Hedge fund adds 1.79 million shares of Vericel in Q1, increasing its position to 3.32% of assets under management.
Soleus Capital Management disclosed a $63.40 million purchase of Vericel shares in the first quarter, acquiring 1,785,079 shares based on average pricing. The stake’s value rose by $54.49 million by quarter-end, reflecting both new buys and price appreciation.
Vericel now accounts for 3.32% of Soleus Capital’s 13F assets, making it a top holding behind Krystal Biotech and Celcuity. The company’s shares trade at $33.33, down 20% over the past year, underperforming the S&P 500’s 28% gain.
The filing highlights Soleus Capital’s focus on biotech, with its top five holdings concentrated in the sector. Vericel specializes in autologous cell therapies, including MACI for cartilage repair and Epicel for burn treatment.