Meros Investment Management LP Sells 33,795 Shares of BioLife Solutions, Inc. $BLFS

Key Points

• Meros Investment Management LP reduced its stake in BioLife Solutions by 20.4%, selling 33,795 shares and owning 131,650 shares, which now constitutes 1.8% of its overall portfolio.
• Institutions collectively own 93.24% of BioLife Solutions, with various investors like Point72 Asia and US Bancorp DE altering their holdings significantly in recent quarters.
• Recent analyst ratings show a consensus outlook of "Moderate Buy" for BioLife Solutions, with price targets ranging up to $32.00 following recent evaluations.

Meros Investment Management LP cut its position in BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 20.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 131,650 shares of the medical equipment provider's stock after selling 33,795 shares during the quarter. BioLife Solutions makes up 1.8% of Meros Investment Management LP's investment portfolio, making the stock its 27th biggest holding. Meros Investment Management LP owned about 0.28% of BioLife Solutions worth $3,007,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. raised its stake in shares of BioLife Solutions by 0.5% during the 1st quarter. Sei Investments Co. now owns 117,999 shares of the medical equipment provider's stock worth $2,695,000 after buying an additional 547 shares in the last quarter. Rhumbline Advisers grew its holdings in BioLife Solutions by 0.7% during the 1st quarter. Rhumbline Advisers now owns 83,227 shares of the medical equipment provider's stock valued at $1,901,000 after buying an additional 566 shares during the last quarter. GAMMA Investing LLC grew its holdings in BioLife Solutions by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 4,223 shares of the medical equipment provider's stock valued at $96,000 after buying an additional 663 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in BioLife Solutions by 5.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,508 shares of the medical equipment provider's stock valued at $532,000 after buying an additional 1,047 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BioLife Solutions during the fourth quarter worth $31,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BioLife Solutions news, major shareholder Casdin Partners Master Fund, L sold 500,000 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $22.60, for a total transaction of $11,300,000.00. Following the sale, the insider directly owned 7,207,165 shares of the company's stock, valued at approximately $162,881,929. This represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,508,831 shares of company stock worth $35,299,658 over the last quarter. 2.20% of the stock is currently owned by corporate insiders.

BioLife Solutions Price Performance

NASDAQ:BLFS traded up $0.25 during trading hours on Thursday, reaching $25.21. The company's stock had a trading volume of 104,182 shares, compared to its average volume of 481,080. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -209.69 and a beta of 1.76. BioLife Solutions, Inc. has a one year low of $19.10 and a one year high of $29.55. The business's 50-day moving average is $22.21 and its 200-day moving average is $23.43.

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 for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $23.71 million. BioLife Solutions has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that BioLife Solutions, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.