KLP Kapitalforvaltning AS Makes New Investment in Vericel Co. (NASDAQ:VCEL)

KLP Kapitalforvaltning AS purchased a new position in shares of Vericel Co. (NASDAQ:VCEL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,800 shares of the biotechnology company’s stock, valued at approximately $538,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atria Investments Inc grew its position in shares of Vericel by 2.4% during the fourth quarter. Atria Investments Inc now owns 7,952 shares of the biotechnology company’s stock worth $437,000 after buying an additional 184 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Vericel by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 23,900 shares of the biotechnology company’s stock worth $1,312,000 after acquiring an additional 200 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in Vericel by 1.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 13,803 shares of the biotechnology company’s stock worth $758,000 after acquiring an additional 234 shares in the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of Vericel by 1.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 43,781 shares of the biotechnology company’s stock valued at $2,404,000 after purchasing an additional 489 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Vericel by 3.3% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 16,367 shares of the biotechnology company’s stock valued at $899,000 after purchasing an additional 517 shares in the last quarter.

Insider Transactions at Vericel

In related news, CEO Dominick Colangelo sold 26,592 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan Siegal sold 3,908 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 1,206 shares in the company, valued at $74,759.94. This trade represents 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 in the last ninety days. 5.20% of the stock is currently owned by company insiders.

Vericel Trading Down 1.9 %

Shares of VCEL opened at $43.49 on Friday. The stock’s 50 day moving average is $52.05 and its two-hundred day moving average is $51.66. Vericel Co. has a twelve month low of $39.12 and a twelve month high of $63.00. The firm has a market capitalization of $2.18 billion, a PE ratio of 724.95 and a beta of 1.78.

Analysts Set New Price Targets

VCEL has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $60.00 price objective on shares of Vericel in a report on Friday, February 28th. Canaccord Genuity Group increased their price target on shares of Vericel from $64.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. StockNews.com upgraded shares of Vericel from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Truist Financial restated a “buy” rating and issued a $61.00 target price (down previously from $67.00) on shares of Vericel in a report on Monday, March 3rd. Finally, Stephens reiterated an “overweight” rating and set a $65.00 price target on shares of Vericel in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock 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.