BioLife Solutions, Inc. $BLFS Shares Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. lifted its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 12.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 897,421 shares of the medical equipment provider’s stock after purchasing an additional 101,423 shares during the quarter. Raymond James Financial Inc. owned about 1.89% of BioLife Solutions worth $20,497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sei Investments Co. grew its stake in shares of BioLife Solutions by 0.5% during the 1st quarter. Sei Investments Co. now owns 117,999 shares of the medical equipment provider’s stock worth $2,695,000 after purchasing an additional 547 shares during the period. Rhumbline Advisers grew its stake in shares of BioLife Solutions by 0.7% during the 1st quarter. Rhumbline Advisers now owns 83,227 shares of the medical equipment provider’s stock worth $1,901,000 after purchasing an additional 566 shares during the period. GAMMA Investing LLC boosted its position in shares of BioLife Solutions by 18.6% in the 1st quarter. GAMMA Investing LLC now owns 4,223 shares of the medical equipment provider’s stock worth $96,000 after buying an additional 663 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of BioLife Solutions by 5.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,508 shares of the medical equipment provider’s stock worth $532,000 after buying an additional 1,047 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of BioLife Solutions in the 4th quarter worth about $31,000. 93.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of BioLife Solutions from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Stephens assumed coverage on shares of BioLife Solutions in a research report on Tuesday, July 22nd. They issued an “overweight” rating and a $30.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of BioLife Solutions in a research report on Friday, August 8th. Finally, Zacks Research upgraded shares of BioLife Solutions to a “strong-buy” rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $31.29.

Insider Buying and Selling at BioLife Solutions

In other news, major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $23.80, for a total transaction of $23,800,000.00. Following the transaction, the insider directly owned 7,707,165 shares in the company, valued at $183,430,527. This represents a 11.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 2,006,802 shares of company stock worth $47,454,087. Corporate insiders own 2.20% of the company’s stock.

BioLife Solutions Price Performance

BioLife Solutions stock opened at $25.65 on Wednesday. BioLife Solutions, Inc. has a 12-month low of $19.10 and a 12-month high of $29.55. The stock has a market capitalization of $1.23 billion, a P/E ratio of -213.73 and a beta of 1.76. The firm’s 50-day moving average is $22.47 and its two-hundred day moving average is $23.38.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.31). BioLife Solutions had a positive return on equity of 0.16% and a negative net margin of 5.39%.The firm had revenue of $25.42 million for the quarter, compared to analyst estimates of $23.71 million. BioLife Solutions has set its FY 2025 guidance at EPS. As a group, analysts forecast that BioLife Solutions, Inc. will post -0.3 EPS for the current year.

About BioLife Solutions

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.