BioLife Solutions (NASDAQ:BLFS) Major Shareholder Sells $6,795,000.00 in Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) major shareholder Casdin Partners Master Fund, L sold 300,000 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $22.65, for a total transaction of $6,795,000.00. Following the sale, the insider owned 5,657,165 shares in the company, valued at approximately $128,134,787.25. This represents a 5.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Casdin Partners Master Fund, L also recently made the following trade(s):

• On Thursday, May 21st, Casdin Partners Master Fund, L sold 650,000 shares of BioLife Solutions stock. The shares were sold at an average price of $23.70, for a total transaction of $15,405,000.00.
• On Wednesday, May 20th, Casdin Partners Master Fund, L sold 250,000 shares of BioLife Solutions stock. The shares were sold at an average price of $23.70, for a total transaction of $5,925,000.00.

BioLife Solutions Stock Performance

BLFS stock opened at $23.95 on Friday. The firm has a market cap of $1.17 billion, a PE ratio of -299.34 and a beta of 1.97. The firm’s fifty day moving average is $20.68 and its 200 day moving average is $22.95. BioLife Solutions, Inc. has a one year low of $17.86 and a one year high of $29.62.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings results on Thursday, May 7th. The medical equipment provider reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. The company had revenue of $27.50 million for the quarter, compared to analyst estimates of $25.66 million. BioLife Solutions had a negative net margin of 2.80% and a positive return on equity of 1.81%. Research analysts predict that BioLife Solutions, Inc. will post 0.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BLFS has been the topic of several analyst reports. Wall Street Zen upgraded shares of BioLife Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of BioLife Solutions in a research note on Monday, April 20th. Finally, Zacks Research cut shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $32.00.

Hedge Funds Weigh In On BioLife Solutions

Institutional investors and hedge funds have recently bought and sold shares of the business. Tudor Investment Corp ET AL boosted its position in BioLife Solutions by 85.2% during the third quarter. Tudor Investment Corp ET AL now owns 111,356 shares of the medical equipment provider’s stock worth $2,841,000 after acquiring an additional 51,217 shares during the last quarter. Capricorn Fund Managers Ltd acquired a new position in BioLife Solutions during the fourth quarter worth about $9,153,000. Vanguard Group Inc. boosted its position in BioLife Solutions by 2.4% during the third quarter. Vanguard Group Inc. now owns 2,967,518 shares of the medical equipment provider’s stock worth $75,701,000 after acquiring an additional 70,248 shares during the last quarter. Summit Creek Advisors LLC boosted its position in BioLife Solutions by 24.2% during the fourth quarter. Summit Creek Advisors LLC now owns 238,802 shares of the medical equipment provider’s stock worth $5,774,000 after acquiring an additional 46,541 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in BioLife Solutions by 19.7% during the third quarter. Public Sector Pension Investment Board now owns 151,378 shares of the medical equipment provider’s stock worth $3,862,000 after acquiring an additional 24,913 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

BioLife Solutions Company Profile

BioLife Solutions (NASDAQ:BLFS) specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife’s product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company’s flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.