Vericel Corporation $VCEL Shares Purchased by Summit Global Investments

Summit Global Investments boosted its holdings in shares of Vericel Corporation (NASDAQ:VCEL) by 242.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,506 shares of the biotechnology company’s stock after acquiring an additional 13,817 shares during the quarter. Summit Global Investments’ holdings in Vericel were worth $783,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Vericel in the second quarter worth $360,023,000. William Blair Investment Management LLC purchased a new stake in shares of Vericel during the second quarter valued at $88,662,000. Bank of America Corp DE purchased a new stake in shares of Vericel during the second quarter valued at $45,210,000. Dimensional Fund Advisors LP grew its holdings in shares of Vericel by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 844,755 shares of the biotechnology company’s stock worth $27,173,000 after purchasing an additional 29,135 shares during the last quarter. Finally, TimesSquare Capital Management LLC bought a new position in shares of Vericel in the second quarter worth about $24,463,000.

Vericel Trading Up 0.6%

VCEL opened at $40.51 on Tuesday. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 86.19 and a beta of 1.02. Vericel Corporation has a 12-month low of $28.95 and a 12-month high of $49.32. The business’s fifty day simple moving average is $40.54 and its 200-day simple moving average is $38.68.

Analyst Upgrades and Downgrades

Several research analysts recently commented on VCEL shares. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price target on shares of Vericel in a research note on Tuesday, July 28th. Wall Street Zen raised shares of Vericel from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Weiss Ratings restated a “hold (c)” rating on shares of Vericel in a research note on Thursday. Canaccord Genuity Group set a $60.00 target price on shares of Vericel in a research note on Thursday, July 30th. Finally, Truist Financial reduced their target price on shares of Vericel from $58.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, October 14th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.20.

About Vericel

Vericel Corporation is a commercial-stage biopharmaceutical company focused on developing and marketing advanced cell therapies and regenerative medicine products. The company serves orthopedic and burn-care markets, with an emphasis on treatments that use a patient’s own cells or biologic materials to support tissue repair and healing.

Vericel’s primary orthopedic product is MACI, an autologous cultured chondrocyte implant used to repair symptomatic cartilage defects of the knee in adults.