Abdiel Capital Advisors Lp Exits Position in BioSpecifics Technologies Corp. (BSTC)

BioSpecifics Technologies Corp. (BSTC) : Abdiel Capital Advisors Lp has sold out all of its stake in BioSpecifics Technologies Corp. during the most recent quarter, according to the disclosure filed by the company on Aug 12, 2016 with the SEC. The investment management company has sold out 337,759 shares of BioSpecifics Technologies Corp. which is valued at $13,848,119.

Other Hedge Funds, Including , Bogle Investment Management L P De boosted its stake in BSTC in the latest quarter, The investment management firm added 14,013 additional shares and now holds a total of 34,543 shares of BioSpecifics Technologies Corp. which is valued at $1,416,263. BioSpecifics Technologies Corp. makes up approx 0.09% of Bogle Investment Management L P De’s portfolio.Blackrock Investment Management boosted its stake in BSTC in the latest quarter, The investment management firm added 3,738 additional shares and now holds a total of 21,389 shares of BioSpecifics Technologies Corp. which is valued at $876,949.Stonepine Capital Management boosted its stake in BSTC in the latest quarter, The investment management firm added 4,363 additional shares and now holds a total of 30,000 shares of BioSpecifics Technologies Corp. which is valued at $1,230,000. BioSpecifics Technologies Corp. makes up approx 1.31% of Stonepine Capital Management’s portfolio.Dimensional Fund Advisors Lp boosted its stake in BSTC in the latest quarter, The investment management firm added 1,722 additional shares and now holds a total of 178,251 shares of BioSpecifics Technologies Corp. which is valued at $6,944,659.Geneva Advisors boosted its stake in BSTC in the latest quarter, The investment management firm added 755 additional shares and now holds a total of 14,072 shares of BioSpecifics Technologies Corp. which is valued at $553,030. BioSpecifics Technologies Corp. makes up approx 0.01% of Geneva Advisors’s portfolio.

BioSpecifics Technologies Corp. opened for trading at $36.93 and hit $37.82 on the upside on Monday, eventually ending the session at $37.21, with a gain of 0.62% or 0.23 points. The heightened volatility saw the trading volume jump to 19,603 shares. Company has a market cap of $261 M.

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.

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