Vericel (NASDAQ:VCEL) Shares Gap Down – Time to Sell?

Vericel Co. (NASDAQ:VCEL)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $58.67, but opened at $55.09. Vericel shares last traded at $54.98, with a volume of 255,029 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VCEL. StockNews.com upgraded Vericel from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. HC Wainwright restated a “buy” rating and issued a $60.00 price objective on shares of Vericel in a report on Wednesday. Truist Financial upped their price objective on Vericel from $61.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $60.00 target price on shares of Vericel in a report on Tuesday, November 19th. Finally, BTIG Research upped their target price on Vericel from $56.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Vericel currently has an average rating of “Moderate Buy” and an average price target of $62.14.

Vericel Stock Down 3.6 %

The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 942.49 and a beta of 1.72. The firm has a 50-day moving average of $56.61 and a two-hundred day moving average of $49.84.

Vericel (NASDAQ:VCEL) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $57.91 million for the quarter, compared to analyst estimates of $55.32 million. Vericel had a return on equity of 1.48% and a net margin of 1.56%. As a group, sell-side analysts predict that Vericel Co. will post 0.13 EPS for the current year.

Insider Activity at Vericel

In other news, Director Robert L. Md Zerbe sold 2,500 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $60.00, for a total transaction of $150,000.00. Following the completion of the sale, the director now owns 26,595 shares in the company, valued at approximately $1,595,700. This represents a 8.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul K. Wotton sold 2,600 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $58.72, for a total value of $152,672.00. Following the completion of the sale, the director now owns 27,402 shares of the company’s stock, valued at approximately $1,609,045.44. This trade represents a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,100 shares of company stock valued at $889,872. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Vericel

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its holdings in Vericel by 4,126.7% in the 3rd quarter. International Assets Investment Management LLC now owns 634 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 619 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Vericel by 48.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company’s stock worth $53,000 after purchasing an additional 405 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Vericel by 22.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,773 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 322 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Vericel in the 3rd quarter worth approximately $92,000. Finally, Quantbot Technologies LP acquired a new stake in Vericel in the 3rd quarter worth approximately $146,000.

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.