Insider Selling: BioLife Solutions (NASDAQ:BLFS) Major Shareholder Sells 750,000 Shares of Stock

Key Points

• Casdin Partners Master Fund, a major shareholder of BioLife Solutions, sold 750,000 shares at an average price of $28.55, amounting to a total value of $21.4 million, which represents an 11.18% decrease in their position.
• BioLife Solutions experienced a 1.5% decline in stock price, trading at $27.32, and currently has a market capitalization of $1.31 billion.
• The company's most recent earnings report indicated a loss of ($0.33) earnings per share, missing analysts' expectations significantly, though it reported revenue exceeding expectations at $25.42 million.

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) major shareholder Casdin Partners Master Fund, L sold 750,000 shares of the company's stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $28.55, for a total value of $21,412,500.00. Following the completion of the transaction, the insider directly owned 5,957,165 shares of the company's stock, valued at approximately $170,077,060.75. This trade represents a 11.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Casdin Partners Master Fund, L also recently made the following trade(s):

• On Friday, August 15th, Casdin Partners Master Fund, L sold 500,000 shares of BioLife Solutions stock. The shares were sold at an average price of $24.40, for a total value of $12,200,000.00.
• On Monday, August 11th, Casdin Partners Master Fund, L sold 500,000 shares of BioLife Solutions stock. The shares were sold at an average price of $22.60, for a total transaction of $11,300,000.00.

BioLife Solutions Stock Down 1.5%

NASDAQ:BLFS traded down $0.41 during mid-day trading on Friday, hitting $27.32. 264,285 shares of the stock traded hands, compared to its average volume of 410,019. The firm's 50 day moving average is $25.74 and its two-hundred day moving average is $23.46. BioLife Solutions, Inc. has a 52 week low of $19.10 and a 52 week high of $29.55. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -227.65 and a beta of 1.95.

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 business had revenue of $25.42 million during the quarter, compared to analysts' expectations of $23.71 million. BioLife Solutions has set its FY 2025 guidance at EPS. As a group, research analysts predict that BioLife Solutions, Inc. will post -0.3 EPS for the current year.

Analyst Upgrades and Downgrades

BLFS has been the subject of several analyst reports. Stephens assumed coverage on BioLife Solutions in a report on Tuesday, July 22nd. They issued an "overweight" rating and a $30.00 price objective for the company. Zacks Research cut BioLife Solutions from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 7th. HC Wainwright restated a "buy" rating and issued a $32.00 price target (up from $30.00) on shares of BioLife Solutions in a research report on Friday, August 8th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of BioLife Solutions in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, BioLife Solutions presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.29.

Institutional Investors Weigh In On BioLife Solutions

A number of institutional investors have recently added to or reduced their stakes in the business. State of Wyoming raised its position in shares of 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 purchasing an additional 1,490 shares during the last quarter. US Bancorp DE grew its stake in shares of BioLife Solutions by 243.7% during the first quarter. US Bancorp DE now owns 2,155 shares of the medical equipment provider's stock valued at $49,000 after acquiring an additional 1,528 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in BioLife Solutions by 12.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,873 shares of the medical equipment provider's stock worth $83,000 after purchasing an additional 441 shares in the last quarter. GAMMA Investing LLC grew its stake in BioLife Solutions by 18.6% in the first quarter. GAMMA Investing LLC now owns 4,223 shares of the medical equipment provider's stock worth $96,000 after purchasing an additional 663 shares in the last quarter. Finally, Strs Ohio bought a new position in BioLife Solutions in the first quarter worth about $153,000. Hedge funds and other institutional investors own 93.24% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.