6,927 Shares in BioLife Solutions, Inc. $BLFS Acquired by AlphaQuest LLC

AlphaQuest LLC purchased a new position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,927 shares of the medical equipment provider’s stock, valued at approximately $149,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BLFS. GAMMA Investing LLC lifted its position in shares of BioLife Solutions by 18.6% during the first quarter. GAMMA Investing LLC now owns 4,223 shares of the medical equipment provider’s stock worth $96,000 after purchasing an additional 663 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of BioLife Solutions by 6.2% during the first quarter. Principal Financial Group Inc. now owns 259,488 shares of the medical equipment provider’s stock worth $5,927,000 after purchasing an additional 15,241 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in BioLife Solutions by 37.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 273,329 shares of the medical equipment provider’s stock valued at $6,243,000 after buying an additional 74,634 shares in the last quarter. Cerity Partners LLC lifted its holdings in BioLife Solutions by 22.8% during the 1st quarter. Cerity Partners LLC now owns 48,603 shares of the medical equipment provider’s stock valued at $1,110,000 after buying an additional 9,015 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in BioLife Solutions by 14.3% during the 1st quarter. New York State Common Retirement Fund now owns 297,448 shares of the medical equipment provider’s stock valued at $6,794,000 after buying an additional 37,133 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BLFS shares. Stephens started coverage on shares of BioLife Solutions in a report on Tuesday, July 22nd. They set an “overweight” rating and a $30.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of BioLife Solutions in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioLife Solutions in a research report on Wednesday, October 8th. Finally, Zacks Research lowered BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BioLife Solutions has an average rating of “Moderate Buy” and an average price target of $31.29.

Insider Activity

In related news, CFO Troy Wichterman sold 1,032 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $26.83, for a total transaction of $27,688.56. Following the sale, the chief financial officer owned 184,186 shares in the company, valued at approximately $4,941,710.38. This trade represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Todd Berard sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $25.53, for a total value of $255,300.00. Following the completion of the sale, the chief marketing officer directly owned 124,618 shares in the company, valued at approximately $3,181,497.54. The trade was a 7.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,807,742 shares of company stock valued at $46,467,584 over the last 90 days. Company insiders own 2.20% of the company’s stock.

BioLife Solutions Stock Performance

Shares of BLFS stock opened at $27.87 on Tuesday. The business’s fifty day simple moving average is $26.42 and its 200-day simple moving average is $23.95. BioLife Solutions, Inc. has a 12-month low of $19.10 and a 12-month high of $29.62. The company has a market cap of $1.34 billion, a PE ratio of -232.23 and a beta of 1.95.

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