Berkeley Lights Sees Unusually High Options Volume (NASDAQ:BLI)

Berkeley Lights, Inc. (NASDAQ:BLI) was the target of unusually large options trading activity on Wednesday. Stock traders acquired 3,970 call options on the stock. This represents an increase of 432% compared to the typical daily volume of 746 call options.

In other news, insider Keith Breinlinger sold 4,000 shares of the firm’s stock in a transaction on Tuesday, September 14th. The shares were sold at an average price of $33.28, for a total transaction of $133,120.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Eric Hobbs sold 15,500 shares of the firm’s stock in a transaction on Tuesday, July 20th. The shares were sold at an average price of $47.07, for a total transaction of $729,585.00. The disclosure for this sale can be found here. Insiders sold 367,212 shares of company stock worth $13,683,787 over the last quarter. Insiders own 20.30% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund boosted its holdings in shares of Berkeley Lights by 53.9% in the 2nd quarter. New York State Common Retirement Fund now owns 57,165 shares of the company’s stock valued at $2,562,000 after acquiring an additional 20,027 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Berkeley Lights by 41.2% in the 1st quarter. Geode Capital Management LLC now owns 217,834 shares of the company’s stock valued at $10,941,000 after acquiring an additional 63,596 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Berkeley Lights by 95.7% in the 1st quarter. California State Teachers Retirement System now owns 43,917 shares of the company’s stock valued at $2,206,000 after acquiring an additional 21,474 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Berkeley Lights by 163.2% in the 1st quarter. Allianz Asset Management GmbH now owns 291,590 shares of the company’s stock valued at $14,646,000 after acquiring an additional 180,784 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Berkeley Lights by 123.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 426,039 shares of the company’s stock valued at $21,400,000 after acquiring an additional 235,322 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

NASDAQ:BLI opened at $22.43 on Thursday. Berkeley Lights has a one year low of $17.82 and a one year high of $113.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.84 and a current ratio of 9.30. The firm has a market cap of $1.51 billion, a P/E ratio of -26.08 and a beta of 1.76. The firm has a 50-day simple moving average of $30.72 and a 200-day simple moving average of $40.86.

Berkeley Lights (NASDAQ:BLI) last issued its quarterly earnings data on Tuesday, August 10th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). Berkeley Lights had a negative return on equity of 22.41% and a negative net margin of 69.79%. The firm had revenue of $19.25 million during the quarter, compared to analysts’ expectations of $19.75 million. On average, research analysts predict that Berkeley Lights will post -0.94 EPS for the current fiscal year.

BLI has been the subject of a number of recent research reports. Morgan Stanley dropped their price objective on shares of Berkeley Lights from $73.00 to $66.00 and set an “equal weight” rating for the company in a research note on Thursday, August 12th. Berenberg Bank initiated coverage on shares of Berkeley Lights in a research note on Wednesday. They issued a “buy” rating and a $42.00 price objective for the company. KeyCorp cut shares of Berkeley Lights from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, June 29th. BTIG Research dropped their price objective on shares of Berkeley Lights from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, August 12th. Finally, Zacks Investment Research raised shares of Berkeley Lights from a “sell” rating to a “hold” rating in a research note on Monday, August 16th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $79.14.

About Berkeley Lights

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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