Cigna Investments Inc. New Sells 13,422 Shares of BioSpecifics Technologies Corp (BSTC)

Cigna Investments Inc. New decreased its position in shares of BioSpecifics Technologies Corp (NASDAQ:BSTC) by 62.8% during the second quarter, Holdings Channel reports. The institutional investor owned 7,946 shares of the biopharmaceutical company’s stock after selling 13,422 shares during the period. Cigna Investments Inc. New’s holdings in BioSpecifics Technologies Corp were worth $393,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE boosted its position in shares of BioSpecifics Technologies Corp by 1.1% in the second quarter. US Bancorp DE now owns 3,455 shares of the biopharmaceutical company’s stock worth $171,000 after buying an additional 36 shares in the last quarter. American International Group Inc. boosted its position in shares of BioSpecifics Technologies Corp by 7.1% in the first quarter. American International Group Inc. now owns 3,327 shares of the biopharmaceutical company’s stock worth $182,000 after buying an additional 222 shares in the last quarter. Geneva Advisors LLC boosted its position in shares of BioSpecifics Technologies Corp by 2.1% in the first quarter. Geneva Advisors LLC now owns 14,406 shares of the biopharmaceutical company’s stock worth $789,000 after buying an additional 293 shares in the last quarter. Adams Diversified Equity Fund Inc. boosted its position in shares of BioSpecifics Technologies Corp by 2.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 14,900 shares of the biopharmaceutical company’s stock worth $817,000 after buying an additional 400 shares in the last quarter. Finally, Algert Global LLC boosted its position in shares of BioSpecifics Technologies Corp by 5.5% in the first quarter. Algert Global LLC now owns 7,924 shares of the biopharmaceutical company’s stock worth $434,000 after buying an additional 410 shares in the last quarter. 54.81% of the stock is currently owned by hedge funds and other institutional investors.

BioSpecifics Technologies Corp (BSTC) opened at 45.24 on Friday. The stock’s 50 day moving average price is $49.14 and its 200-day moving average price is $51.65. The stock has a market cap of $324.10 million, a PE ratio of 27.75 and a beta of 1.76. BioSpecifics Technologies Corp has a 12 month low of $35.79 and a 12 month high of $58.79.

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A number of research analysts have recently commented on the company. HC Wainwright set a $72.00 price target on BioSpecifics Technologies Corp and gave the company a “buy” rating in a research report on Thursday, August 10th. Zacks Investment Research raised BioSpecifics Technologies Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, BidaskClub cut BioSpecifics Technologies Corp from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd.

BioSpecifics Technologies Corp Company Profile

BioSpecifics Technologies Corp. is a biopharmaceutical company involved in the development of an injectable collagenase clostridium histolyticum for multiple indications. The Company has a development and license agreement with Endo Global Ventures, a Bermuda unlimited liability company (Endo Global Ventures), an affiliate of Endo International plc (Endo), for injectable collagenase for marketed indications and indications in development.

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Institutional Ownership by Quarter for BioSpecifics Technologies Corp (NASDAQ:BSTC)

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