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

Renaissance Technologies LLC boosted its holdings in Vericel Co. (NASDAQ:VCEL - Free Report) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of Vericel by 119.3% during the 4th 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. Raymond James Financial Inc. acquired a new position in Vericel during the fourth quarter worth about $28,126,000. William Blair Investment Management LLC grew its position in Vericel by 66.3% during the fourth quarter. William Blair Investment Management LLC now owns 1,258,416 shares of the biotechnology company's stock worth $69,100,000 after buying an additional 501,736 shares during the period. Federated Hermes Inc. increased its holdings in Vericel by 25.4% in the fourth quarter. Federated Hermes Inc. now owns 1,122,373 shares of the biotechnology company's stock valued at $61,630,000 after buying an additional 227,675 shares in the last quarter. Finally, Congress Asset Management Co. lifted its position in shares of Vericel by 12.6% during the 4th quarter. Congress Asset Management Co. now owns 1,454,139 shares of the biotechnology company's stock valued at $79,847,000 after acquiring an additional 162,419 shares during the period.

Vericel Stock Performance

Vericel stock traded down $1.51 during midday trading on Friday, reaching $39.59. 60,167 shares of the company were exchanged, compared to its average volume of 392,653. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 659.86 and a beta of 1.61. The firm's 50-day simple moving average is $46.11 and its 200-day simple moving average is $51.29. Vericel Co. has a 1 year low of $37.76 and a 1 year high of $63.00.

Insider Transactions at Vericel

In other news, insider Jonathan Siegal sold 1,092 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $61.99, for a total transaction of $67,693.08. Following the sale, the insider now owns 1,206 shares in the company, valued at $74,759.94. This trade represents a 47.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dominick Colangelo sold 26,592 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $45.78, for a total value of $1,217,381.76. Following the completion of the transaction, the chief executive officer now owns 259,997 shares of the company's stock, valued at $11,902,662.66. The trade was a 9.28 % 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 worth $2,724,548 over the last ninety days. 5.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on VCEL. StockNews.com raised Vericel from a "sell" rating to a "hold" rating in a research note on Saturday, March 8th. Canaccord Genuity Group raised their price target on Vericel from $64.00 to $67.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Truist Financial cut their price target on Vericel from $61.00 to $51.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Stephens reissued an "overweight" rating and issued a $65.00 price objective on shares of Vericel in a research note on Wednesday, January 15th. Finally, HC Wainwright restated a "buy" rating and set a $60.00 target price on shares of Vericel in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Vericel currently has an average rating of "Moderate Buy" and an average target price of $60.86.

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.