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Angel Investor (Individual)

Investments

2

Portfolio Exits

1

About Brian Weinstein

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Latest Brian Weinstein News

Berkeley Lights slumps 33% amid cuts at Stifel, William Blair on guidance, CEO transition

Jan 6, 2022

tolgart/iStock via Getty Images Berkeley Lights ( BLI -34.7%) was downgraded by Stifel and William Blair after the company lowered their revenue outlook for both 2021 and 2022 and announced a CEO transition. Stifel downgraded Berkeley Lights to Hold from Buy with a price target of $12, down from $61. Yesterday, the life sciences company announced that its current CEO and board member Eric Hobbs will transition to the role of President of the company's Antibody Therapeutics business line. The company has begun the search for a new CEO. For the full year, the company expects its revenue to reach $84.0M – $84.5M. The consensus revenue estimate for 2021 is $90.76M. Stifel said in a note that the last 12-months have been arduous for BLI, and while we thought the company was making progress with respect to the evolution of the business model (and still do in certain areas), the confidence in the business simply is not there - and we believe the stock seems bound to be dead money for a while. The chart below shows 1-year total return performance of BLI and its peers Seer, MaxCyte and Quanterix: The company was also downgraded by William Blair analyst Brian Weinstein to Market Perform from Outperform without a price target. Weinstein said the company's preliminary 2021 results that missed targets, its 2022 outlook is below expectations, and the CEO transition is a bit "unconventional". The "amalgamation of uncertainty is just one step too far for us right now, especially in an environment where even clean growth stories are falling further out of favor," the analyst noted. Weinstein awaits better clarity on the business model and details on a new CEO before coming back to the story. To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.

Brian Weinstein Investments

2 Investments

Brian Weinstein has made 2 investments. Their latest investment was in Dot.LA as part of their Seed VC on January 1, 2020.

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Brian Weinstein Investments Activity

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Brian Weinstein Portfolio Exits

1 Portfolio Exit

Brian Weinstein has 1 portfolio exit. Their latest portfolio exit was Aspiration on August 18, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/18/2021

Acq - Pending

$99M

1

Date

8/18/2021

Exit

Acq - Pending

Companies

Valuation

$99M

Acquirer

Sources

1

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