Mutual of America Capital Management LLC Purchases Shares of 400,916 BioLife Solutions, Inc. (NASDAQ:BLFS)

Mutual of America Capital Management LLC purchased a new stake in BioLife Solutions, Inc. (NASDAQ:BLFS) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 400,916 shares of the medical equipment provider’s stock, valued at approximately $8,592,000. Mutual of America Capital Management LLC owned about 0.87% of BioLife Solutions at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new stake in BioLife Solutions in the 2nd quarter valued at about $35,000. Register Financial Advisors LLC purchased a new stake in BioLife Solutions during the first quarter valued at about $96,000. Arizona State Retirement System purchased a new stake in BioLife Solutions during the second quarter valued at about $217,000. Legato Capital Management LLC purchased a new stake in BioLife Solutions during the second quarter valued at about $233,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in BioLife Solutions during the first quarter valued at about $229,000. 93.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Sarah Aebersold sold 3,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $21.03, for a total value of $63,090.00. Following the transaction, the insider now owns 61,683 shares in the company, valued at $1,297,193.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.12, for a total transaction of $77,118.40. Following the transaction, the executive now owns 114,773 shares in the company, valued at $2,883,097.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sarah Aebersold sold 3,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $21.03, for a total value of $63,090.00. Following the transaction, the insider now owns 61,683 shares in the company, valued at approximately $1,297,193.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,944 shares of company stock worth $229,709. Insiders own 2.20% of the company’s stock.

BioLife Solutions Price Performance

Shares of BLFS opened at $23.72 on Thursday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -16.70 and a beta of 1.87. BioLife Solutions, Inc. has a fifty-two week low of $8.92 and a fifty-two week high of $26.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.86 and a quick ratio of 1.81. The business’s 50-day moving average is $23.89 and its 200-day moving average is $20.81.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The company had revenue of $28.33 million for the quarter, compared to the consensus estimate of $23.80 million. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. Equities research analysts expect that BioLife Solutions, Inc. will post -0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on BLFS shares. TD Cowen upped their price objective on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Northland Securities upped their price objective on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, Craig Hallum upped their price objective on shares of BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.20.

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.