Allspring Global Investments Holdings LLC Has $2.43 Million Holdings in BioLife Solutions, Inc. (NASDAQ:BLFS)

Allspring Global Investments Holdings LLC raised its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 161,879.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 131,203 shares of the medical equipment provider’s stock after purchasing an additional 131,122 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.29% of BioLife Solutions worth $2,434,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLFS. Goldman Sachs Group Inc. boosted its holdings in BioLife Solutions by 1,038.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock worth $39,031,000 after acquiring an additional 2,191,002 shares during the last quarter. Granahan Investment Management LLC boosted its holdings in BioLife Solutions by 22.8% during the fourth quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock worth $21,006,000 after purchasing an additional 240,001 shares during the last quarter. Invesco Ltd. grew its position in BioLife Solutions by 6.5% in the 3rd quarter. Invesco Ltd. now owns 1,052,065 shares of the medical equipment provider’s stock worth $14,529,000 after purchasing an additional 64,475 shares in the last quarter. Ranger Investment Management L.P. lifted its position in shares of BioLife Solutions by 6.7% during the 4th quarter. Ranger Investment Management L.P. now owns 363,574 shares of the medical equipment provider’s stock worth $5,908,000 after buying an additional 22,906 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of BioLife Solutions by 6.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 281,998 shares of the medical equipment provider’s stock worth $3,894,000 after buying an additional 16,754 shares during the last quarter. 93.24% of the stock is owned by institutional investors.

BioLife Solutions Trading Down 2.7 %

Shares of BioLife Solutions stock opened at $20.23 on Wednesday. The stock has a market capitalization of $932.00 million, a P/E ratio of -14.25 and a beta of 1.85. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.77 and a current ratio of 2.89. The stock’s 50-day simple moving average is $20.39 and its 200 day simple moving average is $18.33. BioLife Solutions, Inc. has a 52-week low of $8.92 and a 52-week high of $23.85.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings results on Thursday, May 9th. The medical equipment provider reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.06. BioLife Solutions had a negative return on equity of 12.89% and a negative net margin of 45.84%. The firm had revenue of $31.73 million during the quarter, compared to analyst estimates of $29.30 million. During the same period last year, the company earned ($0.27) earnings per share. As a group, research analysts anticipate that BioLife Solutions, Inc. will post -0.44 EPS for the current year.

Insider Buying and Selling

In other news, CMO Todd Berard sold 10,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $20.18, for a total transaction of $201,800.00. Following the completion of the transaction, the chief marketing officer now directly owns 108,894 shares in the company, valued at approximately $2,197,480.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 24,845 shares of company stock valued at $447,644. Company insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Benchmark upgraded BioLife Solutions from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Monday, May 13th. Jefferies Financial Group initiated coverage on shares of BioLife Solutions in a report on Thursday, April 4th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, StockNews.com upgraded shares of BioLife Solutions to a “sell” rating in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.67.

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.