Kornitzer Capital Management Inc. KS Purchases Shares of 12,000 Vericel Co. (NASDAQ:VCEL)

Kornitzer Capital Management Inc. KS purchased a new stake in shares of Vericel Co. (NASDAQ:VCEL) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 12,000 shares of the biotechnology company’s stock, valued at approximately $659,000.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in Vericel by 4,126.7% during the 3rd quarter. International Assets Investment Management LLC now owns 634 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 619 shares during the period. Farther Finance Advisors LLC boosted its position in Vericel by 48.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company’s stock valued at $53,000 after buying an additional 405 shares during the period. Mirae Asset Global Investments Co. Ltd. raised 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 in the last quarter. Meeder Asset Management Inc. bought a new position in Vericel in the 3rd quarter worth $92,000. Finally, Geneos Wealth Management Inc. raised its holdings in 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 purchasing an additional 2,240 shares in the last quarter.

Vericel Stock Performance

Shares of VCEL stock opened at $57.78 on Thursday. Vericel Co. has a one year low of $39.12 and a one year high of $63.00. The company’s 50-day moving average is $57.81 and its 200 day moving average is $51.48. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 963.16 and a beta of 1.72.

Wall Street Analyst Weigh In

Several research analysts have commented on VCEL shares. StockNews.com upgraded shares of Vericel from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. Truist Financial upped their price objective on shares of Vericel from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. BTIG Research upped their price objective on shares of Vericel from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. HC Wainwright restated a “buy” rating and issued a $60.00 price objective on shares of Vericel in a report on Wednesday, January 15th. Finally, Canaccord Genuity Group upped their price objective on shares of 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.14.

Insider Activity at Vericel

In related news, insider Jonathan Siegal sold 1,092 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $61.99, for a total transaction of $67,693.08. Following the sale, the insider now directly owns 1,206 shares of the company’s stock, valued at approximately $74,759.94. This represents a 47.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan Mark Hopper sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $58.72, for a total transaction of $587,200.00. Following the sale, the insider now directly owns 58,371 shares in the company, valued at approximately $3,427,545.12. The trade was a 14.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,600 shares of company stock valued at $1,356,072. 7.20% of the stock is owned by insiders.

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.