Vericel Corporation $VCEL Shares Purchased by Summit Global Investments

Summit Global Investments lifted its holdings in Vericel Corporation (NASDAQ:VCEL) by 242.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,506 shares of the biotechnology company’s stock after purchasing an additional 13,817 shares during the quarter. Summit Global Investments’ holdings in Vericel were worth $783,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of VCEL. BlackRock Inc. bought a new position in Vericel during the second quarter valued at $360,023,000. William Blair Investment Management LLC bought a new stake in shares of Vericel in the 2nd quarter worth about $88,662,000. Bank of America Corp DE purchased a new stake in shares of Vericel during the 2nd quarter valued at about $45,210,000. TimesSquare Capital Management LLC purchased a new stake in shares of Vericel during the 2nd quarter valued at about $24,463,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Vericel during the 2nd quarter valued at about $17,723,000.

Vericel Trading Up 0.6%

Shares of VCEL opened at $40.51 on Tuesday. Vericel Corporation has a twelve month low of $28.95 and a twelve month high of $49.32. The company has a market cap of $2.07 billion, a P/E ratio of 86.19 and a beta of 1.02. The company’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 the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Vericel in a research report on Thursday. HC Wainwright restated a “buy” rating and set a $70.00 price objective on shares of Vericel in a research report on Tuesday, July 28th. TD Cowen raised their price objective on Vericel from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Wall Street Zen raised Vericel from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Canaccord Genuity Group set a $60.00 target price on Vericel in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.20.

Vericel Profile

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.