Trexquant Investment LP Reduces Stock Position in Vericel Corporation $VCEL

Key Points

• Trexquant Investment LP has reduced its stake in Vericel Corporation by 64.8%, now holding 31,329 shares worth approximately $1.4 million following the sale of 57,615 shares.
• Vericel reported better-than-expected earnings for the last quarter, with an EPS of ($0.01), surpassing the consensus estimate of ($0.04) while achieving a revenue growth of 20.1% year-over-year.
• Analysts have mixed ratings for Vericel, with Wall Street Zen downgrading it to a "sell," while others maintain a "buy" with an average price target of $60.40.

Trexquant Investment LP decreased its position in shares of Vericel Corporation (NASDAQ:VCEL - Free Report) by 64.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,329 shares of the biotechnology company's stock after selling 57,615 shares during the period. Trexquant Investment LP owned approximately 0.06% of Vericel worth $1,398,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new stake in Vericel during the fourth quarter valued at about $57,000. GAMMA Investing LLC raised its position in Vericel by 34.8% during the first quarter. GAMMA Investing LLC now owns 2,895 shares of the biotechnology company's stock valued at $129,000 after purchasing an additional 748 shares in the last quarter. Gagnon Securities LLC purchased a new stake in Vericel during the first quarter valued at about $137,000. US Bancorp DE raised its position in Vericel by 29.9% during the first quarter. US Bancorp DE now owns 3,071 shares of the biotechnology company's stock valued at $137,000 after purchasing an additional 706 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in Vericel during the fourth quarter valued at about $215,000.

Vericel Trading Down 5.4%

Shares of NASDAQ:VCEL traded down $1.75 on Wednesday, reaching $30.80. 498,066 shares of the company traded hands, compared to its average volume of 511,258. The business's 50-day simple moving average is $37.26 and its 200 day simple moving average is $41.29. Vericel Corporation has a 52 week low of $30.26 and a 52 week high of $63.00. The stock has a market capitalization of $1.55 billion, a P/E ratio of 256.94 and a beta of 1.33.

Vericel (NASDAQ:VCEL - Get Free Report) last posted its earnings results on Thursday, July 31st. The biotechnology company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.03. The company had revenue of $63.24 million during the quarter, compared to analyst estimates of $64.61 million. Vericel had a net margin of 2.85% and a return on equity of 2.47%. Vericel's revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) earnings per share. Sell-side analysts expect that Vericel Corporation will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on VCEL shares. Canaccord Genuity Group lowered their price target on Vericel from $61.00 to $58.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Stephens reaffirmed an "overweight" rating and set a $67.00 price objective on shares of Vericel in a research note on Monday, June 16th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $60.40.

Vericel Company Profile

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.