GAMMA Investing LLC boosted its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 2,609.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,453 shares of the medical equipment provider's stock after acquiring an additional 92,893 shares during the period. GAMMA Investing LLC owned 0.21% of BioLife Solutions worth $2,203,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of BioLife Solutions during the 4th quarter valued at about $20,664,000. Massachusetts Financial Services Co. MA bought a new stake in BioLife Solutions in the 4th quarter valued at about $19,805,000. Point72 Asset Management L.P. acquired a new position in BioLife Solutions during the 4th quarter worth approximately $11,113,000. Millennium Management LLC grew its stake in BioLife Solutions by 49.1% in the fourth quarter. Millennium Management LLC now owns 1,145,347 shares of the medical equipment provider's stock valued at $29,733,000 after acquiring an additional 377,111 shares during the period. Finally, Rockefeller Capital Management L.P. raised its position in shares of BioLife Solutions by 40.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 821,764 shares of the medical equipment provider's stock worth $21,333,000 after purchasing an additional 236,267 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of BioLife Solutions from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price target on shares of BioLife Solutions in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $31.17.
View Our Latest Research Report on BLFS
Insider Buying and Selling at BioLife Solutions
In related news, CFO Troy Wichterman sold 25,687 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $22.66, for a total transaction of $582,067.42. Following the completion of the sale, the chief financial officer now owns 189,242 shares of the company's stock, valued at $4,288,223.72. This trade represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares of the business's 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 completion of the transaction, the insider now owns 7,707,165 shares of the company's stock, valued at $183,430,527. This represents a 11.48% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,057,674 shares of company stock worth $25,104,065. 2.20% of the stock is currently owned by company insiders.
BioLife Solutions Price Performance
Shares of BLFS traded up $0.30 during midday trading on Monday, hitting $22.33. 226,936 shares of the company traded hands, compared to its average volume of 405,813. BioLife Solutions, Inc. has a one year low of $18.70 and a one year high of $29.55. The firm has a market cap of $1.06 billion, a P/E ratio of -21.05 and a beta of 1.82. 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 stock has a 50-day moving average of $22.72 and a 200-day moving average of $24.93.
BioLife Solutions (NASDAQ:BLFS - Get Free Report) last posted its earnings results on Thursday, May 8th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $22.22 million. As a group, sell-side analysts predict that BioLife Solutions, Inc. will post -0.3 EPS for the current fiscal year.
About BioLife Solutions
(
Free Report)
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.
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