Key Points
- Casdin Partners Master Fund, L, a major shareholder in BioLife Solutions, sold 250,000 shares at $23.70 each for a total of $5.925 million. The sale reduced its ownership by 4.42%, though it still held more than 5.4 million shares afterward.
- The fund also made additional recent sales of 650,000 shares on May 21 and 300,000 shares on May 19, indicating a broader trim in its BLFS position.
- BioLife Solutions shares were up 3.1% to $24.74, and the company recently reported quarterly earnings of $0.04 per share, beating estimates and generating revenue above forecasts.
BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) major shareholder Casdin Partners Master Fund, L sold 250,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $23.70, for a total transaction of $5,925,000.00. Following the sale, the insider owned 5,407,165 shares of the company's stock, valued at approximately $128,149,810.50. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Casdin Partners Master Fund, L also recently made the following trade(s):
- On Thursday, May 21st, Casdin Partners Master Fund, L sold 650,000 shares of BioLife Solutions stock. The stock was sold at an average price of $23.70, for a total transaction of $15,405,000.00.
- On Tuesday, May 19th, Casdin Partners Master Fund, L sold 300,000 shares of BioLife Solutions stock. The stock was sold at an average price of $22.65, for a total transaction of $6,795,000.00.
BioLife Solutions Stock Up 3.1%
BLFS opened at $24.74 on Friday. BioLife Solutions, Inc. has a twelve month low of $17.86 and a twelve month high of $29.62. The company has a fifty day moving average of $20.58 and a 200-day moving average of $22.94. The stock has a market cap of $1.21 billion, a PE ratio of -309.21 and a beta of 1.97.
BioLife Solutions (NASDAQ:BLFS - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. BioLife Solutions had a negative net margin of 2.80% and a positive return on equity of 1.81%. The company had revenue of $27.50 million during the quarter, compared to analysts' expectations of $25.66 million. Sell-side analysts anticipate that BioLife Solutions, Inc. will post 0.09 EPS for the current fiscal year.
Institutional Investors Weigh In On BioLife Solutions
Large investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL grew its holdings in BioLife Solutions by 85.2% in the third quarter. Tudor Investment Corp ET AL now owns 111,356 shares of the medical equipment provider's stock worth $2,841,000 after purchasing an additional 51,217 shares during the period. Capricorn Fund Managers Ltd acquired a new stake in BioLife Solutions in the fourth quarter worth $9,153,000. Vanguard Group Inc. grew its holdings in BioLife Solutions by 2.4% in the third quarter. Vanguard Group Inc. now owns 2,967,518 shares of the medical equipment provider's stock worth $75,701,000 after purchasing an additional 70,248 shares during the period. Summit Creek Advisors LLC lifted its stake in shares of BioLife Solutions by 24.2% in the fourth quarter. Summit Creek Advisors LLC now owns 238,802 shares of the medical equipment provider's stock valued at $5,774,000 after buying an additional 46,541 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of BioLife Solutions by 19.7% in the third quarter. Public Sector Pension Investment Board now owns 151,378 shares of the medical equipment provider's stock valued at $3,862,000 after buying an additional 24,913 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have commented on BLFS. Zacks Research cut shares of BioLife Solutions from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 12th. Wall Street Zen upgraded shares of BioLife Solutions from a "hold" rating to a "buy" rating in a report on Saturday, February 28th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of BioLife Solutions in a report on Monday, April 20th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $32.00.
View Our Latest Analysis on BioLife Solutions
About BioLife Solutions
(
Get Free Report)
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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