Vericel Co. (NASDAQ:VCEL) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its position in Vericel Co. (NASDAQ:VCEL) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 367,841 shares of the biotechnology company’s stock after selling 45,126 shares during the quarter. Thrivent Financial for Lutherans owned about 0.75% of Vericel worth $20,198,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI acquired a new position in Vericel in the 4th quarter valued at $48,000. Smartleaf Asset Management LLC increased its stake in shares of Vericel by 511.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the biotechnology company’s stock worth $70,000 after acquiring an additional 1,058 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Vericel in the 3rd quarter worth $92,000. Geneos Wealth Management Inc. increased its stake in shares of Vericel by 826.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,511 shares of the biotechnology company’s stock worth $138,000 after acquiring an additional 2,240 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Vericel by 82.5% in the 4th quarter. KBC Group NV now owns 2,707 shares of the biotechnology company’s stock worth $149,000 after acquiring an additional 1,224 shares during the last quarter.

Vericel Price Performance

Shares of Vericel stock opened at $47.18 on Friday. The business has a 50-day moving average of $54.66 and a 200 day moving average of $51.72. Vericel Co. has a 12 month low of $39.12 and a 12 month high of $63.00. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 786.46 and a beta of 1.78.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VCEL. Truist Financial reaffirmed 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. BTIG Research raised their target price on Vericel from $56.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. HC Wainwright reiterated a “buy” rating and set a $60.00 price target on shares of Vericel in a report on Friday, February 28th. StockNews.com upgraded Vericel from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Finally, Canaccord Genuity Group increased their price target on Vericel from $64.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.29.

Insider Activity at Vericel

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 transaction of $1,217,381.76. Following the completion of the transaction, the chief executive officer now directly owns 259,997 shares in the company, valued at $11,902,662.66. This trade represents a 9.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert L. Md Zerbe sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $62.50, for a total value of $156,250.00. Following the transaction, the director now owns 26,595 shares of the company’s stock, valued at $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 34,092 shares of company stock worth $1,683,582 in the last three months. 5.20% of the stock is owned by company insiders.

Vericel Company 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.