BioLife Solutions (NASDAQ:BLFS) Major Shareholder Sells $15,405,000.00 in Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $23.70, for a total value of $15,405,000.00. Following the completion of the transaction, the insider owned 4,757,165 shares of the company’s stock, valued at $112,744,810.50. The trade was a 12.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• 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 value of $5,925,000.00.
• On Tuesday, May 19th, Casdin Partners Master Fund, L sold 300,000 shares of BioLife Solutions stock. The stock was sold at an average price of $22.65, for a total value of $6,795,000.00.

BioLife Solutions Stock Performance

BioLife Solutions stock opened at $23.95 on Friday. BioLife Solutions, Inc. has a 52 week low of $17.86 and a 52 week high of $29.62. The stock has a market capitalization of $1.17 billion, a P/E ratio of -299.34 and a beta of 1.97. The stock has a 50-day simple moving average of $20.68 and a 200 day simple moving average of $22.95.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on BLFS. Wall Street Zen upgraded BioLife Solutions from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BioLife Solutions in a report on Monday, April 20th. Finally, Zacks Research cut BioLife Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.00.

Institutional Investors Weigh In On BioLife Solutions

Hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new stake in BioLife Solutions during the fourth quarter worth approximately $30,000. Kemnay Advisory Services Inc. acquired a new stake in BioLife Solutions during the fourth quarter worth approximately $35,000. Hantz Financial Services Inc. lifted its position in BioLife Solutions by 54.1% during the third quarter. Hantz Financial Services Inc. now owns 1,877 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 659 shares during the last quarter. State of Wyoming acquired a new stake in BioLife Solutions during the first quarter worth approximately $52,000. Finally, Quarry LP lifted its position in BioLife Solutions by 50.9% during the third quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock worth $54,000 after acquiring an additional 713 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.