Summit Creek Advisors LLC bought a new position in shares of Vericel Corporation (NASDAQ:VCEL – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor bought 219,312 shares of the biotechnology company’s stock, valued at approximately $9,757,000. Vericel accounts for 3.3% of Summit Creek Advisors LLC’s portfolio, making the stock its 2nd biggest holding.
A number of other institutional investors also recently bought and sold shares of VCEL. Kestra Advisory Services LLC purchased a new position in shares of Vericel during the fourth quarter worth $27,000. Quarry LP acquired a new stake in Vericel during the 4th quarter worth about $31,000. Farther Finance Advisors LLC raised its stake in shares of Vericel by 116.5% during the 4th quarter. Farther Finance Advisors LLC now owns 970 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 522 shares during the last quarter. Truvestments Capital LLC raised its stake in shares of Vericel by 175.4% during the 4th quarter. Truvestments Capital LLC now owns 1,534 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 977 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of Vericel in the 4th quarter valued at about $58,000.
Vericel Stock Performance
Shares of Vericel stock opened at $44.26 on Wednesday. The firm has a 50-day simple moving average of $44.33 and a two-hundred day simple moving average of $38.01. The company has a market cap of $2.27 billion, a P/E ratio of 94.17 and a beta of 1.06. Vericel Corporation has a fifty-two week low of $28.95 and a fifty-two week high of $49.32.
Analysts Set New Price Targets
VCEL has been the topic of a number of recent research reports. Truist Financial restated a “buy” rating and issued a $58.00 target price (up from $54.00) on shares of Vericel in a research note on Friday, July 31st. Wall Street Zen upgraded Vericel from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of Vericel in a report on Tuesday, July 28th. Canaccord Genuity Group set a $60.00 price objective on Vericel in a research report on Thursday, July 30th. Finally, TD Cowen raised their price objective on shares of Vericel from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.40.
Get Our Latest Analysis on VCEL
Insiders Place Their Bets
In other news, insider Jonathan Siegal sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $48.90, for a total value of $220,050.00. Following the completion of the sale, the insider directly owned 1,078 shares in the company, valued at $52,714.20. The trade was a 80.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sean C. Flynn sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $40.21, for a total value of $603,150.00. Following the transaction, the insider directly owned 1,647 shares of the company’s stock, valued at approximately $66,225.87. The trade was a 90.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 52,232 shares of company stock worth $2,304,217. 7.60% of the stock is owned by company insiders.
Vericel Profile
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.
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