BioSpecifics Technologies Corp. (BSTC) : Abdiel Capital Advisors Lp reduced its stake in BioSpecifics Technologies Corp. by 26.52% during the most recent quarter end. The investment management company now holds a total of 337,759 shares of BioSpecifics Technologies Corp. which is valued at $11.6 Million after selling 121,918 shares in BioSpecifics Technologies Corp. , the firm said in a disclosure report filed with the SEC on May 12, 2016.BioSpecifics Technologies Corp. makes up approximately 5.63% of Abdiel Capital Advisors Lp’s portfolio.
Other Hedge Funds, Including , Rk Capital Management boosted its stake in BSTC in the latest quarter, The investment management firm added 4,900 additional shares and now holds a total of 225,518 shares of BioSpecifics Technologies Corp. which is valued at $7.7 Million. BioSpecifics Technologies Corp. makes up approx 1.31% of Rk Capital Management’s portfolio.Mufg Americas Holdings Corp reduced its stake in BSTC by selling 140 shares or 40.0% in the most recent quarter. The Hedge Fund company now holds 210 shares of BSTC which is valued at $7,205.Royce Associates Lp boosted its stake in BSTC in the latest quarter, The investment management firm added 28,390 additional shares and now holds a total of 74,590 shares of BioSpecifics Technologies Corp. which is valued at $2.6 Million. BioSpecifics Technologies Corp. makes up approx 0.02% of Royce Associates Lp’s portfolio.Blackrock Group Ltd reduced its stake in BSTC by selling 4,592 shares or 51.93% in the most recent quarter. The Hedge Fund company now holds 4,250 shares of BSTC which is valued at $145,818.Smith Asset Management Group Lp reduced its stake in BSTC by selling 20 shares or 4.78% in the most recent quarter. The Hedge Fund company now holds 398 shares of BSTC which is valued at $13,850.
BioSpecifics Technologies Corp. opened for trading at $34.12 and hit $35.43 on the upside on Friday, eventually ending the session at $35.07, with a gain of 3.27% or 1.11 points. The heightened volatility saw the trading volume jump to 25,633 shares. Company has a market cap of $246,191 M.
Many Wall Street Analysts have commented on BioSpecifics Technologies Corp.. Rodman & Renshaw Initiated BioSpecifics Technologies Corp. on Mar 8, 2016 to “Buy”, Price Target of the shares are set at $60.
BioSpecifics Technologies Corp. is a biopharmaceutical company. The Company is engaged in the development of an injectable collagenase for multiple indications. The Company has a development and license agreement with Auxilium Pharmaceuticals Inc. (Auxilium) for injectable collagenase for marketed indications and collagenase clostridium histolyticum (CCH) for indications in development. Auxilium has an option to acquire additional indications that the Company may pursue including human and canine lipoma. The Company generates revenue primarily from Auxilium pursuant to the Second Amended and Restated Development and License Agreement with Auxilium (Auxilium Agreement). Under the Auxilium Agreement the Company receives license sublicense income royalties milestones and mark-up on cost of goods sold payments related to the sale and approval of XIAFLEX.