Redmile Group LLC Takes $1.75 Million Position in Vericel Corp (VCEL)
Redmile Group LLC acquired a new position in shares of Vericel Corp (NASDAQ:VCEL) during the second quarter, HoldingsChannel reports. The institutional investor acquired 180,873 shares of the biotechnology company’s stock, valued at approximately $1,754,000.
Several other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. purchased a new position in Vericel in the first quarter valued at $845,000. Northern Trust Corp increased its holdings in Vericel by 18.8% in the first quarter. Northern Trust Corp now owns 75,528 shares of the biotechnology company’s stock valued at $751,000 after buying an additional 11,960 shares during the last quarter. First Washington CORP increased its holdings in Vericel by 18.7% in the second quarter. First Washington CORP now owns 656,550 shares of the biotechnology company’s stock valued at $6,369,000 after buying an additional 103,380 shares during the last quarter. Trexquant Investment LP increased its holdings in Vericel by 51.1% in the second quarter. Trexquant Investment LP now owns 55,146 shares of the biotechnology company’s stock valued at $535,000 after buying an additional 18,660 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Vericel in the first quarter valued at $802,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ VCEL opened at $12.90 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.72 and a quick ratio of 7.48. Vericel Corp has a 1 year low of $3.30 and a 1 year high of $14.75. The firm has a market capitalization of $551.17 million, a price-to-earnings ratio of -25.80 and a beta of 2.98.
In other Vericel news, Director Paul K. Wotton sold 30,000 shares of the company’s stock in a transaction on Monday, June 18th. The shares were sold at an average price of $12.06, for a total value of $361,800.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $60,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven C. Gilman sold 9,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $12.03, for a total transaction of $108,270.00. Following the completion of the transaction, the director now owns 9,000 shares of the company’s stock, valued at approximately $108,270. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company’s stock.
Several research firms recently commented on VCEL. Needham & Company LLC dropped their target price on Vericel from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, August 8th. BTIG Research reissued a “buy” rating and issued a $17.00 target price on shares of Vericel in a report on Tuesday, August 7th. LADENBURG THALM/SH SH raised Vericel from a “neutral” rating to a “buy” rating in a report on Monday, July 16th. Finally, BidaskClub lowered Vericel from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Vericel has a consensus rating of “Buy” and a consensus price target of $15.00.
Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, markets, and sells patient-specific expanded cellular therapies to repair and regenerate damaged tissues and organs. It markets autologous cell therapy products, including MACI, an autologous cellularized scaffold product for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; and Carticel, an autologous chondrocyte implant for the repair of symptomatic cartilage defects of the femoral condyle caused by acute or repetitive trauma in patients that have inadequate response to a prior arthroscopic or other surgical repair procedure.
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