CenterBook Partners LP Raises Stake in Vericel Corporation $VCEL

CenterBook Partners LP increased its position in Vericel Corporation (NASDAQ:VCEL) by 171.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 184,986 shares of the biotechnology company’s stock after acquiring an additional 116,756 shares during the period. CenterBook Partners LP’s holdings in Vericel were worth $5,822,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of VCEL. Abich Financial Wealth Management LLC purchased a new stake in Vericel in the 3rd quarter worth approximately $31,000. CWM LLC grew its position in shares of Vericel by 101.3% in the second quarter. CWM LLC now owns 1,379 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 694 shares during the period. AlphaQuest LLC acquired a new position in Vericel in the second quarter valued at $60,000. Osaic Holdings Inc. lifted its position in Vericel by 13.7% during the second quarter. Osaic Holdings Inc. now owns 2,937 shares of the biotechnology company’s stock worth $125,000 after buying an additional 353 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Vericel by 178.4% during the second quarter. Smartleaf Asset Management LLC now owns 3,241 shares of the biotechnology company’s stock worth $135,000 after buying an additional 2,077 shares during the period.

Wall Street Analyst Weigh In

Several research firms have commented on VCEL. Weiss Ratings restated a “hold (c-)” rating on shares of Vericel in a 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. Truist Financial dropped their price target on shares of Vericel from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Finally, Wall Street Zen upgraded shares of Vericel from a “hold” rating to a “buy” rating in a report on Sunday, January 25th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

Vericel Trading Up 2.4%

Shares of VCEL stock opened at $36.82 on Wednesday. The company has a market cap of $1.86 billion, a PE ratio of 153.42 and a beta of 1.24. The company’s fifty day simple moving average is $36.94 and its 200-day simple moving average is $36.07. Vericel Corporation has a 52 week low of $29.24 and a 52 week high of $58.77.

About Vericel

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.