BioLife Solutions, Inc. (NASDAQ:BLFS) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC reduced its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 14.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 293,487 shares of the medical equipment provider’s stock after selling 50,663 shares during the period. Peregrine Capital Management LLC owned approximately 0.67% of BioLife Solutions worth $4,769,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its position in BioLife Solutions by 167.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 1,020 shares during the period. Comerica Bank acquired a new stake in BioLife Solutions during the 3rd quarter worth about $259,000. Tudor Investment Corp Et Al acquired a new stake in BioLife Solutions during the 3rd quarter worth about $1,035,000. Sei Investments Co. grew its position in BioLife Solutions by 45.6% during the 3rd quarter. Sei Investments Co. now owns 63,873 shares of the medical equipment provider’s stock worth $882,000 after purchasing an additional 19,995 shares during the period. Finally, Meros Investment Management LP grew its position in BioLife Solutions by 14.7% during the 3rd quarter. Meros Investment Management LP now owns 372,203 shares of the medical equipment provider’s stock worth $5,140,000 after purchasing an additional 47,724 shares during the period. 93.24% of the stock is owned by institutional investors and hedge funds.

BioLife Solutions Trading Down 5.0 %

BLFS stock opened at $17.26 on Thursday. The company’s 50-day simple moving average is $17.74 and its 200-day simple moving average is $15.24. The company has a quick ratio of 1.83, a current ratio of 2.86 and a debt-to-equity ratio of 0.06. BioLife Solutions, Inc. has a 52-week low of $8.92 and a 52-week high of $24.50. The firm has a market cap of $781.88 million, a P/E ratio of -11.36 and a beta of 1.67.

BioLife Solutions (NASDAQ:BLFS) last posted its earnings results on Thursday, February 29th. The medical equipment provider reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.02. BioLife Solutions had a negative net margin of 46.37% and a negative return on equity of 13.36%. As a group, equities analysts forecast that BioLife Solutions, Inc. will post -0.6 EPS for the current fiscal year.

Insider Activity at BioLife Solutions

In related news, CEO Greef Roderick De sold 2,642 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $16.76, for a total value of $44,279.92. Following the transaction, the chief executive officer now directly owns 439,897 shares of the company’s stock, valued at approximately $7,372,673.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Greef Roderick De sold 2,642 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $16.76, for a total value of $44,279.92. Following the transaction, the chief executive officer now directly owns 439,897 shares of the company’s stock, valued at approximately $7,372,673.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Geraint Phillips sold 1,776 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $16.76, for a total transaction of $29,765.76. Following the completion of the transaction, the senior vice president now directly owns 58,251 shares in the company, valued at $976,286.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,419 shares of company stock valued at $550,058. 2.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group began coverage on shares of BioLife Solutions in a research note on Thursday, April 4th. They set a “buy” rating and a $22.00 target price on the stock. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BioLife Solutions currently has an average rating of “Moderate Buy” and an average target price of $23.40.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops, manufactures, and markets bioproduction tools and services for the cell and gene therapy (CGT) industry in the United States, Europe, the Middle East, Africa, and internationally. The company's products are used in the basic and applied research, and commercial manufacturing of biologic-based therapies.