Berkeley Lights (NASDAQ:BLI) Sees Large Volume Increase

Berkeley Lights, Inc. (NASDAQ:BLI) saw an uptick in trading volume on Wednesday . 95,376 shares traded hands during mid-day trading, a decline of 90% from the previous session’s volume of 957,433 shares.The stock last traded at $28.83 and had previously closed at $32.76.

Several equities analysts have recently weighed in on BLI shares. Morgan Stanley reduced their target price on shares of Berkeley Lights from $73.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 12th. KeyCorp downgraded shares of Berkeley Lights from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, June 29th. Zacks Investment Research raised shares of Berkeley Lights from a “sell” rating to a “hold” rating in a research note on Monday, August 16th. Finally, BTIG Research dropped their price target on shares of Berkeley Lights from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, August 12th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $85.33.

The company has a quick ratio of 8.84, a current ratio of 9.30 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -33.52 and a beta of 0.71. The business’s fifty day moving average is $41.12 and its two-hundred day moving average is $45.38.

Berkeley Lights (NASDAQ:BLI) last announced its quarterly earnings data on Tuesday, August 10th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). The business had revenue of $19.25 million during the quarter, compared to analyst estimates of $19.75 million. Berkeley Lights had a negative net margin of 69.79% and a negative return on equity of 22.41%. As a group, sell-side analysts expect that Berkeley Lights, Inc. will post -0.94 earnings per share for the current year.

In other Berkeley Lights news, insider Keith Breinlinger sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 31st. The shares were sold at an average price of $35.17, for a total transaction of $140,680.00. Following the completion of the transaction, the insider now owns 25,726 shares in the company, valued at approximately $904,783.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Igor Y. Khandros sold 37,500 shares of the company’s stock in a transaction on Thursday, September 9th. The stock was sold at an average price of $36.62, for a total transaction of $1,373,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 406,629 shares of company stock valued at $15,637,552 in the last quarter. 20.30% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of BLI. Panagora Asset Management Inc. grew its stake in Berkeley Lights by 13.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 2,448 shares of the company’s stock valued at $110,000 after acquiring an additional 291 shares during the last quarter. Advisor Group Holdings Inc. grew its stake in Berkeley Lights by 34.5% in the 2nd quarter. Advisor Group Holdings Inc. now owns 1,736 shares of the company’s stock valued at $78,000 after acquiring an additional 445 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in Berkeley Lights in the 2nd quarter valued at about $25,000. Vestor Capital LLC grew its stake in Berkeley Lights by 3.9% in the 1st quarter. Vestor Capital LLC now owns 15,461 shares of the company’s stock valued at $777,000 after acquiring an additional 575 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in Berkeley Lights by 32.2% in the 1st quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock valued at $149,000 after acquiring an additional 726 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

About Berkeley Lights (NASDAQ:BLI)

Berkeley Lights, Inc, a digital cell biology company, focuses on enabling and accelerating the rapid development and commercialization of biotherapeutics and other cell-based products. The company offers an integrated platform, which comprise of proprietary consumables, including OptoSelect chips and reagent kits, automation systems, and application and workflow software.

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