Renaissance Technologies LLC Increases Position in Vericel Co. (NASDAQ:VCEL)

Renaissance Technologies LLC grew its stake in Vericel Co. (NASDAQ:VCEL - Free Report) by 11.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,500 shares of the biotechnology company's stock after acquiring an additional 9,200 shares during the quarter. Renaissance Technologies LLC owned about 0.18% of Vericel worth $4,914,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Arcadia Investment Management Corp MI acquired a new stake in Vericel during the fourth quarter worth about $48,000. Smartleaf Asset Management LLC increased its holdings in shares of Vericel by 511.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the biotechnology company's stock worth $70,000 after buying an additional 1,058 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Vericel by 8.4% during the 4th quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company's stock worth $129,000 after buying an additional 183 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Vericel by 826.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,511 shares of the biotechnology company's stock valued at $138,000 after buying an additional 2,240 shares during the period. Finally, KBC Group NV lifted its holdings in Vericel by 82.5% in the fourth quarter. KBC Group NV now owns 2,707 shares of the biotechnology company's stock valued at $149,000 after acquiring an additional 1,224 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Truist Financial reduced their target price on Vericel from $61.00 to $51.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. StockNews.com upgraded shares of Vericel from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. HC Wainwright reaffirmed a "buy" rating and set a $60.00 target price on shares of Vericel in a research note on Friday, February 28th. Stephens reissued an "overweight" rating and issued a $65.00 price target on shares of Vericel in a research note on Wednesday, January 15th. Finally, Canaccord Genuity Group upped their price objective on shares of Vericel from $64.00 to $67.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $60.86.

Insider Activity at Vericel

In other news, CEO Dominick Colangelo sold 26,592 shares of Vericel stock in a transaction dated 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 sale, the chief executive officer now owns 259,997 shares in the company, valued at approximately $11,902,662.66. The trade was a 9.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Siegal sold 3,908 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $61.99, for a total value of $242,256.92. Following the completion of the sale, the insider now directly owns 1,206 shares of the company's stock, valued at approximately $74,759.94. This trade represents a 76.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,942 shares of company stock valued at $2,724,548 over the last ninety days. Insiders own 5.20% of the company's stock.

Vericel Price Performance

Shares of NASDAQ:VCEL traded up $0.61 during trading on Thursday, hitting $40.66. 273,168 shares of the company were exchanged, compared to its average volume of 450,714. The firm's 50 day moving average price is $46.43 and its 200-day moving average price is $51.29. Vericel Co. has a 12-month low of $37.76 and a 12-month high of $63.00. The stock has a market capitalization of $2.04 billion, a P/E ratio of 677.80 and a beta of 1.61.

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.