Rhumbline Advisers Boosts Stock Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

Rhumbline Advisers grew its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 4.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,473 shares of the medical equipment provider’s stock after buying an additional 3,912 shares during the period. Rhumbline Advisers owned 0.19% of BioLife Solutions worth $1,875,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. 1620 Investment Advisors Inc. purchased a new position in shares of BioLife Solutions during the 2nd quarter valued at about $35,000. Register Financial Advisors LLC purchased a new position in shares of BioLife Solutions during the 1st quarter valued at about $96,000. State Board of Administration of Florida Retirement System purchased a new position in shares of BioLife Solutions during the 1st quarter valued at about $229,000. Legato Capital Management LLC purchased a new position in shares of BioLife Solutions during the 2nd quarter valued at about $233,000. Finally, Price T Rowe Associates Inc. MD lifted 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 in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BioLife Solutions

In related news, insider Sarah Aebersold sold 3,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $21.03, for a total transaction of $63,090.00. Following the sale, the insider now owns 61,683 shares in the company, valued at approximately $1,297,193.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the stock in a transaction 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 sale, the executive now owns 114,773 shares in the company, valued at $2,883,097.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sarah Aebersold sold 3,000 shares of the stock in a transaction 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 completion of the sale, 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. In the last 90 days, insiders have sold 19,944 shares of company stock worth $468,709. Company insiders own 2.20% of the company’s stock.

BioLife Solutions Stock Up 0.2 %

Shares of BLFS opened at $25.77 on Friday. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -18.15 and a beta of 1.87. BioLife Solutions, Inc. has a 1 year low of $8.92 and a 1 year high of $26.73. The business’s 50 day simple moving average is $24.17 and its 200-day simple moving average is $20.91. 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 quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $23.80 million. As a group, equities analysts expect that BioLife Solutions, Inc. will post -0.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

BioLife Solutions Company 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.