Cetera Investment Advisers Acquires New Position in BioLife Solutions, Inc. $BLFS

Key Points

• Cetera Investment Advisers invested approximately $299,000 in BioLife Solutions, acquiring 13,089 shares during the first quarter.
• Major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares for $23.80 each, resulting in an 11.48% decrease in their ownership.
• Several analysts have issued mixed ratings for BioLife Solutions, with Zacks Research upgrading it to a "strong-buy" while Wall Street Zen downgraded it to "sell."

Cetera Investment Advisers acquired a new position in BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,089 shares of the medical equipment provider's stock, valued at approximately $299,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BioLife Solutions in the fourth quarter worth about $31,000. GAMMA Investing LLC raised its holdings in shares of BioLife Solutions by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 4,223 shares of the medical equipment provider's stock worth $96,000 after acquiring an additional 663 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in shares of BioLife Solutions by 16.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 9,077 shares of the medical equipment provider's stock valued at $207,000 after acquiring an additional 1,250 shares during the last quarter. Graham Capital Management L.P. bought a new position in shares of BioLife Solutions during the 4th quarter valued at approximately $254,000. Finally, ProShare Advisors LLC purchased a new position in shares of BioLife Solutions in the fourth quarter valued at $282,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Casdin Partners Master Fund, L sold 500,000 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $24.40, for a total value of $12,200,000.00. Following the completion of the sale, the insider owned 6,707,165 shares in the company, valued at approximately $163,654,826. This trade represents a 6.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 2,008,831 shares of company stock valued at $47,499,658. 2.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and set a $32.00 price target (up previously from $30.00) on shares of BioLife Solutions in a research note on Friday, August 8th. Wall Street Zen cut shares of BioLife Solutions from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Stephens assumed coverage on shares of BioLife Solutions in a report on Tuesday, July 22nd. They issued an "overweight" rating and a $30.00 price target for the company. Finally, Zacks Research raised shares of BioLife Solutions to a "strong-buy" rating in a report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $31.29.

BioLife Solutions Stock Performance

Shares of BioLife Solutions stock remained flat at $25.65 during trading on Tuesday. 541,408 shares of the stock traded hands, compared to its average volume of 576,652. The company has a 50 day simple moving average of $22.47 and a two-hundred day simple moving average of $23.38. The firm has a market capitalization of $1.23 billion, a PE ratio of -213.73 and a beta of 1.76. BioLife Solutions, Inc. has a 12-month low of $19.10 and a 12-month high of $29.55.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last released its earnings results on Thursday, August 7th. The medical equipment provider reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.31). The firm had revenue of $25.42 million during the quarter, compared to the consensus estimate of $23.71 million. BioLife Solutions had a positive return on equity of 0.16% and a negative net margin of 5.39%. BioLife Solutions has set its FY 2025 guidance at EPS. Analysts forecast that BioLife Solutions, Inc. will post -0.3 earnings per share for the current year.

BioLife Solutions 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.