Brown Capital Discloses $31 Million Sale of Vericel Stock as Small-Cap Biotech Reports Earnings

On Tuesday, Baltimore-based Brown Capital Management reported selling 861,020 shares of Vericel Corporation for an estimated $30.9 million based on the average share price in the third quarter.According to a filing with the Securities and Exchange Commission released Tuesday, Brown Capital Management reduced its position in Vericel Corporation (NASDAQ:VCEL) by 861,020 shares in the third quarter. The estimated transaction value, based on the average share price for the quarter, was approximately $30.9 million. The post-transaction holding stands at 1,950,989 shares worth $61.4 million.Brown Capital Management's sale reduced Vericel's stake to 2.5% of AUM in the third quarter, down from 3.5% in the previous quarter.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool