BioLife Solutions (NASDAQ:BLFS) Major Shareholder Casdin Partners Master Fund, L Sells 650,000 Shares of Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the business’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 value of $15,405,000.00. Following the completion of the sale, the insider directly owned 4,757,165 shares in the company, valued at approximately $112,744,810.50. This represents a 12.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Casdin Partners Master Fund, L also recently made the following trade(s):

• On Wednesday, May 20th, Casdin Partners Master Fund, L sold 250,000 shares of BioLife Solutions stock. The stock was sold at an average price of $23.70, for a total value of $5,925,000.00.
• 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 value of $6,795,000.00.

BioLife Solutions Stock Up 3.1%

Shares of BLFS opened at $24.74 on Friday. The business’s 50 day moving average price is $20.58 and its 200-day moving average price is $22.94. BioLife Solutions, Inc. has a 52 week low of $17.86 and a 52 week high of $29.62. The stock has a market cap of $1.21 billion, a P/E ratio of -309.21 and a beta of 1.97.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings results on Thursday, May 7th. The medical equipment provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. BioLife Solutions had a positive return on equity of 1.81% and a negative net margin of 2.80%.The firm had revenue of $27.50 million for the quarter, compared to analysts’ expectations of $25.66 million. On average, equities analysts anticipate that BioLife Solutions, Inc. will post 0.09 EPS for the current year.

Hedge Funds Weigh In On BioLife Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. grew its holdings in shares of BioLife Solutions by 27.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,180,824 shares of the medical equipment provider’s stock worth $125,273,000 after acquiring an additional 1,113,972 shares during the period. Bank of America Corp DE grew its holdings in shares of BioLife Solutions by 73.4% in the first quarter. Bank of America Corp DE now owns 904,103 shares of the medical equipment provider’s stock worth $17,250,000 after acquiring an additional 382,776 shares during the period. Capricorn Fund Managers Ltd bought a new stake in shares of BioLife Solutions in the fourth quarter worth $9,153,000. Invesco Ltd. grew its holdings in shares of BioLife Solutions by 9.2% in the fourth quarter. Invesco Ltd. now owns 3,932,191 shares of the medical equipment provider’s stock worth $95,080,000 after acquiring an additional 332,747 shares during the period. Finally, Granahan Investment Management LLC grew its holdings in shares of BioLife Solutions by 49.7% in the first quarter. Granahan Investment Management LLC now owns 722,057 shares of the medical equipment provider’s stock worth $13,777,000 after acquiring an additional 239,701 shares during the period. 93.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BLFS shares. Wall Street Zen upgraded shares of BioLife Solutions from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of BioLife Solutions in a report on Monday, April 20th. Finally, Zacks Research lowered shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $32.00.

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.