Summit Creek Advisors LLC acquired a new position in BioLife Solutions, Inc. (NASDAQ:BLFS – Free Report) during the second quarter, HoldingsChannel.com reports. The fund acquired 180,544 shares of the medical equipment provider’s stock, valued at approximately $5,099,000. BioLife Solutions comprises 1.7% of Summit Creek Advisors LLC’s holdings, making the stock its 28th largest holding.
Several other institutional investors have also added to or reduced their stakes in the stock. Global Retirement Partners LLC acquired a new stake in BioLife Solutions during the 4th quarter valued at approximately $30,000. Kemnay Advisory Services Inc. acquired a new position in shares of BioLife Solutions in the 4th quarter worth approximately $35,000. State of Wyoming bought a new stake in shares of BioLife Solutions in the 1st quarter valued at $52,000. Quarry LP boosted its stake in shares of BioLife Solutions by 50.9% in the 3rd quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock valued at $54,000 after purchasing an additional 713 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its position in shares of BioLife Solutions by 42.4% during the fourth quarter. Hantz Financial Services Inc. now owns 2,673 shares of the medical equipment provider’s stock worth $65,000 after buying an additional 796 shares during the period. 93.24% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
BLFS has been the topic of a number of recent analyst reports. Wall Street Zen downgraded BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Benchmark lowered BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. Craig Hallum downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research report on Wednesday, July 22nd. Jefferies Financial Group downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating and boosted their target price for the company from $30.00 to $31.00 in a research report on Thursday, July 23rd. Finally, Maxim Group lowered shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, BioLife Solutions currently has an average rating of “Hold” and an average target price of $31.38.
BioLife Solutions Price Performance
Shares of BioLife Solutions stock opened at $34.94 on Wednesday. The business has a 50-day simple moving average of $29.72 and a 200 day simple moving average of $24.57. BioLife Solutions, Inc. has a one year low of $17.86 and a one year high of $35.46. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 30.12 and a beta of 1.93.
BioLife Solutions (NASDAQ:BLFS – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.88. BioLife Solutions had a return on equity of 2.70% and a net margin of 53.29%.The business had revenue of $28.47 million for the quarter, compared to analyst estimates of $27.80 million. On average, sell-side analysts expect that BioLife Solutions, Inc. will post 0.03 EPS for the current year.
Insider Activity at BioLife Solutions
In other news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $23.70, for a total transaction of $15,405,000.00. Following the transaction, the insider directly owned 4,757,165 shares of the company’s stock, valued at $112,744,810.50. This represents a 12.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is currently owned by corporate insiders.
About BioLife Solutions
BioLife Solutions (NASDAQ:BLFS) specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife’s product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.
The company’s flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.
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