Insider Selling: BioLife Solutions (NASDAQ:BLFS) Major Shareholder Sells 300,000 Shares of Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) major shareholder Casdin Partners Master Fund, L sold 300,000 shares of BioLife Solutions stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $22.65, for a total transaction of $6,795,000.00. Following the completion of the sale, the insider owned 5,657,165 shares of the company’s stock, valued at $128,134,787.25. This trade represents a 5.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, May 21st, Casdin Partners Master Fund, L sold 650,000 shares of BioLife Solutions stock. The shares were sold at an average price of $23.70, for a total transaction of $15,405,000.00.
• On Wednesday, May 20th, Casdin Partners Master Fund, L sold 250,000 shares of BioLife Solutions stock. The shares were sold at an average price of $23.70, for a total transaction of $5,925,000.00.

BioLife Solutions Trading Up 3.1%

BioLife Solutions stock traded up $0.74 during trading on Thursday, hitting $24.74. The company had a trading volume of 1,074,792 shares, compared to its average volume of 468,051. BioLife Solutions, Inc. has a 1-year low of $17.86 and a 1-year high of $29.62. The company’s 50 day simple moving average is $20.58 and its 200-day simple moving average is $22.94. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -309.21 and a beta of 1.97.

BioLife Solutions (NASDAQ:BLFS) last posted its earnings results on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. BioLife Solutions had a negative net margin of 2.80% and a positive return on equity of 1.81%. The firm had revenue of $27.50 million during the quarter, compared to the consensus estimate of $25.66 million. As a group, analysts forecast that BioLife Solutions, Inc. will post 0.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on BLFS shares. Wall Street Zen upgraded shares of BioLife Solutions from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BioLife Solutions in a report on Monday, April 20th. Finally, Zacks Research cut shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, BioLife Solutions presently has an average rating of “Hold” and an average price target of $32.00.

Hedge Funds Weigh In On BioLife Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC purchased a new position in BioLife Solutions in the 4th quarter valued at approximately $30,000. Kemnay Advisory Services Inc. purchased a new position in BioLife Solutions in the 4th quarter valued at approximately $35,000. Hantz Financial Services Inc. boosted its position in BioLife Solutions by 54.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,877 shares of the medical equipment provider’s stock valued at $48,000 after buying an additional 659 shares during the period. Quarry LP lifted its position in shares of BioLife Solutions by 50.9% during the 3rd quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock worth $54,000 after purchasing an additional 713 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of BioLife Solutions during the 1st quarter worth $52,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.