Price T Rowe Associates Inc. MD Buys 2,628 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

Price T Rowe Associates Inc. MD increased its holdings in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 15.6% during the fourth quarter, Holdings Channel reports. The fund owned 19,439 shares of the medical equipment provider’s stock after acquiring an additional 2,628 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in BioLife Solutions were worth $505,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BLFS. Proficio Capital Partners LLC acquired a new stake in shares of BioLife Solutions during the 4th quarter worth $638,000. Alliancebernstein L.P. increased its stake in shares of BioLife Solutions by 11.9% in the fourth quarter. Alliancebernstein L.P. now owns 37,351 shares of the medical equipment provider’s stock valued at $970,000 after buying an additional 3,967 shares during the period. Envestnet Asset Management Inc. grew its stake in BioLife Solutions by 18.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 198,695 shares of the medical equipment provider’s stock worth $5,158,000 after purchasing an additional 31,167 shares during the period. Victory Capital Management Inc. grew its stake in BioLife Solutions by 422.2% during the fourth quarter. Victory Capital Management Inc. now owns 218,962 shares of the medical equipment provider’s stock worth $5,684,000 after purchasing an additional 177,028 shares during the period. Finally, D.A. Davidson & CO. grew its stake in BioLife Solutions by 1.3% in the fourth quarter. D.A. Davidson & CO. now owns 41,179 shares of the medical equipment provider’s stock valued at $1,069,000 after acquiring an additional 519 shares during the period. 93.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CMO Todd Berard sold 1,577 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total transaction of $39,425.00. Following the completion of the transaction, the chief marketing officer now owns 104,961 shares of the company’s stock, valued at $2,624,025. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Troy Wichterman sold 25,687 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $22.66, for a total value of $582,067.42. Following the completion of the transaction, the chief financial officer now owns 189,242 shares of the company’s stock, valued at $4,288,223.72. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,696 shares of company stock worth $1,665,094. 2.20% of the stock is currently owned by company insiders.

BioLife Solutions Price Performance

Shares of NASDAQ BLFS opened at $23.09 on Wednesday. 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 firm has a market capitalization of $1.10 billion, a P/E ratio of -21.78 and a beta of 2.01. The stock’s 50-day simple moving average is $23.71 and its two-hundred day simple moving average is $25.31. BioLife Solutions, Inc. has a twelve month low of $18.70 and a twelve month high of $29.55.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, May 8th. The medical equipment provider reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.07. The company had revenue of $23.94 million during the quarter, compared to analysts’ expectations of $22.22 million. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. As a group, equities analysts anticipate that BioLife Solutions, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BLFS. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of BioLife Solutions in a report on Tuesday. StockNews.com raised BioLife Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, BioLife Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $31.17.

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.