Cerity Partners LLC Acquires New Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

Cerity Partners LLC acquired a new stake in BioLife Solutions, Inc. (NASDAQ:BLFS) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 26,941 shares of the medical equipment provider’s stock, valued at approximately $438,000.

Other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its stake in shares of BioLife Solutions by 167.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 1,020 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in BioLife Solutions by 88.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 11,346 shares of the medical equipment provider’s stock valued at $157,000 after purchasing an additional 5,324 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in BioLife Solutions by 8.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,622 shares of the medical equipment provider’s stock valued at $216,000 after purchasing an additional 1,164 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in BioLife Solutions in the third quarter valued at $223,000. Finally, Illinois Municipal Retirement Fund bought a new stake in BioLife Solutions in the third quarter valued at $270,000. 93.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group initiated coverage on shares of BioLife Solutions in a research report on Thursday, April 4th. They set a “buy” rating and a $22.00 target price for the company. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.40.

BioLife Solutions Trading Down 1.9 %

NASDAQ:BLFS opened at $16.86 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.86 and a quick ratio of 1.83. The firm has a 50-day moving average of $17.38 and a 200-day moving average of $15.42. The company has a market cap of $763.76 million, a PE ratio of -10.85 and a beta of 1.67. BioLife Solutions, Inc. has a one year low of $8.92 and a one year high of $24.50.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings data on Thursday, February 29th. The medical equipment provider reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. BioLife Solutions had a negative net margin of 46.37% and a negative return on equity of 13.36%. The business had revenue of $32.73 million during the quarter, compared to the consensus estimate of $32.70 million. As a group, equities research analysts expect that BioLife Solutions, Inc. will post -0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other BioLife Solutions news, insider Sarah Aebersold sold 4,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $17.65, for a total value of $70,600.00. Following the completion of the sale, the insider now directly owns 65,843 shares of the company’s stock, valued at approximately $1,162,128.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CMO Todd Berard sold 10,000 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $15.67, for a total transaction of $156,700.00. Following the transaction, the chief marketing officer now owns 129,644 shares of the company’s stock, valued at approximately $2,031,521.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sarah Aebersold sold 4,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $17.65, for a total transaction of $70,600.00. Following the transaction, the insider now directly owns 65,843 shares in the company, valued at approximately $1,162,128.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,996 shares of company stock valued at $562,145. Corporate insiders own 2.70% of the company’s stock.

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.