Louisiana State Employees Retirement System Reduces Stock Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

Louisiana State Employees Retirement System lowered its position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 4.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,400 shares of the medical equipment provider’s stock after selling 900 shares during the period. Louisiana State Employees Retirement System’s holdings in BioLife Solutions were worth $436,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new stake in BioLife Solutions during the second quarter valued at $35,000. Isthmus Partners LLC boosted its position in shares of BioLife Solutions by 34.4% during the 2nd quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 42,265 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of BioLife Solutions by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock valued at $83,000 after acquiring an additional 748 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of BioLife Solutions during the second quarter worth about $122,000. Finally, Arizona State Retirement System bought a new position in shares of BioLife Solutions in the second quarter worth approximately $217,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BioLife Solutions

In other news, CRO Garrie Richardson sold 3,070 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the 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 completion of the sale, the executive now owns 114,773 shares of the company’s stock, valued at $2,883,097.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Aby J. Mathew sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $23.28, for a total transaction of $232,800.00. Following the completion of the transaction, the executive vice president now owns 317,716 shares in the company, valued at $7,396,428.48. 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 27,044 shares of company stock worth $645,105. 2.20% of the stock is currently owned by insiders.

BioLife Solutions Stock Up 2.6 %

Shares of NASDAQ:BLFS opened at $26.60 on Thursday. The stock has a market capitalization of $1.23 billion, a P/E ratio of -15.74 and a beta of 1.88. The stock’s 50-day moving average price is $24.06 and its 200-day moving average price is $22.42. The company has a current ratio of 2.86, a quick ratio of 1.81 and a debt-to-equity ratio of 0.04. BioLife Solutions, Inc. has a 12-month low of $9.92 and a 12-month high of $27.36.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.08. The company had revenue of $28.33 million during the quarter, compared to analysts’ expectations of $23.80 million. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. On average, equities analysts anticipate that BioLife Solutions, Inc. will post -0.36 earnings per share for the current year.

Analysts Set New Price Targets

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

BioLife Solutions Company 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.