GAMMA Investing LLC Has $2.20 Million Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

GAMMA Investing LLC grew its holdings in BioLife Solutions, Inc. (NASDAQ:BLFS) by 2,609.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 96,453 shares of the medical equipment provider’s stock after purchasing an additional 92,893 shares during the quarter. GAMMA Investing LLC owned about 0.21% of BioLife Solutions worth $2,203,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new stake in BioLife Solutions during the fourth quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in BioLife Solutions during the fourth quarter worth about $31,000. 1620 Investment Advisors Inc. grew its position in BioLife Solutions by 41.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider’s stock worth $60,000 after buying an additional 675 shares in the last quarter. Smartleaf Asset Management LLC grew its position in BioLife Solutions by 27.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,469 shares of the medical equipment provider’s stock worth $117,000 after buying an additional 950 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in BioLife Solutions during the fourth quarter worth about $171,000. 93.24% of the stock is owned by institutional investors and hedge funds.

BioLife Solutions Stock Performance

NASDAQ:BLFS opened at $22.03 on Friday. BioLife Solutions, Inc. has a 1 year low of $18.70 and a 1 year high of $29.55. The firm has a 50 day moving average of $22.72 and a 200-day moving average of $24.97. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.05 billion, a P/E ratio of -20.78 and a beta of 1.82.

BioLife Solutions (NASDAQ:BLFS) last posted its earnings results on Thursday, May 8th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. BioLife Solutions had a negative net margin of 38.98% and a negative return on equity of 6.61%. The company had revenue of $23.94 million during the quarter, compared to analysts’ expectations of $22.22 million. As a group, sell-side analysts anticipate that BioLife Solutions, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In other BioLife Solutions news, CFO Troy Wichterman sold 25,687 shares of BioLife Solutions stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $22.66, for a total transaction of $582,067.42. Following the completion of the sale, the chief financial officer now owns 189,242 shares of the company’s stock, valued at approximately $4,288,223.72. The trade was a 11.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares of BioLife Solutions stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $23.80, for a total transaction of $23,800,000.00. Following the sale, the insider now directly owns 7,707,165 shares of the company’s stock, valued at $183,430,527. This represents a 11.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,060,369 shares of company stock worth $25,172,626 in the last quarter. Insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on BLFS. Wall Street Zen cut shares of BioLife Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of BioLife Solutions in a research note on Tuesday, May 13th. One research 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, BioLife Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $31.17.

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.