Fed’s Waller emerges as top candidate for Fed chair - report
Vericel Corp (NASDAQ:VCEL) President and CEO Dominick Colangelo has recently sold a significant portion of his shares in the company. According to the latest SEC filings, Colangelo sold 35,000 shares of Vericel stock over two days, with transactions totaling over $1.8 million. The shares were sold at prices ranging between $51.4 and $51.55.
The transactions occurred on July 17 and 18, and were reported in a Form 4 filing with the Securities and Exchange Commission. It is worth noting that the sales were made according to a pre-arranged Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for selling stocks they own.
In addition to the sales, Colangelo also acquired 35,000 shares through the exercise of stock options at a price of $3.02 per share, amounting to a total of $105,700. These transactions were also conducted over the same two days. The options, which gave Colangelo the right to buy a total of 440,000 shares, were part of an incentive plan that began vesting in equal quarterly installments after April 5, 2015, contingent upon his continued service to the company.
Following these transactions, Colangelo's ownership in the company includes shares acquired through Vericel's 2015 Employee Stock Purchase Plan, as indicated in the footnotes of the SEC filing. These shares are in addition to the ones directly involved in the recent buy and sell activities.
Investors and followers of Vericel Corp may consider these transactions as part of their assessment of the company's stock performance and insider confidence. Vericel Corp specializes in biological products and is headquartered in Cambridge, Massachusetts.
In other recent news, Vericel Corporation demonstrated a robust financial performance in the first quarter of 2024, with total revenue exceeding $51 million, a 25% increase from the previous year. The company's MACI and Burn Care franchises, which saw revenues rise by 18% and over 60% respectively, contributed significantly to this growth. As a result of this strong performance, Vericel has raised its full-year revenue guidance to between $238 million and $242 million.
TD Cowen has initiated coverage of Vericel with a Buy rating, citing the company's financial performance and growth prospects within the medical technology sector. The firm's analysis underscores Vericel's robust revenue growth and achievement of EBITDA profitability, attributing this to the company's strong product pipeline and upcoming new product introductions.
Vericel is planning to expand its sales force in order to support new product launches and increase market penetration. The company anticipates that most target centers will be ready to use NexoBrid, one of its key products, by the end of 2024. These recent developments indicate Vericel's commitment to expansion and profitability.
InvestingPro Insights
Vericel Corp (NASDAQ:VCEL), a leader in biological products, has been a subject of keen investor interest, not least because of the recent insider transactions by its CEO, Dominick Colangelo. To provide a more comprehensive view, let's delve into some key data and insights from InvestingPro.
The company's market capitalization stands at a robust $2.43 billion, reflecting investor confidence in its market position. Despite a high Price/Earnings (P/E) ratio of 5376.36 for the last twelve months as of Q1 2024, the company's stock has shown considerable growth, with a 30.52% one-year total return. This high P/E ratio may indicate that investors are expecting higher earnings growth in the future, which aligns with an InvestingPro Tip that net income is expected to grow this year.
Another noteworthy InvestingPro Tip is that Vericel's liquid assets exceed its short-term obligations, suggesting a strong liquidity position that may reassure investors about the company's ability to meet its immediate financial commitments.
For investors looking for more detailed analyses, there are additional InvestingPro Tips available for Vericel Corp at https://www.investing.com/pro/VCEL, including insights on earnings revisions, stock volatility, and debt levels. With a total of 17 additional tips available, users can gain a deeper understanding of the company's financial health and market potential.
Interested readers can take advantage of a special offer using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, providing access to a wealth of data and expert insights to inform their investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.