Insider Selling: BioSpecifics Technologies Corp. (BSTC) Director Sells 2,500 Shares of Stock
BioSpecifics Technologies Corp. (NASDAQ:BSTC) Director Toby Wegman sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $51.89, for a total value of $129,725.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
NASDAQ BSTC traded up $0.14 on Friday, reaching $51.91. 39,300 shares of the company were exchanged, compared to its average volume of 25,670. The firm has a market capitalization of $350.52 million, a P/E ratio of 30.54 and a beta of 1.45. BioSpecifics Technologies Corp. has a fifty-two week low of $38.05 and a fifty-two week high of $54.50.
BioSpecifics Technologies (NASDAQ:BSTC) last released its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.10. The company had revenue of $7.10 million for the quarter, compared to analyst estimates of $7.10 million. BioSpecifics Technologies had a return on equity of 19.59% and a net margin of 49.78%. equities research analysts predict that BioSpecifics Technologies Corp. will post 2.09 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System boosted its stake in BioSpecifics Technologies by 8.2% during the second quarter. California Public Employees Retirement System now owns 18,153 shares of the biopharmaceutical company’s stock worth $814,000 after buying an additional 1,382 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in BioSpecifics Technologies by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 271,262 shares of the biopharmaceutical company’s stock worth $12,168,000 after buying an additional 1,612 shares during the last quarter. Acadian Asset Management LLC boosted its stake in BioSpecifics Technologies by 1.7% during the second quarter. Acadian Asset Management LLC now owns 110,934 shares of the biopharmaceutical company’s stock worth $4,976,000 after buying an additional 1,806 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in BioSpecifics Technologies during the fourth quarter worth $132,000. Finally, Bank of America Corp DE boosted its stake in BioSpecifics Technologies by 466.7% during the second quarter. Bank of America Corp DE now owns 4,086 shares of the biopharmaceutical company’s stock worth $183,000 after buying an additional 3,365 shares during the last quarter. 58.92% of the stock is currently owned by institutional investors.
About BioSpecifics Technologies
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.
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