EFG Asset Management North America Corp. Boosts Holdings in Vericel Co. (NASDAQ:VCEL)

EFG Asset Management North America Corp. grew its position in shares of Vericel Co. (NASDAQ:VCEL) by 83.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,064 shares of the biotechnology company’s stock after purchasing an additional 48,295 shares during the period. EFG Asset Management North America Corp.’s holdings in Vericel were worth $5,819,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its position in Vericel by 1.0% during the third quarter. FMR LLC now owns 2,372,812 shares of the biotechnology company’s stock worth $100,251,000 after buying an additional 22,461 shares in the last quarter. Congress Asset Management Co. increased its position in shares of Vericel by 12.6% in the fourth quarter. Congress Asset Management Co. now owns 1,454,139 shares of the biotechnology company’s stock worth $79,847,000 after purchasing an additional 162,419 shares during the last quarter. GW&K Investment Management LLC raised its stake in Vericel by 2.4% in the fourth quarter. GW&K Investment Management LLC now owns 1,273,964 shares of the biotechnology company’s stock valued at $69,953,000 after purchasing an additional 30,180 shares in the last quarter. William Blair Investment Management LLC lifted its position in Vericel by 66.3% during the fourth quarter. William Blair Investment Management LLC now owns 1,258,416 shares of the biotechnology company’s stock valued at $69,100,000 after purchasing an additional 501,736 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Vericel by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,154,053 shares of the biotechnology company’s stock worth $48,768,000 after buying an additional 9,613 shares in the last quarter.

Vericel Price Performance

Shares of Vericel stock opened at $47.94 on Tuesday. The stock has a market capitalization of $2.40 billion, a P/E ratio of 799.13 and a beta of 1.78. Vericel Co. has a one year low of $39.12 and a one year high of $63.00. The business’s 50 day simple moving average is $54.16 and its two-hundred day simple moving average is $51.73.

Analysts Set New Price Targets

Several analysts have recently weighed in on VCEL shares. Stephens restated an “overweight” rating and set a $65.00 price objective on shares of Vericel in a research report on Wednesday, January 15th. BTIG Research raised their price target on Vericel from $56.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. StockNews.com upgraded Vericel from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Truist Financial reissued a “buy” rating and set a $61.00 price objective (down from $67.00) on shares of Vericel in a report on Monday, March 3rd. Finally, Canaccord Genuity Group upped their target price on Vericel from $64.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.29.

Insider Buying and Selling

In related news, CEO Dominick Colangelo sold 26,592 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $45.78, for a total value of $1,217,381.76. Following the sale, the chief executive officer now directly owns 259,997 shares of the company’s stock, valued at $11,902,662.66. This trade represents a 9.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan Siegal sold 3,908 shares of the company’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 transaction, the insider now directly owns 1,206 shares of the company’s stock, valued at $74,759.94. The trade was a 76.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,092 shares of company stock valued at $1,683,582 over the last three months. 5.20% of the stock is owned by company insiders.

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.