BioLife Solutions, Inc. (NASDAQ:BLFS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230,609 shares of the medical equipment provider’s stock after selling 4,612 shares during the quarter. Bank of New York Mellon Corp’s holdings in BioLife Solutions were worth $5,987,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in BioLife Solutions by 7.3% during the 3rd quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock valued at $35,364,000 after acquiring an additional 95,788 shares in the last quarter. Geode Capital Management LLC raised its stake in BioLife Solutions by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider’s stock valued at $21,107,000 after acquiring an additional 18,473 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in BioLife Solutions by 40.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,463 shares of the medical equipment provider’s stock valued at $487,000 after acquiring an additional 5,638 shares in the last quarter. Barclays PLC raised its stake in BioLife Solutions by 20.1% during the 3rd quarter. Barclays PLC now owns 64,423 shares of the medical equipment provider’s stock valued at $1,613,000 after acquiring an additional 10,803 shares in the last quarter. Finally, D.A. Davidson & CO. bought a new stake in BioLife Solutions during the 3rd quarter valued at $1,018,000. Institutional investors own 93.24% of the company’s stock.

Insider Buying and Selling

In related news, CMO Todd Berard sold 1,577 shares of BioLife Solutions stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total value of $39,425.00. Following the transaction, the chief marketing officer now directly owns 104,961 shares in the company, valued at $2,624,025. The trade was a 1.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Troy Wichterman sold 987 shares of BioLife Solutions stock in a transaction on Monday, January 6th. The stock was sold at an average price of $27.02, for a total value of $26,668.74. Following the completion of the transaction, the chief financial officer now owns 121,779 shares in the company, valued at $3,290,468.58. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,790 shares of company stock worth $325,307 in the last three months. 2.20% of the stock is currently owned by insiders.

BioLife Solutions Stock Performance

Shares of NASDAQ BLFS opened at $25.00 on Monday. The company has a quick ratio of 1.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -23.58 and a beta of 2.04. The stock’s fifty day simple moving average is $26.59 and its 200 day simple moving average is $25.49. BioLife Solutions, Inc. has a 52-week low of $14.84 and a 52-week high of $29.55.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.32. The business had revenue of $22.71 million for the quarter, compared to analysts’ expectations of $21.73 million. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. During the same period in the previous year, the firm posted ($0.21) EPS. As a group, sell-side analysts forecast that BioLife Solutions, Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on BLFS shares. Benchmark reaffirmed a “buy” rating and set a $30.00 target price on shares of BioLife Solutions in a research note on Thursday, December 19th. KeyCorp boosted their price objective on BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. HC Wainwright boosted their price objective on BioLife Solutions from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, Northland Securities boosted their price objective on BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.86.

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.