Summit Creek Advisors LLC Acquires New Position in BioLife Solutions, Inc. $BLFS

Key Points

• Summit Creek Advisors acquired 180,544 BioLife Solutions shares worth approximately $5.1 million, giving it a 0.37% stake and making BLFS 1.7% of its portfolio. Institutional investors and hedge funds collectively own 93.24% of the company.
• Analyst sentiment remains mixed, with BLFS carrying an average “Hold” rating and a consensus price target of $31.38. Ratings range from “Strong Buy” to “Sell,” while William Blair set a $31.00 target.
• BioLife Solutions reported quarterly EPS of $0.91, far exceeding the $0.03 consensus estimate, while revenue reached $28.47 million. The stock opened at $34.94, near its 12-month high of $35.46, although major shareholder Casdin Partners sold 650,000 shares for $15.4 million.

Summit Creek Advisors LLC acquired a new stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 180,544 shares of the medical equipment provider's stock, valued at approximately $5,099,000. BioLife Solutions makes up 1.7% of Summit Creek Advisors LLC's investment portfolio, making the stock its 28th largest position. Summit Creek Advisors LLC owned approximately 0.37% of BioLife Solutions at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BLFS. Jacobs Levy Equity Management Inc. acquired a new stake in shares of BioLife Solutions in the 1st quarter valued at $283,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of BioLife Solutions by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,422 shares of the medical equipment provider's stock worth $489,000 after buying an additional 914 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of BioLife Solutions during the 1st quarter worth $1,091,000. Strs Ohio bought a new stake in shares of BioLife Solutions during the 1st quarter worth $153,000. Finally, Qube Research & Technologies Ltd boosted its stake in BioLife Solutions by 2,399.5% in the second quarter. Qube Research & Technologies Ltd now owns 248,474 shares of the medical equipment provider's stock valued at $5,352,000 after buying an additional 238,533 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLFS has been the subject of several research analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of BioLife Solutions in a research note on Friday, July 17th. Zacks Research raised shares of BioLife Solutions from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Maxim Group cut shares of BioLife Solutions from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Benchmark downgraded shares of BioLife Solutions from a "buy" rating to a "hold" rating in a research note on Monday, August 10th. Finally, William Blair set a $31.00 target price on shares of BioLife Solutions in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, BioLife Solutions currently has an average rating of "Hold" and an average price target of $31.38.

Insider Transactions at BioLife Solutions

In other BioLife Solutions news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $23.70, for a total value of $15,405,000.00. Following the completion of the transaction, the insider directly owned 4,757,165 shares in the company, valued at approximately $112,744,810.50. This represents a 12.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.20% of the company's stock.

BioLife Solutions Stock Down 1.4%

Shares of BLFS opened at $34.94 on Wednesday. BioLife Solutions, Inc. has a 12-month low of $17.86 and a 12-month high of $35.46. The business has a 50-day simple moving average of $29.72 and a two-hundred day simple moving average of $24.57. The stock has a market cap of $1.71 billion, a PE ratio of 30.12 and a beta of 1.93.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.88. BioLife Solutions had a return on equity of 2.70% and a net margin of 53.29%.The firm had revenue of $28.47 million for the quarter, compared to analyst estimates of $27.80 million. On average, equities research analysts expect that BioLife Solutions, Inc. will post 0.03 EPS for the current year.

BioLife Solutions Company Profile

BioLife Solutions NASDAQ: BLFS specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife's product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company's flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.

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