Summit Creek Advisors LLC Acquires 138,124 Shares of Vericel Corporation $VCEL

Summit Creek Advisors LLC increased its holdings in shares of Vericel Corporation (NASDAQ:VCEL) by 35.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 531,603 shares of the biotechnology company’s stock after purchasing an additional 138,124 shares during the period. Vericel makes up 2.4% of Summit Creek Advisors LLC’s portfolio, making the stock its 13th biggest position. Summit Creek Advisors LLC owned approximately 1.05% of Vericel worth $16,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Conestoga Capital Advisors LLC raised its holdings in Vericel by 19.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,463,590 shares of the biotechnology company’s stock worth $104,826,000 after buying an additional 401,990 shares during the period. Geneva Capital Management LLC increased its position in shares of 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 acquiring an additional 419,183 shares in the last quarter. Congress Asset Management Co. raised its holdings in shares of Vericel by 18.0% during the second quarter. Congress Asset Management Co. now owns 1,742,324 shares of the biotechnology company’s stock worth $74,136,000 after acquiring an additional 265,606 shares during the period. Geode Capital Management LLC lifted its position in Vericel by 3.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,240,389 shares of the biotechnology company’s stock valued at $52,786,000 after acquiring an additional 38,799 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its stake in Vericel by 62.5% in the 2nd quarter. Champlain Investment Partners LLC now owns 997,291 shares of the biotechnology company’s stock worth $42,435,000 after purchasing an additional 383,498 shares during the period.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen raised Vericel from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. BTIG Research cut Vericel from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Vericel in a research report on Monday, December 29th. Zacks Research downgraded shares of Vericel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, Truist Financial cut their price objective on shares of Vericel from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Vericel has a consensus rating of “Moderate Buy” and an average price target of $57.50.

Vericel Stock Performance

Shares of NASDAQ VCEL opened at $38.56 on Monday. The stock has a 50 day moving average price of $38.11 and a 200 day moving average price of $36.61. The stock has a market capitalization of $1.95 billion, a PE ratio of 160.67 and a beta of 1.17. Vericel Corporation has a 52 week low of $29.24 and a 52 week high of $63.00.

Vericel (NASDAQ:VCEL) last announced its quarterly earnings data on Thursday, November 6th. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.12. The company had revenue of $67.50 million for the quarter, compared to analysts’ expectations of $64.57 million. Vericel had a return on equity of 4.30% and a net margin of 5.06%.The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.02) EPS. As a group, research analysts forecast that Vericel Corporation will post 0.14 EPS for the current year.

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.