115,863 BioLife Solutions, Inc. $BLFS Shares Sold by Isthmus Partners LLC

Key Points

• Isthmus Partners sharply reduced its BioLife Solutions stake by selling 115,863 shares, an 82.2% decrease, leaving it with 25,124 shares worth approximately $976,000.
• BioLife Solutions shares opened at $38.61, near their 52-week high of $39.76, with a $1.89 billion market capitalization. Institutional investors and hedge funds collectively own 93.24% of the stock.
• The company exceeded quarterly earnings expectations, reporting $0.91 EPS versus the $0.03 consensus and $28.47 million in revenue. However, analysts remain cautious, with the stock carrying a consensus “Hold” rating and an average price target of $31.38.

Isthmus Partners LLC lowered its holdings in BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 82.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,124 shares of the medical equipment provider's stock after selling 115,863 shares during the period. Isthmus Partners LLC owned about 0.05% of BioLife Solutions worth $976,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLFS. State of Wyoming acquired a new position in shares of BioLife Solutions during the 1st quarter worth about $52,000. Nisa Investment Advisors LLC increased its position in shares of BioLife Solutions by 13.3% in the third quarter. Nisa Investment Advisors LLC now owns 2,209 shares of the medical equipment provider's stock valued at $86,000 after acquiring an additional 260 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of BioLife Solutions in the second quarter valued at about $201,000. AXQ Capital LP acquired a new stake in shares of BioLife Solutions in the second quarter valued at about $203,000. Finally, Cetera Investment Advisers raised its holdings in BioLife Solutions by 26.8% during the first quarter. Cetera Investment Advisers now owns 11,614 shares of the medical equipment provider's stock worth $222,000 after acquiring an additional 2,458 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

BioLife Solutions Price Performance

Shares of BLFS opened at $38.61 on Friday. The company has a market cap of $1.89 billion, a PE ratio of 33.28 and a beta of 1.82. The firm has a 50-day moving average of $37.18 and a 200-day moving average of $30.00. BioLife Solutions, Inc. has a one year low of $17.86 and a one year high of $39.76.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last issued its earnings results on Thursday, August 6th. The medical equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.88. BioLife Solutions had a net margin of 53.29% and a return on equity of 2.70%. The company had revenue of $28.47 million for the quarter, compared to analysts' expectations of $27.80 million. Analysts expect that BioLife Solutions, Inc. will post 0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BLFS has been the subject of several recent research reports. HC Wainwright cut BioLife Solutions from a "buy" rating to a "neutral" rating and reduced their price target for the company from $32.00 to $31.00 in a research report on Thursday, July 23rd. Wall Street Zen lowered BioLife Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Weiss Ratings raised BioLife Solutions from a "sell (d-)" rating to a "hold (c)" rating in a research report on Tuesday, September 22nd. William Blair set a $31.00 price objective on BioLife Solutions in a research note on Thursday, July 23rd. Finally, Zacks Research downgraded BioLife Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, BioLife Solutions presently has an average rating of "Hold" and a consensus target price of $31.38.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops and supplies products and services used to preserve, process, store and transport biological materials. Its solutions support the development and manufacture of cell and gene therapies, including products designed to help maintain the viability and functionality of cells, tissues and other biologic materials throughout the bioprocessing workflow.

The company's portfolio includes preservation media such as CryoStor and HypoThermosol, cell thawing and handling products, and related storage and shipping systems.

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