BioLife Solutions, Inc. (NASDAQ:BLFS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 17.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 111,114 shares of the medical equipment provider’s stock after selling 22,963 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in BioLife Solutions were worth $2,782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BLFS. Vanguard Group Inc. boosted its position in shares of BioLife Solutions by 11.5% in the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock worth $53,208,000 after acquiring an additional 296,727 shares during the last quarter. William Blair Investment Management LLC raised its stake in BioLife Solutions by 0.8% during the first quarter. William Blair Investment Management LLC now owns 1,726,712 shares of the medical equipment provider’s stock worth $32,031,000 after purchasing an additional 13,785 shares during the period. Fred Alger Management LLC boosted its holdings in shares of BioLife Solutions by 6.0% in the 2nd quarter. Fred Alger Management LLC now owns 1,579,138 shares of the medical equipment provider’s stock valued at $33,841,000 after purchasing an additional 88,840 shares during the last quarter. Geneva Capital Management LLC grew its stake in shares of BioLife Solutions by 0.7% during the 1st quarter. Geneva Capital Management LLC now owns 880,215 shares of the medical equipment provider’s stock valued at $16,328,000 after buying an additional 5,730 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of BioLife Solutions by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 794,971 shares of the medical equipment provider’s stock worth $17,034,000 after buying an additional 66,422 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

BioLife Solutions Trading Up 3.2 %

BLFS opened at $23.59 on Wednesday. The firm’s 50 day moving average is $24.12 and its 200-day moving average is $22.08. BioLife Solutions, Inc. has a 52-week low of $8.92 and a 52-week high of $26.73. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.09 billion, a P/E ratio of -16.61 and a beta of 1.88.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $28.33 million for the quarter, compared to analyst estimates of $23.80 million. BioLife Solutions had a negative net margin of 59.88% and a negative return on equity of 10.75%. Analysts expect that BioLife Solutions, Inc. will post -0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BLFS shares. Craig Hallum boosted their price target on BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, August 12th. TD Cowen raised their price target on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Northland Securities boosted their price objective on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, HC Wainwright assumed coverage on shares of BioLife Solutions in a research note on Monday, September 30th. They issued a “buy” rating and a $29.00 target price on the stock. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.67.

Insider Activity at BioLife Solutions

In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.12, for a total transaction of $77,118.40. Following the sale, the executive now directly owns 114,773 shares in the company, valued at $2,883,097.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CRO Garrie Richardson sold 3,070 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the completion of the sale, the executive now owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total transaction of $239,000.00. Following the transaction, the executive vice president now directly owns 317,716 shares in the company, valued at $7,593,412.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,089 shares of company stock valued at $599,847. Insiders own 2.20% of the company’s stock.

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.