Summit Creek Advisors LLC Boosts Stake in Vericel Corporation $VCEL

Summit Creek Advisors LLC increased its position in shares of Vericel Corporation (NASDAQ:VCEL) by 12.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 393,479 shares of the biotechnology company’s stock after purchasing an additional 42,094 shares during the quarter. Vericel accounts for 2.3% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 19th biggest holding. Summit Creek Advisors LLC owned approximately 0.78% of Vericel worth $16,743,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. EFG Asset Management North America Corp. raised its holdings in Vericel by 35.4% during the second quarter. EFG Asset Management North America Corp. now owns 138,346 shares of the biotechnology company’s stock worth $5,890,000 after purchasing an additional 36,183 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Vericel by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 303,854 shares of the biotechnology company’s stock worth $12,929,000 after purchasing an additional 3,891 shares during the last quarter. Geneva Capital Management LLC raised its holdings in Vericel by 30.7% during the second quarter. Geneva Capital Management LLC now owns 1,784,927 shares of the biotechnology company’s stock worth $75,949,000 after purchasing an additional 419,183 shares during the last quarter. Scholtz & Company LLC raised its holdings in Vericel by 0.9% during the second quarter. Scholtz & Company LLC now owns 50,573 shares of the biotechnology company’s stock worth $2,152,000 after purchasing an additional 454 shares during the last quarter. Finally, Atria Investments Inc raised its holdings in Vericel by 44.3% during the second quarter. Atria Investments Inc now owns 10,273 shares of the biotechnology company’s stock worth $437,000 after purchasing an additional 3,154 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently issued reports on VCEL. Canaccord Genuity Group reduced their price objective on Vericel from $61.00 to $58.00 and set a “buy” rating for the company in a report on Friday, August 1st. BTIG Research cut Vericel from a “buy” rating to a “neutral” rating in a report on Wednesday, September 17th. Zacks Research raised Vericel from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Vericel in a report on Wednesday, October 8th. Finally, Truist Financial cut their price target on Vericel from $46.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.40.

Vericel Stock Up 2.6%

NASDAQ VCEL opened at $37.20 on Thursday. Vericel Corporation has a fifty-two week low of $29.24 and a fifty-two week high of $63.00. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 310.03 and a beta of 1.41. The business has a fifty day moving average of $33.67 and a 200-day moving average of $37.74.

About Vericel

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.