Point72 Asset Management L.P. Makes New $11.11 Million Investment in BioLife Solutions, Inc. (NASDAQ:BLFS)

Point72 Asset Management L.P. purchased a new stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 428,099 shares of the medical equipment provider's stock, valued at approximately $11,113,000. Point72 Asset Management L.P. owned 0.92% of BioLife Solutions as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new position in shares of BioLife Solutions during the fourth quarter valued at $26,000. 1620 Investment Advisors Inc. boosted its position in BioLife Solutions by 41.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider's stock valued at $60,000 after purchasing an additional 675 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in BioLife Solutions by 27.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,469 shares of the medical equipment provider's stock valued at $117,000 after purchasing an additional 950 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in BioLife Solutions in the fourth quarter worth about $171,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in BioLife Solutions in the fourth quarter worth about $201,000. Hedge funds and other institutional investors own 93.24% of the company's stock.

Insiders Place Their Bets

In other news, CMO Todd Berard sold 8,902 shares of BioLife Solutions stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $22.66, for a total transaction of $201,719.32. Following the completion of the sale, the chief marketing officer now directly owns 135,956 shares in the company, valued at $3,080,762.96. The trade was a 6.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sarah Aebersold sold 5,771 shares of the business'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 $130,770.86. Following the completion of the sale, the insider now owns 80,094 shares of the company's stock, valued at approximately $1,814,930.04. The trade was a 6.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,696 shares of company stock worth $1,665,094. Insiders own 2.20% of the company's stock.

Analyst Ratings Changes

BLFS has been the subject of several recent analyst reports. Wall Street Zen downgraded BioLife Solutions from a "hold" rating to a "sell" rating in a report on Wednesday. HC Wainwright reaffirmed a "buy" rating and set a $30.00 target price on shares of BioLife Solutions in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company's stock. According to MarketBeat, BioLife Solutions has a consensus rating of "Moderate Buy" and an average target price of $31.17.

BioLife Solutions Stock Down 1.4%

Shares of NASDAQ BLFS traded down $0.32 during midday trading on Friday, hitting $21.78. The company's stock had a trading volume of 284,704 shares, compared to its average volume of 385,328. The business's fifty day simple moving average is $23.20 and its two-hundred day simple moving average is $25.21. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. BioLife Solutions, Inc. has a 1 year low of $18.70 and a 1 year high of $29.55. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -20.55 and a beta of 2.01.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $23.94 million for the quarter, compared to the consensus estimate of $22.22 million. On average, equities analysts predict that BioLife Solutions, Inc. will post -0.3 EPS for the current year.

BioLife Solutions Company 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.