Public Sector Pension Investment Board Raises Holdings in BioLife Solutions, Inc. (NASDAQ:BLFS)

Public Sector Pension Investment Board lifted its holdings in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 11.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,987 shares of the medical equipment provider’s stock after purchasing an additional 7,902 shares during the period. Public Sector Pension Investment Board’s holdings in BioLife Solutions were worth $1,714,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Conestoga Capital Advisors LLC increased its stake in shares of BioLife Solutions by 1.0% during the 1st quarter. Conestoga Capital Advisors LLC now owns 65,477 shares of the medical equipment provider’s stock worth $1,215,000 after purchasing an additional 630 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of BioLife Solutions by 4.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the medical equipment provider’s stock worth $392,000 after purchasing an additional 700 shares in the last quarter. Sei Investments Co. increased its stake in shares of BioLife Solutions by 1.4% during the 1st quarter. Sei Investments Co. now owns 60,191 shares of the medical equipment provider’s stock worth $1,117,000 after purchasing an additional 839 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of BioLife Solutions by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,129 shares of the medical equipment provider’s stock worth $281,000 after purchasing an additional 1,374 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in shares of BioLife Solutions by 4.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 31,145 shares of the medical equipment provider’s stock worth $578,000 after purchasing an additional 1,384 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

BioLife Solutions Stock Up 2.9 %

Shares of BLFS opened at $25.04 on Tuesday. The firm has a market cap of $1.15 billion, a PE ratio of -17.63 and a beta of 1.87. The company’s fifty day moving average is $24.51 and its two-hundred day moving average is $21.28. BioLife Solutions, Inc. has a fifty-two week low of $8.92 and a fifty-two 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.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The company 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 forecast that BioLife Solutions, Inc. will post -0.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. HC Wainwright started coverage on shares of BioLife Solutions in a research note on Monday. They set a “buy” rating and a $29.00 price objective for the company. Craig Hallum lifted their target price on shares of BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. TD Cowen lifted their target price on shares of BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Northland Securities lifted their target price 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. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

Insider Buying and Selling at BioLife Solutions

In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the transaction, the executive now owns 114,773 shares in the company, valued at approximately $2,883,097.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total transaction of $239,000.00. Following the transaction, the executive vice president now owns 317,716 shares in the company, valued at approximately $7,593,412.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.12, for a total transaction of $77,118.40. Following the transaction, the executive now owns 114,773 shares in the company, valued at approximately $2,883,097.76. The disclosure for this sale can be found here. Insiders have sold a total of 16,944 shares of company stock worth $405,619 in the last quarter. 2.20% of the stock is owned by insiders.

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.