BioLife Solutions, Inc. (NASDAQ:BLFS) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 18.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 198,695 shares of the medical equipment provider’s stock after acquiring an additional 31,167 shares during the period. Envestnet Asset Management Inc. owned 0.43% of BioLife Solutions worth $5,158,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new position in BioLife Solutions in the 4th quarter worth about $26,000. 1620 Investment Advisors Inc. increased its position in BioLife Solutions by 41.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider’s stock valued at $60,000 after acquiring an additional 675 shares during the period. Smartleaf Asset Management LLC raised its stake in BioLife Solutions by 27.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,469 shares of the medical equipment provider’s stock valued at $117,000 after acquiring an additional 950 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in BioLife Solutions during the 4th quarter worth $171,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of BioLife Solutions in the fourth quarter worth $201,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

Wall Street Analyst Weigh In

BLFS has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of BioLife Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, April 8th. HC Wainwright boosted their target price on BioLife Solutions from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, Northland Securities increased their price target on BioLife Solutions from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, BioLife Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $31.17.

BioLife Solutions Stock Performance

Shares of BLFS opened at $21.89 on Wednesday. The company has a 50-day moving average of $24.41 and a two-hundred day moving average of $25.22. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -20.65 and a beta of 1.93. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. BioLife Solutions, Inc. has a one year low of $16.10 and a one year high of $29.55.

BioLife Solutions (NASDAQ:BLFS) last released its earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.32. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. The company had revenue of $22.71 million during the quarter, compared to analyst estimates of $21.73 million. During the same quarter in the prior year, the company earned ($0.21) earnings per share. On average, equities research analysts expect that BioLife Solutions, Inc. will post -0.3 earnings per share for the current year.

Insider Transactions at BioLife Solutions

In related news, CMO Todd Berard sold 1,577 shares of BioLife Solutions stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total transaction of $39,425.00. Following the completion of the sale, the chief marketing officer now owns 104,961 shares of the company’s stock, valued at approximately $2,624,025. This trade represents a 1.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Troy Wichterman sold 4,151 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total value of $103,775.00. Following the completion of the transaction, the chief financial officer now owns 116,809 shares in the company, valued at $2,920,225. This trade represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,127 shares of company stock valued at $1,676,533 over the last three months. 2.20% of the stock is owned by corporate 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.