ARK Investment Management LLC lifted its stake in shares of Berkeley Lights, Inc. (NASDAQ:BLI – Get Rating) by 1.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,422,424 shares of the company's stock after acquiring an additional 121,085 shares during the period. ARK Investment Management LLC owned 12.42% of Berkeley Lights worth $40,259,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Amalgamated Bank bought a new stake in Berkeley Lights during the 1st quarter valued at $56,000. Point72 Hong Kong Ltd bought a new stake in Berkeley Lights during the 4th quarter valued at $76,000. Welch & Forbes LLC bought a new stake in Berkeley Lights during the 1st quarter valued at $78,000. Oak Thistle LLC bought a new stake in Berkeley Lights during the 1st quarter valued at $80,000. Finally, Hsbc Holdings PLC increased its stake in Berkeley Lights by 50.6% during the 1st quarter. Hsbc Holdings PLC now owns 17,665 shares of the company's stock valued at $126,000 after purchasing an additional 5,939 shares in the last quarter. Institutional investors and hedge funds own 69.67% of the company's stock.
Get Berkeley Lights alerts:Wall Street Analyst Weigh In
A number of brokerages have commented on BLI. BTIG Research lowered shares of Berkeley Lights from a "buy" rating to a "neutral" rating in a research note on Wednesday, August 10th. JPMorgan Chase & Co. lowered shares of Berkeley Lights from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $12.00 to $8.00 in a research note on Wednesday, August 10th. Finally, Morgan Stanley lowered shares of Berkeley Lights from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $10.00 to $5.00 in a research note on Wednesday, August 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $18.40.
Berkeley Lights Trading Down 3.9 %
NASDAQ BLI opened at $3.49 on Friday. Berkeley Lights, Inc. has a 1 year low of $3.33 and a 1 year high of $27.48. The company has a current ratio of 6.61, a quick ratio of 6.07 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average price of $4.35 and a 200-day moving average price of $5.15.Berkeley Lights (NASDAQ:BLI – Get Rating) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.08). The company had revenue of $19.15 million for the quarter, compared to the consensus estimate of $20.82 million. Berkeley Lights had a negative net margin of 98.21% and a negative return on equity of 42.87%. Berkeley Lights's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.27) EPS. As a group, sell-side analysts anticipate that Berkeley Lights, Inc. will post -1.23 earnings per share for the current year.
About Berkeley Lights
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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.
Further Reading
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