Berkeley Lights, Inc. (NASDAQ:BLI) Stake Lifted by Rhumbline Advisers

Rhumbline Advisers grew its holdings in shares of Berkeley Lights, Inc. (NASDAQ:BLI) by 114.8% in the second quarter, HoldingsChannel reports. The fund owned 45,247 shares of the company’s stock after buying an additional 24,185 shares during the period. Rhumbline Advisers’ holdings in Berkeley Lights were worth $2,028,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in BLI. Envestnet Asset Management Inc. acquired a new position in Berkeley Lights during the 1st quarter worth $435,000. Los Angeles Capital Management LLC acquired a new position in Berkeley Lights during the 1st quarter worth $391,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Berkeley Lights by 43.1% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,719 shares of the company’s stock worth $187,000 after acquiring an additional 1,120 shares during the period. Alliancebernstein L.P. boosted its position in Berkeley Lights by 231.4% during the 1st quarter. Alliancebernstein L.P. now owns 1,104,259 shares of the company’s stock worth $55,467,000 after acquiring an additional 771,040 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Berkeley Lights in the first quarter valued at $202,000. Institutional investors own 61.72% of the company’s stock.

BLI opened at $23.15 on Thursday. The firm’s 50-day simple moving average is $38.62 and its 200-day simple moving average is $44.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.84 and a current ratio of 9.30. Berkeley Lights, Inc. has a twelve month low of $19.21 and a twelve month high of $113.53. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -26.92 and a beta of 0.71.

Berkeley Lights (NASDAQ:BLI) last released its earnings results on Tuesday, August 10th. The company reported ($0.27) 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 business had revenue of $19.25 million for the quarter, compared to analyst estimates of $19.75 million. As a group, sell-side analysts anticipate that Berkeley Lights, Inc. will post -0.94 EPS for the current fiscal year.

In related news, CEO Eric Hobbs sold 15,500 shares of the company’s stock in a transaction on Tuesday, July 20th. The shares were sold at an average price of $47.07, for a total value of $729,585.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Keith Breinlinger sold 8,250 shares of the company’s stock in a transaction on Tuesday, July 6th. The stock was sold at an average price of $45.92, for a total transaction of $378,840.00. The disclosure for this sale can be found here. Insiders sold a total of 385,879 shares of company stock valued at $14,550,872 in the last three months. 20.30% of the stock is owned by company insiders.

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

Berkeley Lights Profile

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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Institutional Ownership by Quarter for Berkeley Lights (NASDAQ:BLI)

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