GAMMA Investing LLC Has $2.20 Million Stock Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

GAMMA Investing LLC boosted its position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 2,609.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 96,453 shares of the medical equipment provider's stock after purchasing an additional 92,893 shares during the quarter. GAMMA Investing LLC owned about 0.21% of BioLife Solutions worth $2,203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BLFS. Principal Financial Group Inc. raised its holdings in BioLife Solutions by 28.1% during 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 last quarter. D.A. Davidson & CO. increased its stake in shares of BioLife Solutions by 1.3% in the 4th quarter. D.A. Davidson & CO. now owns 41,179 shares of the medical equipment provider's stock valued at $1,069,000 after acquiring an additional 519 shares during the last quarter. Peregrine Capital Management LLC increased its stake in shares of BioLife Solutions by 18.1% in 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 acquiring an additional 54,100 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of BioLife Solutions by 4.3% in 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 last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of BioLife Solutions in the 4th quarter valued at about $638,000. 93.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. HC Wainwright reiterated a "buy" rating and issued a $30.00 price objective on shares of BioLife Solutions in a research report on Tuesday, May 13th. Wall Street Zen lowered BioLife Solutions from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $31.17.

Insiders Place Their Bets

In other news, CFO Troy Wichterman sold 25,687 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $22.66, for a total transaction of $582,067.42. Following the sale, the chief financial officer now directly owns 189,242 shares of the company's stock, valued at approximately $4,288,223.72. This represents a 11.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $23.80, for a total value of $23,800,000.00. Following the sale, the insider now directly owns 7,707,165 shares in the company, valued at approximately $183,430,527. This trade represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,060,369 shares of company stock worth $25,172,626 in the last 90 days. Company insiders own 2.20% of the company's stock.

BioLife Solutions Stock Down 5.5%

NASDAQ:BLFS traded down $1.27 during trading hours on Friday, reaching $22.03. 820,307 shares of the stock were exchanged, compared to its average volume of 406,431. BioLife Solutions, Inc. has a twelve month low of $18.70 and a twelve month high of $29.55. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. The firm has a 50 day moving average of $22.72 and a 200 day moving average of $24.95. The stock has a market cap of $1.05 billion, a PE ratio of -20.78 and a beta of 1.82.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The medical equipment provider reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.07. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. The firm had revenue of $23.94 million during the quarter, compared to the consensus estimate of $22.22 million. On average, equities analysts expect 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.