Perkins Capital Management Inc. grew its stake in Vericel Corporation (NASDAQ:VCEL) by 118.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 562,600 shares of the biotechnology company’s stock after purchasing an additional 305,000 shares during the quarter. Vericel Corporation comprises about 3.5% of Perkins Capital Management Inc.’s holdings, making the stock its 5th biggest holding. Perkins Capital Management Inc. owned about 1.71% of Vericel Corporation worth $3,376,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in Vericel Corporation by 13.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,202 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 4,523 shares in the last quarter. First Washington CORP bought a new position in Vericel Corporation in the 2nd quarter worth $2,230,000. Vanguard Group Inc. raised its holdings in Vericel Corporation by 7.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,212,799 shares of the biotechnology company’s stock worth $4,002,000 after purchasing an additional 88,645 shares in the last quarter. Finally, Archon Capital Management LLC bought a new position in Vericel Corporation in the 2nd quarter worth $4,412,000. Institutional investors and hedge funds own 34.01% of the company’s stock.
Vericel Corporation (NASDAQ:VCEL) last released its quarterly earnings data on Wednesday, August 9th. The biotechnology company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.16. The firm had revenue of $16.95 million during the quarter.
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Several research analysts recently issued reports on VCEL shares. BTIG Research set a $6.00 price target on shares of Vericel Corporation and gave the stock a “buy” rating in a research note on Monday, October 2nd. Piper Jaffray Companies reiterated a “buy” rating and issued a $7.00 price target on shares of Vericel Corporation in a research note on Thursday, August 10th.
Vericel Corporation Company Profile
Vericel Corporation, formerly Aastrom Biosciences, Inc, is a commercial-stage biopharmaceutical company dedicated to the identification, development and commercialization of therapies that enable the body to repair and regenerate damaged tissues and organs to restore normal structure and function. The Company operates through the research, product development, manufacture and distribution of patient-specific, expanded cellular therapies for use in the treatment of specific diseases segment.
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