Trexquant Investment LP Takes $4.88 Million Position in Vericel Co. (NASDAQ:VCEL)

Trexquant Investment LP acquired a new stake in shares of Vericel Co. (NASDAQ:VCEL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 88,944 shares of the biotechnology company's stock, valued at approximately $4,884,000. Trexquant Investment LP owned 0.18% of Vericel at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of Vericel by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 1,166,115 shares of the biotechnology company's stock valued at $64,046,000 after buying an additional 12,062 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in Vericel by 8.4% during the fourth quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company's stock valued at $129,000 after purchasing an additional 183 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Vericel by 119.3% in the fourth quarter. Wellington Management Group LLP now owns 1,288,921 shares of the biotechnology company's stock worth $70,775,000 after purchasing an additional 701,064 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Vericel by 26.5% in the fourth quarter. JPMorgan Chase & Co. now owns 571,194 shares of the biotechnology company's stock worth $31,364,000 after purchasing an additional 119,574 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its position in shares of Vericel by 19.8% during the 4th quarter. Zions Bancorporation N.A. now owns 38,186 shares of the biotechnology company's stock valued at $2,097,000 after purchasing an additional 6,307 shares during the period.

Remove Ads

Insider Activity at Vericel

In related news, insider Jonathan Siegal sold 1,092 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $61.99, for a total transaction of $67,693.08. Following the completion of the sale, the insider now owns 1,206 shares of the company's stock, valued at $74,759.94. This represents a 47.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dominick Colangelo sold 26,592 shares of Vericel stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $45.78, for a total transaction of $1,217,381.76. Following the completion of the transaction, the chief executive officer now directly owns 259,997 shares in the company, valued at $11,902,662.66. This represents a 9.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,092 shares of company stock worth $1,683,582 over the last three months. 5.20% of the stock is owned by corporate insiders.

Vericel Stock Performance

NASDAQ VCEL traded down $3.36 on Thursday, reaching $40.89. 191,529 shares of the stock traded hands, compared to its average volume of 386,252. Vericel Co. has a 12 month low of $37.76 and a 12 month high of $63.00. The company has a fifty day moving average price of $49.92 and a 200-day moving average price of $51.46. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 684.63 and a beta of 1.61.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Canaccord Genuity Group raised their price target on Vericel from $64.00 to $67.00 and gave the company a "buy" rating in a report on Monday, February 3rd. StockNews.com upgraded Vericel from a "sell" rating to a "hold" rating in a research note on Saturday, March 8th. Truist Financial reissued a "buy" rating and set a $61.00 price objective (down previously from $67.00) on shares of Vericel in a report on Monday, March 3rd. Stephens reiterated an "overweight" rating and issued a $65.00 target price on shares of Vericel in a report on Wednesday, January 15th. Finally, HC Wainwright reissued a "buy" rating and set a $60.00 price target on shares of Vericel in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.29.

About Vericel

Vericel Corporation, a commercial-stage biopharmaceutical company, engages in the research, development, manufacture, and distribution of cellular therapies for sports medicine and severe burn care markets in North America. The company markets autologous cell therapy products comprising MACI, an autologous cultured chondrocytes on porcine collagen membrane for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns; and NexoBrid, a biological orphan product for eschar removal in adults with deep partial-thickness and/or full-thickness thermal burns.