SG Americas Securities LLC Acquires New Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

SG Americas Securities LLC acquired a new stake in BioLife Solutions, Inc. (NASDAQ:BLFS) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 16,988 shares of the medical equipment provider’s stock, valued at approximately $425,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new stake in BioLife Solutions in the 2nd quarter valued at about $35,000. Register Financial Advisors LLC purchased a new position in BioLife Solutions during the 1st quarter valued at about $96,000. Canada Pension Plan Investment Board purchased a new position in BioLife Solutions during the 2nd quarter valued at about $122,000. Arizona State Retirement System purchased a new position in BioLife Solutions during the 2nd quarter valued at about $217,000. Finally, Marshall Wace LLP purchased a new position in BioLife Solutions during the 2nd quarter valued at about $229,000. 93.24% of the stock is currently owned by institutional investors.

BioLife Solutions Stock Performance

NASDAQ:BLFS opened at $23.14 on Friday. The business has a 50 day moving average of $24.64 and a 200 day moving average of $21.72. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -16.30 and a beta of 1.88. BioLife Solutions, Inc. has a 1-year low of $8.92 and a 1-year 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.

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

Wall Street Analysts Forecast Growth

BLFS has been the subject of a number of recent analyst reports. HC Wainwright initiated coverage on BioLife Solutions in a report on Monday, September 30th. They set a “buy” rating and a $29.00 target price for the company. Northland Securities lifted their target price on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, August 9th. TD Cowen boosted their price objective on BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Craig Hallum boosted their price objective on BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat, BioLife Solutions currently has an average rating of “Moderate Buy” and an average price target of $26.67.

Insider Buying and Selling at BioLife Solutions

In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the completion of the sale, the executive now owns 114,773 shares in the company, valued at approximately $2,883,097.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $23.28, for a total transaction of $232,800.00. Following the completion of the transaction, the executive vice president now owns 317,716 shares in the company, valued at $7,396,428.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the transaction, the executive now owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,089 shares of company stock worth $599,847. 2.20% of the stock is currently owned by insiders.

BioLife Solutions Profile

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.