Smith Asset Management Group LP trimmed its position in shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) by 8.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,601 shares of the biopharmaceutical company’s stock after selling 415 shares during the period. Smith Asset Management Group LP owned about 0.06% of BioSpecifics Technologies worth $275,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Shaker Investments LLC OH bought a new position in BioSpecifics Technologies during the second quarter valued at approximately $205,000. JPMorgan Chase & Co. raised its position in BioSpecifics Technologies by 11.7% in the second quarter. JPMorgan Chase & Co. now owns 11,683 shares of the biopharmaceutical company’s stock worth $701,000 after acquiring an additional 1,220 shares during the period. Wells Fargo & Company MN raised its position in BioSpecifics Technologies by 29.3% in the second quarter. Wells Fargo & Company MN now owns 91,817 shares of the biopharmaceutical company’s stock worth $5,483,000 after acquiring an additional 20,830 shares during the period. Swiss National Bank raised its position in BioSpecifics Technologies by 5.2% in the second quarter. Swiss National Bank now owns 10,200 shares of the biopharmaceutical company’s stock worth $609,000 after acquiring an additional 500 shares during the period. Finally, Sigma Planning Corp bought a new position in BioSpecifics Technologies in the second quarter worth approximately $263,000. 59.16% of the stock is owned by hedge funds and other institutional investors.
BSTC traded down $0.53 during trading on Tuesday, hitting $57.60. The company’s stock had a trading volume of 9,478 shares, compared to its average volume of 46,087. BioSpecifics Technologies Corp. has a one year low of $52.03 and a one year high of $73.31. The firm has a market cap of $423.33 million, a PE ratio of 21.12 and a beta of 1.17. The business’s 50 day simple moving average is $56.75 and its 200-day simple moving average is $61.43.
Several research analysts have weighed in on BSTC shares. Zacks Investment Research downgraded shares of BioSpecifics Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. HC Wainwright reiterated a “buy” rating and issued a $90.00 price target (up from $85.00) on shares of BioSpecifics Technologies in a research report on Monday, August 12th. BidaskClub upgraded shares of BioSpecifics Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Finally, ValuEngine downgraded shares of BioSpecifics Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.
In other news, Director Toby Wegman sold 1,100 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $55.23, for a total value of $60,753.00. Following the completion of the sale, the director now directly owns 1,890 shares of the company’s stock, valued at $104,384.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 16.39% of the company’s stock.
About BioSpecifics Technologies
BioSpecifics Technologies Corp., a biopharmaceutical company, engages in the development of an injectable collagenase clostridium histolyticum for various indications in the United States and internationally. The company offers injectable collagenase for the treatment of Dupuytren's contracture and Peyronie's disease under the XIAFLEX or Xiapex brands.
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