Summit Global Investments Has $668,000 Stake in Vericel Co. (NASDAQ:VCEL)

Summit Global Investments lowered its holdings in Vericel Co. (NASDAQ:VCEL) by 41.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,168 shares of the biotechnology company’s stock after selling 8,663 shares during the quarter. Summit Global Investments’ holdings in Vericel were worth $668,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Arcadia Investment Management Corp MI bought a new position in shares of Vericel in the fourth quarter valued at $48,000. Smartleaf Asset Management LLC raised its holdings in shares of Vericel by 511.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the biotechnology company’s stock worth $70,000 after acquiring an additional 1,058 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Vericel by 826.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,511 shares of the biotechnology company’s stock valued at $138,000 after acquiring an additional 2,240 shares in the last quarter. KBC Group NV boosted its stake in Vericel by 82.5% during the 4th quarter. KBC Group NV now owns 2,707 shares of the biotechnology company’s stock valued at $149,000 after purchasing an additional 1,224 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Vericel during the 3rd quarter worth approximately $146,000.

Analysts Set New Price Targets

VCEL has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $60.00 target price on shares of Vericel in a report on Friday, February 28th. Stephens restated an “overweight” rating and set a $65.00 price objective on shares of Vericel in a research note on Wednesday, January 15th. Truist Financial reiterated a “buy” rating and issued a $61.00 target price (down previously from $67.00) on shares of Vericel in a research note on Monday, March 3rd. Canaccord Genuity Group raised their price target on shares of Vericel from $64.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Vericel from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.29.

Insider Transactions at Vericel

In other Vericel news, insider Jonathan Siegal sold 3,908 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $61.99, for a total transaction of $242,256.92. Following the sale, the insider now directly owns 1,206 shares of the company’s stock, valued at $74,759.94. This represents a 76.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dominick Colangelo sold 26,592 shares of Vericel stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $45.78, for a total transaction of $1,217,381.76. Following the completion of the transaction, the chief executive officer now owns 259,997 shares of the company’s stock, valued at $11,902,662.66. The trade was a 9.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,092 shares of company stock worth $1,683,582 in the last quarter. Insiders own 5.20% of the company’s stock.

Vericel Stock Performance

NASDAQ VCEL opened at $46.26 on Monday. The company has a market capitalization of $2.31 billion, a PE ratio of 771.13 and a beta of 1.78. Vericel Co. has a 52-week low of $39.12 and a 52-week high of $63.00. The company has a 50-day simple moving average of $54.40 and a 200 day simple moving average of $51.72.

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.