Bank of America Corp DE Sells 106,327 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

Bank of America Corp DE cut its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 16.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 541,079 shares of the medical equipment provider's stock after selling 106,327 shares during the quarter. Bank of America Corp DE owned approximately 1.17% of BioLife Solutions worth $14,046,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BLFS. Steward Partners Investment Advisory LLC acquired a new position in shares of BioLife Solutions in the fourth quarter worth approximately $26,000. 1620 Investment Advisors Inc. raised its holdings in BioLife Solutions by 41.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider's stock worth $60,000 after purchasing an additional 675 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of BioLife Solutions by 27.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,469 shares of the medical equipment provider's stock worth $117,000 after purchasing an additional 950 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of BioLife Solutions in the 4th quarter worth approximately $171,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of BioLife Solutions in the 4th quarter valued at $201,000. Institutional investors own 93.24% of the company's stock.

Insider Transactions at BioLife Solutions

In other news, CMO Todd Berard sold 1,577 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total value of $39,425.00. Following the completion of the sale, the chief marketing officer now owns 104,961 shares in the company, valued at $2,624,025. This represents a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Aby J. Mathew sold 10,589 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $22.66, for a total transaction of $239,946.74. Following the completion of the sale, the executive vice president now owns 309,576 shares of the company's stock, valued at approximately $7,014,992.16. This represents a 3.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,696 shares of company stock valued at $1,665,094 over the last three months. Corporate insiders own 2.20% of the company's stock.

BioLife Solutions Stock Up 2.2%

NASDAQ BLFS traded up $0.48 on Tuesday, hitting $22.26. 425,920 shares of the company were exchanged, compared to its average volume of 386,081. 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 company has a market cap of $1.06 billion, a PE ratio of -21.00 and a beta of 2.01. The stock has a fifty day moving average of $23.07 and a 200-day moving average of $25.14. BioLife Solutions, Inc. has a 12 month low of $18.70 and a 12 month high of $29.55.

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

Wall Street Analyst Weigh In

BLFS has been the topic of several recent analyst reports. Wall Street Zen lowered shares of BioLife Solutions from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. HC Wainwright reiterated a "buy" rating and set a $30.00 price target on shares of BioLife Solutions in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.17.

About BioLife Solutions

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.