and a fifty-two week high of $54.10.

Insider Activity at Vericel

In other news, Director Steven C. Gilman sold 5,833 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $40.35, for a total transaction of $235,361.55. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at $443,850. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Dominick Colangelo sold 17,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $41.38, for a total transaction of $724,150.00. Following the completion of the sale, the chief executive officer now directly owns 220,937 shares in the company, valued at approximately $9,142,373.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven C. Gilman sold 5,833 shares of Vericel stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $40.35, for a total transaction of $235,361.55. Following the sale, the director now directly owns 11,000 shares in the company, valued at approximately $443,850. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,166 shares of company stock worth $1,200,764. 5.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on VCEL shares. Canaccord Genuity Group started coverage on Vericel in a research report on Friday, August 9th. They set a “buy” rating and a $57.00 target price for the company. TD Cowen boosted their price objective 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. Truist Financial raised their target price on shares of Vericel from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Stephens boosted their price target on Vericel from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, HC Wainwright raised their price objective on Vericel from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat, Vericel has a consensus rating of “Moderate Buy” and a consensus target price of $57.71.

About Vericel

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.