Royce & Associates LP Has $19.66 Million Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

Key Points

• Royce & Associates LP increased its stake in BioLife Solutions by 10.7%, owning approximately 1.81% of the company, valued at about $19.66 million.
• Major shareholder Casdin Partners Master Fund, L sold 1 million shares for $23.8 million, reducing its ownership by 11.48% but still retaining over 7.7 million shares.
• The stock has experienced fluctuations, with a 52-week low of $19.10 and a high of $29.55, and recent analyst ratings indicate a consensus target price of $31.00.

Royce & Associates LP grew its holdings in BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 10.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 860,744 shares of the medical equipment provider's stock after purchasing an additional 83,462 shares during the quarter. Royce & Associates LP owned approximately 1.81% of BioLife Solutions worth $19,659,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Invesco Ltd. boosted its stake in shares of BioLife Solutions by 1.1% in the 4th quarter. Invesco Ltd. now owns 3,239,469 shares of the medical equipment provider's stock valued at $84,097,000 after purchasing an additional 36,176 shares during the last quarter. Fred Alger Management LLC raised its position in shares of BioLife Solutions by 1.0% in the 4th quarter. Fred Alger Management LLC now owns 1,594,221 shares of the medical equipment provider's stock valued at $41,386,000 after acquiring an additional 16,274 shares during the period. Millennium Management LLC raised its position in shares of BioLife Solutions by 49.1% in the 4th 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. Palisade Capital Management LP raised its position in shares of BioLife Solutions by 13.7% in the 1st quarter. Palisade Capital Management LP now owns 947,085 shares of the medical equipment provider's stock valued at $21,631,000 after acquiring an additional 113,937 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of BioLife Solutions by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 887,008 shares of the medical equipment provider's stock valued at $23,028,000 after acquiring an additional 40,416 shares during the period. Institutional investors own 93.24% of the company's stock.

BioLife Solutions Stock Up 0.8%

Shares of BLFS stock traded up $0.18 during trading on Monday, reaching $22.76. The company's stock had a trading volume of 70,034 shares, compared to its average volume of 468,284. The business has a fifty day moving average price of $22.07 and a 200-day moving average price of $23.94. The company has a quick ratio of 3.74, a current ratio of 4.73 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -78.29 and a beta of 1.79. BioLife Solutions, Inc. has a one year low of $19.10 and a one year high of $29.55.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The medical equipment provider reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.07. The business had revenue of $23.94 million for the quarter, compared to analyst estimates of $22.22 million. BioLife Solutions had a negative net margin of 11.81% and a negative return on equity of 0.66%. Analysts anticipate that BioLife Solutions, Inc. will post -0.3 earnings per share for the current year.

Insider Transactions at BioLife Solutions

In other BioLife Solutions news, major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $23.80, for a total transaction of $23,800,000.00. Following the sale, the insider directly owned 7,707,165 shares of the company's stock, valued at approximately $183,430,527. This represents a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 1,008,831 shares of company stock worth $23,999,658 over the last 90 days. Corporate insiders own 2.20% of the company's stock.

Analysts Set New Price Targets

BLFS has been the topic of a number of analyst reports. Stephens initiated coverage on shares of BioLife Solutions in a research report on Tuesday, July 22nd. They issued an "overweight" rating and a $30.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price target on shares of BioLife Solutions in a research note on Tuesday, May 13th. Finally, Wall Street Zen downgraded BioLife Solutions from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

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.