Envestnet Portfolio Solutions Inc. Buys New Stake in Vericel Co. (NASDAQ:VCEL)

Envestnet Portfolio Solutions Inc. purchased a new position in Vericel Co. (NASDAQ:VCEL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,752 shares of the biotechnology company’s stock, valued at approximately $261,000.

Other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors LLC lifted its position in shares of Vericel by 7.1% during the 4th quarter. Natixis Advisors LLC now owns 38,902 shares of the biotechnology company’s stock worth $2,136,000 after buying an additional 2,564 shares during the period. Swiss National Bank lifted its holdings in shares of Vericel by 6.7% during the fourth quarter. Swiss National Bank now owns 96,500 shares of the biotechnology company’s stock valued at $5,299,000 after acquiring an additional 6,100 shares during the period. Avantax Advisory Services Inc. boosted its stake in shares of Vericel by 1.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 13,803 shares of the biotechnology company’s stock valued at $758,000 after purchasing an additional 234 shares in the last quarter. Moran Wealth Management LLC grew its holdings in shares of Vericel by 7.3% in the 4th quarter. Moran Wealth Management LLC now owns 11,540 shares of the biotechnology company’s stock worth $634,000 after purchasing an additional 785 shares during the last quarter. Finally, Amundi increased its position in shares of Vericel by 184.6% during the 4th quarter. Amundi now owns 24,568 shares of the biotechnology company’s stock worth $1,463,000 after purchasing an additional 15,936 shares in the last quarter.

Insider Buying and Selling

In other news, insider Jonathan Siegal sold 1,092 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $61.99, for a total value of $67,693.08. Following the transaction, the insider now owns 1,206 shares of the company’s stock, valued at approximately $74,759.94. This trade represents a 47.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert L. Md Zerbe sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $62.50, for a total transaction of $156,250.00. Following the sale, the director now directly owns 26,595 shares of the company’s stock, valued at approximately $1,662,187.50. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,092 shares of company stock worth $1,683,582 over the last three months. 5.20% of the stock is currently owned by company insiders.

Vericel Stock Down 3.4 %

VCEL stock opened at $44.50 on Friday. Vericel Co. has a twelve month low of $39.12 and a twelve month high of $63.00. The company has a market cap of $2.23 billion, a P/E ratio of 741.79 and a beta of 1.78. The business has a fifty day moving average of $53.23 and a 200-day moving average of $51.68.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Canaccord Genuity Group upped their price objective on shares of Vericel from $64.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. StockNews.com upgraded Vericel from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of Vericel in a report on Friday, February 28th. Stephens reissued an “overweight” rating and issued a $65.00 price objective on shares of Vericel in a research note on Wednesday, January 15th. Finally, Truist Financial restated a “buy” rating and issued a $61.00 target price (down from $67.00) on shares of Vericel in a research note on Monday, March 3rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.29.

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.