Casdin Partners Master Fund, L Sells 1,000,000 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) Stock

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares of BioLife Solutions stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $23.80, for a total transaction of $23,800,000.00. Following the completion of the transaction, the insider now directly owns 7,707,165 shares of the company's stock, valued at $183,430,527. This trade represents a 11.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

BioLife Solutions Stock Performance

BLFS stock traded down $1.27 during trading on Friday, reaching $22.03. The stock had a trading volume of 820,307 shares, compared to its average volume of 404,654. The firm has a market cap of $1.05 billion, a PE ratio of -20.78 and a beta of 1.82. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The stock's 50 day moving average is $22.69 and its two-hundred day moving average is $25.00. BioLife Solutions, Inc. has a 52 week low of $18.70 and a 52 week high of $29.55.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The medical equipment provider reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.07. The firm had revenue of $23.94 million for the quarter, compared to analysts' expectations of $22.22 million. BioLife Solutions had a negative net margin of 38.98% and a negative return on equity of 6.61%. As a group, equities analysts anticipate that BioLife Solutions, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price target on shares of BioLife Solutions in a report on Tuesday, May 13th. Wall Street Zen cut shares of BioLife Solutions from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.17.

Institutional Investors Weigh In On BioLife Solutions

Hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings in BioLife Solutions by 28.1% in the 4th quarter. Principal Financial Group Inc. now owns 244,247 shares of the medical equipment provider's stock worth $6,341,000 after purchasing an additional 53,532 shares during the period. D.A. Davidson & CO. raised its stake in shares of BioLife Solutions by 1.3% in the fourth quarter. D.A. Davidson & CO. now owns 41,179 shares of the medical equipment provider's stock worth $1,069,000 after buying an additional 519 shares during the period. Peregrine Capital Management LLC lifted its position in shares of BioLife Solutions by 18.1% during the 4th quarter. Peregrine Capital Management LLC now owns 352,205 shares of the medical equipment provider's stock valued at $9,143,000 after buying an additional 54,100 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of BioLife Solutions by 4.3% during the 4th quarter. New York State Common Retirement Fund now owns 260,315 shares of the medical equipment provider's stock valued at $6,758,000 after acquiring an additional 10,836 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in BioLife Solutions in the 4th quarter worth approximately $638,000. Institutional investors own 93.24% of the company's stock.

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.