Summit Global Investments Sells 8,663 Shares of Vericel Co. (NASDAQ:VCEL)

Summit Global Investments decreased its position in shares of Vericel Co. (NASDAQ:VCEL) by 41.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & 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 reporting period.

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

Insider Activity

In other Vericel news, CEO Dominick Colangelo sold 26,592 shares of Vericel stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $45.78, for a total value of $1,217,381.76. Following the completion of the sale, the chief executive officer now directly owns 259,997 shares in the company, valued at approximately $11,902,662.66. The trade was a 9.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert L. Md Zerbe sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $62.50, for a total value of $156,250.00. Following the transaction, the director now owns 26,595 shares in the company, valued at $1,662,187.50. The trade was a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,092 shares of company stock valued at $1,683,582 in the last ninety days. 5.20% of the stock is owned by company insiders.

Vericel Stock Down 1.9 %

VCEL stock opened at $46.26 on Monday. The company’s fifty day simple moving average is $54.40 and its 200 day simple moving average is $51.72. Vericel Co. has a 12-month low of $39.12 and a 12-month high of $63.00. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 771.13 and a beta of 1.78.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VCEL. HC Wainwright reissued a “buy” rating and set a $60.00 price target on shares of Vericel in a research note on Friday, February 28th. BTIG Research boosted their target price on shares of Vericel from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Truist Financial reaffirmed a “buy” rating and set a $61.00 price target (down previously from $67.00) on shares of Vericel in a research note on Monday, March 3rd. Stephens reissued an “overweight” rating and issued a $65.00 price objective on shares of Vericel in a research note on Wednesday, January 15th. Finally, StockNews.com raised Vericel from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Vericel has an average rating of “Moderate Buy” and a consensus target price of $62.29.

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.