Allspring Global Investments Holdings LLC Trims Stock Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

Allspring Global Investments Holdings LLC decreased its position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 17.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,114 shares of the medical equipment provider’s stock after selling 22,963 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.24% of BioLife Solutions worth $2,782,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its position in BioLife Solutions by 4.0% during the second quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the medical equipment provider’s stock valued at $392,000 after buying an additional 700 shares during the period. GAMMA Investing LLC boosted its stake in shares of BioLife Solutions by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after acquiring an additional 748 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of BioLife Solutions by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock valued at $296,000 after acquiring an additional 753 shares during the period. Sei Investments Co. increased its stake in shares of BioLife Solutions by 1.4% in the 1st quarter. Sei Investments Co. now owns 60,191 shares of the medical equipment provider’s stock valued at $1,117,000 after purchasing an additional 839 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in BioLife Solutions by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,129 shares of the medical equipment provider’s stock worth $281,000 after purchasing an additional 1,374 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.12, for a total transaction of $77,118.40. Following the sale, the executive now directly owns 114,773 shares in the company, valued at approximately $2,883,097.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $23.28, for a total value of $232,800.00. Following the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, the executive now directly owns 114,773 shares in the company, valued at approximately $2,883,097.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,089 shares of company stock valued at $599,847 over the last quarter. Company insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on BLFS shares. TD Cowen raised their price objective on BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Craig Hallum lifted their target price on shares of BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. HC Wainwright started coverage on BioLife Solutions in a report on Monday, September 30th. They set a “buy” rating and a $29.00 price target on the stock. Finally, 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 report on Friday, August 9th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

BioLife Solutions Stock Performance

NASDAQ:BLFS opened at $23.59 on Wednesday. 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 firm has a market cap of $1.09 billion, a price-to-earnings ratio of -16.61 and a beta of 1.88. The firm’s fifty day moving average price is $24.12 and its 200 day moving average price is $22.08. BioLife Solutions, Inc. has a 1-year low of $8.92 and a 1-year high of $26.73.

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

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.