Summit Global Investments Purchases 10,691 Shares of Vericel Co. (NASDAQ:VCEL)

Summit Global Investments lifted its holdings in shares of Vericel Co. (NASDAQ:VCEL - Free Report) by 105.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,831 shares of the biotechnology company's stock after purchasing an additional 10,691 shares during the quarter. Summit Global Investments' holdings in Vericel were worth $880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its stake in Vericel by 4,126.7% in the third quarter. International Assets Investment Management LLC now owns 634 shares of the biotechnology company's stock worth $27,000 after acquiring an additional 619 shares during the last quarter. CWM LLC increased its stake in shares of Vericel by 319.0% during the second quarter. CWM LLC now owns 662 shares of the biotechnology company's stock worth $30,000 after acquiring an additional 504 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Vericel by 48.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company's stock worth $53,000 after purchasing an additional 405 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Vericel by 22.2% during the third 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 during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Vericel by 9.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,484 shares of the biotechnology company's stock valued at $114,000 after acquiring an additional 220 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VCEL. TD Cowen increased their price target on shares of Vericel from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, August 27th. Canaccord Genuity Group started coverage on shares of Vericel in a report on Friday, August 9th. They issued a "buy" rating and a $57.00 target price on the stock. Truist Financial increased their price objective on Vericel from $56.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday, July 16th. Stephens raised their price target on Vericel from $56.00 to $58.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group began coverage on Vericel in a research note on Friday, August 9th. They issued a "buy" rating and a $57.00 price objective on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $57.71.

Insider Activity

In related news, CEO Dominick Colangelo sold 17,500 shares of the company's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $41.38, for a total transaction of $724,150.00. Following the sale, the chief executive officer now owns 220,937 shares in the company, valued at approximately $9,142,373.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Vericel news, Director Steven C. Gilman sold 5,833 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $41.36, for a total value of $241,252.88. Following the transaction, the director now directly owns 11,000 shares of the company's stock, valued at $454,960. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dominick Colangelo sold 17,500 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $41.38, for a total value of $724,150.00. Following the completion of the transaction, the chief executive officer now directly owns 220,937 shares in the company, valued at $9,142,373.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,166 shares of company stock worth $1,200,764 over the last ninety days. Insiders own 5.20% of the company's stock.

Vericel Stock Up 7.9 %

Shares of VCEL traded up $3.97 on Friday, hitting $54.00. The company's stock had a trading volume of 645,360 shares, compared to its average volume of 362,287. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -5,400,000.00 and a beta of 1.66. The firm's fifty day moving average price is $44.27 and its 200-day moving average price is $46.40. Vericel Co. has a fifty-two week low of $32.28 and a fifty-two week high of $54.47.

Vericel (NASDAQ:VCEL - Get Free Report) last released its earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. The firm had revenue of $57.91 million during the quarter, compared to analysts' expectations of $55.32 million. Vericel had a return on equity of 0.35% and a net margin of 0.37%. As a group, equities analysts predict that Vericel Co. will post 0.12 earnings per share for the current fiscal year.

Vericel Company Profile

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.