BioLife Solutions, Inc. $BLFS Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 10.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,096 shares of the medical equipment provider’s stock after purchasing an additional 2,048 shares during the quarter. State of Alaska Department of Revenue’s holdings in BioLife Solutions were worth $475,000 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 BLFS. GAMMA Investing LLC grew its stake in BioLife Solutions by 18.6% in the 1st quarter. GAMMA Investing LLC now owns 4,223 shares of the medical equipment provider’s stock valued at $96,000 after acquiring an additional 663 shares during the last quarter. SG Americas Securities LLC grew its stake in BioLife Solutions by 21.6% in the 1st quarter. SG Americas Securities LLC now owns 19,136 shares of the medical equipment provider’s stock valued at $437,000 after acquiring an additional 3,405 shares during the last quarter. Rhumbline Advisers grew its stake in BioLife Solutions by 0.7% in the 1st quarter. Rhumbline Advisers now owns 83,227 shares of the medical equipment provider’s stock valued at $1,901,000 after acquiring an additional 566 shares during the last quarter. Principal Financial Group Inc. grew its stake in BioLife Solutions by 6.2% in the 1st quarter. Principal Financial Group Inc. now owns 259,488 shares of the medical equipment provider’s stock valued at $5,927,000 after acquiring an additional 15,241 shares during the last quarter. Finally, Comerica Bank grew its stake in BioLife Solutions by 5.2% in the 1st quarter. Comerica Bank now owns 15,024 shares of the medical equipment provider’s stock valued at $343,000 after acquiring an additional 746 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BLFS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of BioLife Solutions in a research note on Wednesday. HC Wainwright reissued a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of BioLife Solutions in a research note on Friday, August 8th. Zacks Research raised shares of BioLife Solutions to a “strong-buy” rating in a research note on Monday, August 11th. Finally, Stephens started coverage on shares of BioLife Solutions in a research note on Tuesday, July 22nd. They issued an “overweight” rating and a $30.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.29.

Insider Transactions at BioLife Solutions

In related news, CMO Todd Berard sold 10,000 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $25.53, for a total transaction of $255,300.00. Following the completion of the sale, the chief marketing officer owned 124,618 shares of the company’s stock, valued at approximately $3,181,497.54. This represents a 7.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Casdin Partners Master Fund, L sold 500,000 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $24.40, for a total transaction of $12,200,000.00. Following the sale, the insider directly owned 6,707,165 shares of the company’s stock, valued at approximately $163,654,826. This trade represents a 6.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,016,883 shares of company stock worth $23,929,762 in the last three months. Company insiders own 2.20% of the company’s stock.

BioLife Solutions Price Performance

Shares of BLFS stock opened at $27.34 on Thursday. The firm has a market cap of $1.31 billion, a P/E ratio of -227.81 and a beta of 1.95. BioLife Solutions, Inc. has a 1-year low of $19.10 and a 1-year high of $29.55. The firm’s 50-day simple moving average is $24.83 and its 200-day simple moving average is $23.34.

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