Goldman Sachs Group Inc. Cuts Stake in BioLife Solutions, Inc. $BLFS

Key Points

• Goldman Sachs Group Inc. reduced its stake in BioLife Solutions by 8.6%, selling 32,600 shares during the 1st quarter, now owning about 0.73% of the company.
• BioLife Solutions reported an earnings miss with an EPS of ($0.33), significantly lower than the consensus estimate of ($0.02), despite revenue exceeding expectations at $25.42 million.
• Multiple analysts have varying recommendations on BioLife Solutions, with Zacks upgrading it to a "strong-buy" and HC Wainwright raising their price target to $32.00.

Goldman Sachs Group Inc. reduced its holdings in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 345,548 shares of the medical equipment provider's stock after selling 32,600 shares during the period. Goldman Sachs Group Inc. owned about 0.73% of BioLife Solutions worth $7,892,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in BioLife Solutions during the 4th quarter worth approximately $31,000. State of Wyoming increased its stake in BioLife Solutions by 353.1% during the 1st quarter. State of Wyoming now owns 1,912 shares of the medical equipment provider's stock worth $44,000 after buying an additional 1,490 shares during the period. US Bancorp DE increased its stake in BioLife Solutions by 243.7% during the 1st quarter. US Bancorp DE now owns 2,155 shares of the medical equipment provider's stock worth $49,000 after buying an additional 1,528 shares during the period. GAMMA Investing LLC increased its position in shares of BioLife Solutions by 18.6% in the 1st quarter. GAMMA Investing LLC now owns 4,223 shares of the medical equipment provider's stock valued at $96,000 after purchasing an additional 663 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of BioLife Solutions in the 1st quarter valued at approximately $153,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

BioLife Solutions Price Performance

Shares of NASDAQ:BLFS opened at $25.51 on Friday. BioLife Solutions, Inc. has a 1-year low of $19.10 and a 1-year high of $29.55. The stock has a market cap of $1.22 billion, a P/E ratio of -212.57 and a beta of 1.78. The firm has a fifty day moving average price of $23.47 and a 200 day moving average price of $23.29.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on BLFS shares. Wall Street Zen downgraded 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 target price for the company. Zacks Research upgraded shares of BioLife Solutions to a "strong-buy" rating in a report on Monday, August 11th. Finally, HC Wainwright reiterated 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. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $31.29.

Insider Buying and Selling at BioLife Solutions

In other news, major shareholder Casdin Partners Master Fund, L sold 500,000 shares of the firm's stock in a transaction on 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 is accessible through this hyperlink. Also, CMO Todd Berard sold 10,000 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $25.53, for a total transaction of $255,300.00. Following the completion of the sale, the chief marketing officer owned 124,618 shares of the company's stock, valued at $3,181,497.54. This trade represents a 7.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,016,359 shares of company stock valued at $23,902,747 in the last 90 days. Company insiders own 2.20% of the company's stock.

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.

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