Berkeley Lights, Inc. (NASDAQ:BLI) Insider Sells $37,429.07 in Stock

Berkeley Lights, Inc. (NASDAQ:BLI – Get Rating) insider Eric Hobbs sold 7,531 shares of Berkeley Lights stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $4.97, for a total transaction of $37,429.07. Following the transaction, the insider now owns 182,725 shares of the company’s stock, valued at approximately $908,143.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Eric Hobbs also recently made the following trade(s):

• On Wednesday, May 11th, Eric Hobbs sold 98,011 shares of Berkeley Lights stock. The stock was sold at an average price of $4.18, for a total transaction of $409,685.98.

Shares of BLI stock opened at $5.21 on Friday. Berkeley Lights, Inc. has a one year low of $3.65 and a one year high of $51.28. The company has a quick ratio of 6.60, a current ratio of 7.52 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average price of $6.02 and a 200 day moving average price of $12.03.

Berkeley Lights (NASDAQ:BLI – Get Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.01). Berkeley Lights had a negative return on equity of 36.42% and a negative net margin of 89.36%. The company had revenue of $20.20 million for the quarter, compared to analyst estimates of $20.22 million. During the same period last year, the company posted ($0.24) EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts predict that Berkeley Lights, Inc. will post -1.14 earnings per share for the current year.

Hedge funds have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Berkeley Lights in the 4th quarter valued at $30,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Berkeley Lights in the 4th quarter valued at $38,000. Spire Wealth Management purchased a new position in shares of Berkeley Lights in the 4th quarter valued at $48,000. Point72 Hong Kong Ltd purchased a new position in shares of Berkeley Lights in the 4th quarter valued at $76,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of Berkeley Lights in the 3rd quarter valued at $118,000. 71.49% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on BLI. Morgan Stanley cut their target price on shares of Berkeley Lights from $20.00 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, February 25th. Zacks Investment Research lowered shares of Berkeley Lights from a “hold” rating to a “sell” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Berkeley Lights presently has a consensus rating of “Hold” and a consensus price target of $23.25.

Berkeley Lights Company Profile (Get Rating)

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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