New York State Common Retirement Fund Sells 874,932 Shares of Vericel Corporation $VCEL

New York State Common Retirement Fund lowered its holdings in shares of Vericel Corporation (NASDAQ:VCEL) by 98.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,577 shares of the biotechnology company’s stock after selling 874,932 shares during the period. New York State Common Retirement Fund’s holdings in Vericel were worth $490,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in shares of Vericel by 38.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 118,856 shares of the biotechnology company’s stock worth $5,057,000 after acquiring an additional 32,976 shares during the period. Frontier Capital Management Co. LLC raised its position in Vericel by 74.3% in the second quarter. Frontier Capital Management Co. LLC now owns 398,960 shares of the biotechnology company’s stock worth $16,976,000 after purchasing an additional 170,006 shares in the last quarter. Summit Creek Advisors LLC raised its position in Vericel by 35.1% in the third quarter. Summit Creek Advisors LLC now owns 531,603 shares of the biotechnology company’s stock worth $16,730,000 after purchasing an additional 138,124 shares in the last quarter. Atria Investments Inc lifted its stake in Vericel by 44.3% during the second quarter. Atria Investments Inc now owns 10,273 shares of the biotechnology company’s stock worth $437,000 after purchasing an additional 3,154 shares during the period. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Vericel during the second quarter worth about $204,000.

Vericel Price Performance

Shares of VCEL opened at $35.59 on Wednesday. The company has a market capitalization of $1.80 billion, a P/E ratio of 148.30 and a beta of 1.24. Vericel Corporation has a one year low of $29.24 and a one year high of $58.77. The business’s 50 day simple moving average is $37.11 and its 200-day simple moving average is $36.17.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on VCEL shares. Truist Financial lowered their price objective on Vericel from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. Zacks Research lowered Vericel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Vericel in a research note on Monday, December 29th. Finally, Wall Street Zen raised Vericel from a “hold” rating to a “buy” rating in a report on Sunday, January 25th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

About Vericel

Vericel Corporation is a biotechnology company specializing in the development, manufacturing and commercialization of cell-based therapies for patients with severe diseases and conditions. The company’s expertise lies in regenerative medicine, where it harnesses the power of autologous cell processing to create products designed to restore function and promote healing in damaged tissues.

Vericel currently markets two FDA-approved therapies. MACI® (autologous cultured chondrocytes on porcine collagen membrane) is indicated for the repair of symptomatic cartilage defects of the knee in adult patients.