Columbia Partners L.L.C. Investment Management raised its stake in Vericel Corp (NASDAQ:VCEL) by 60.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 63,688 shares of the biotechnology company’s stock after purchasing an additional 24,099 shares during the quarter. Columbia Partners L.L.C. Investment Management owned 0.15% of Vericel worth $901,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Capital Fund Management S.A. bought a new stake in Vericel in the second quarter valued at approximately $104,000. Quantitative Systematic Strategies LLC bought a new stake in Vericel in the second quarter valued at approximately $108,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Vericel in the second quarter valued at approximately $116,000. Commonwealth Equity Services LLC bought a new stake in Vericel in the second quarter valued at approximately $123,000. Finally, Metropolitan Life Insurance Co. NY bought a new stake in Vericel in the second quarter valued at approximately $128,000. Hedge funds and other institutional investors own 79.31% of the company’s stock.
Shares of Vericel stock opened at $18.44 on Tuesday. The company has a quick ratio of 7.71, a current ratio of 7.96 and a debt-to-equity ratio of 0.14. The company has a market cap of $762.05 million, a P/E ratio of -36.88 and a beta of 3.46. Vericel Corp has a 52 week low of $4.40 and a 52 week high of $18.50.
Several analysts have weighed in on the company. BidaskClub upgraded Vericel from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th. Needham & Company LLC boosted their price objective on Vericel to $18.00 and gave the company a “buy” rating in a research report on Tuesday, November 6th. Finally, BTIG Research boosted their price objective on Vericel from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 6th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $16.75.
In related news, CFO Gerard J. Michel sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $12.35, for a total transaction of $185,250.00. Following the completion of the transaction, the chief financial officer now owns 165,960 shares in the company, valued at $2,049,606. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Dominick Colangelo sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $15.39, for a total value of $769,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 170,000 shares of company stock valued at $2,509,500. 4.70% of the stock is owned by corporate insiders.
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Vericel Company Profile
Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, markets, and sells patient-specific expanded cellular therapies to repair and regenerate damaged tissues and organs. It markets autologous cell therapy products, including MACI, an autologous cellularized scaffold product for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; and Carticel, an autologous chondrocyte implant for the repair of symptomatic cartilage defects of the femoral condyle caused by acute or repetitive trauma in patients that have inadequate response to a prior arthroscopic or other surgical repair procedure.
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