Insider Selling: BioLife Solutions (NASDAQ:BLFS) Major Shareholder Sells 650,000 Shares of Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) major shareholder Casdin Partners Master Fund, L sold 650,000 shares of BioLife Solutions stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $23.70, for a total value of $15,405,000.00. Following the sale, the insider owned 4,757,165 shares in the company, valued at $112,744,810.50. This trade represents a 12.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Casdin Partners Master Fund, L also recently made the following trade(s):

• On Wednesday, May 20th, Casdin Partners Master Fund, L sold 250,000 shares of BioLife Solutions stock. The stock was sold at an average price of $23.70, for a total value of $5,925,000.00.
• On Tuesday, May 19th, Casdin Partners Master Fund, L sold 300,000 shares of BioLife Solutions stock. The stock was sold at an average price of $22.65, for a total value of $6,795,000.00.

BioLife Solutions Stock Performance

NASDAQ:BLFS traded up $0.74 during trading hours on Thursday, reaching $24.74. The stock had a trading volume of 1,074,792 shares, compared to its average volume of 468,051. The stock has a 50 day simple moving average of $20.58 and a 200 day simple moving average of $22.94. BioLife Solutions, Inc. has a 12-month low of $17.86 and a 12-month high of $29.62. The stock has a market cap of $1.21 billion, a P/E ratio of -309.21 and a beta of 1.97.

BioLife Solutions (NASDAQ:BLFS) last released its earnings results on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. BioLife Solutions had a positive return on equity of 1.81% and a negative net margin of 2.80%.The business had revenue of $27.50 million during the quarter, compared to the consensus estimate of $25.66 million. On average, equities analysts expect that BioLife Solutions, Inc. will post 0.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BLFS shares. Zacks Research downgraded BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of BioLife Solutions in a research report on Monday, April 20th. Finally, Wall Street Zen raised BioLife Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.00.

Hedge Funds Weigh In On BioLife Solutions

Hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new position in shares of BioLife Solutions in the fourth quarter valued at $30,000. Kemnay Advisory Services Inc. purchased a new position in shares of BioLife Solutions in the fourth quarter valued at $35,000. Hantz Financial Services Inc. grew its position in shares of BioLife Solutions by 54.1% in the third quarter. Hantz Financial Services Inc. now owns 1,877 shares of the medical equipment provider’s stock valued at $48,000 after purchasing an additional 659 shares in the last quarter. State of Wyoming purchased a new position in shares of BioLife Solutions in the first quarter valued at $52,000. Finally, Quarry LP grew its position in shares of BioLife Solutions by 50.9% in the third quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock valued at $54,000 after purchasing an additional 713 shares in the last quarter. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

BioLife Solutions Company Profile

BioLife Solutions (NASDAQ:BLFS) specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife’s product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company’s flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.