BioSpecifics Technologies Corp. (BSTC) Shares Sold by Stonepine Capital Management LLC

Stonepine Capital Management LLC lowered its position in BioSpecifics Technologies Corp. (NASDAQ:BSTC) by 23.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,395 shares of the biopharmaceutical company’s stock after selling 67,864 shares during the quarter. BioSpecifics Technologies makes up approximately 11.6% of Stonepine Capital Management LLC’s portfolio, making the stock its 3rd biggest position. Stonepine Capital Management LLC owned about 2.99% of BioSpecifics Technologies worth $13,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Great West Life Assurance Co. Can bought a new stake in BioSpecifics Technologies in the fourth quarter valued at approximately $54,000. Meeder Asset Management Inc. lifted its position in BioSpecifics Technologies by 82.0% in the third quarter. Meeder Asset Management Inc. now owns 2,344 shares of the biopharmaceutical company’s stock valued at $137,000 after purchasing an additional 1,056 shares during the last quarter. Bank of America Corp DE lifted its position in BioSpecifics Technologies by 466.7% in the second quarter. Bank of America Corp DE now owns 4,086 shares of the biopharmaceutical company’s stock valued at $183,000 after purchasing an additional 3,365 shares during the last quarter. Janus Henderson Group PLC bought a new stake in BioSpecifics Technologies in the third quarter valued at approximately $225,000. Finally, MetLife Investment Advisors LLC bought a new stake in BioSpecifics Technologies in the third quarter valued at approximately $273,000. 58.56% of the stock is owned by institutional investors and hedge funds.

Shares of BioSpecifics Technologies stock traded up $0.76 during midday trading on Monday, reaching $68.44. 50 shares of the company’s stock traded hands, compared to its average volume of 45,287. The company has a market cap of $492.58 million, a PE ratio of 39.82 and a beta of 1.27. BioSpecifics Technologies Corp. has a 12 month low of $40.00 and a 12 month high of $73.31.

Several analysts have weighed in on BSTC shares. HC Wainwright reiterated a “buy” rating and issued a $81.00 price objective on shares of BioSpecifics Technologies in a research report on Friday, January 25th. Zacks Investment Research upgraded BioSpecifics Technologies from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Monday, January 28th. Finally, BidaskClub downgraded BioSpecifics Technologies from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 13th.

TRADEMARK VIOLATION WARNING: This piece of content was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark law. The correct version of this piece of content can be read at https://www.chaffeybreeze.com/2019/03/11/biospecifics-technologies-corp-bstc-shares-sold-by-stonepine-capital-management-llc.html.

BioSpecifics Technologies Company Profile

BioSpecifics Technologies Corp., a biopharmaceutical company, engages in the development of an injectable collagenase clostridium histolyticum for multiple 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 brand names.

Featured Article: What are the FAANG Stocks?

Institutional Ownership by Quarter for BioSpecifics Technologies (NASDAQ:BSTC)

Receive News & Ratings for BioSpecifics Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioSpecifics Technologies and related companies with MarketBeat.com's FREE daily email newsletter.