BioLife Solutions (NASDAQ:BLFS) Major Shareholder Sells $5,925,000.00 in Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) major shareholder Casdin Partners Master Fund, L sold 250,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $23.70, for a total transaction of $5,925,000.00. Following the transaction, the insider owned 5,407,165 shares in the company, valued at $128,149,810.50. The trade was a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares 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 stock was sold at an average price of $23.70, for a total transaction of $15,405,000.00.
• 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 transaction of $6,795,000.00.

BioLife Solutions Stock Performance

BLFS traded up $0.74 on Thursday, hitting $24.74. 1,074,792 shares of the company were exchanged, compared to its average volume of 468,051. The business’s fifty day moving average is $20.58 and its 200 day moving average is $22.94. BioLife Solutions, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $29.62. The firm has a market capitalization of $1.21 billion, a P/E ratio of -309.21 and a beta of 1.97.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On BioLife Solutions

Institutional investors and hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in shares of BioLife Solutions during the fourth quarter valued at approximately $30,000. Kemnay Advisory Services Inc. purchased a new position in shares of BioLife Solutions during the fourth quarter valued at approximately $35,000. Hantz Financial Services Inc. lifted its stake in shares of 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 valued at $48,000 after buying an additional 659 shares during the period. Quarry LP lifted its stake in shares of BioLife Solutions by 50.9% during the third quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock valued at $54,000 after buying an additional 713 shares during the period. Finally, State of Wyoming purchased a new position in shares of BioLife Solutions during the first quarter valued at approximately $52,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.