E. F. Hutton lowered its stake in a biotech firm.

The venture capital group of the investment banking and brokerage company sold 121,100 shares in California Biotechnology Inc. of Mountain View, Calif., bringing its holding in the genetic engineering company to 10.5% from 12.4%. Hutton sold the shares from Oct. 16 through Nov. 1 at prices ranging from $10.625 to $11.25 a share, documents filed with the SEC show.