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

BioLife Solutions, Inc. (NASDAQ:BLFS) major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the 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 transaction, the insider owned 4,757,165 shares in the company, valued at approximately $112,744,810.50. The trade was a 12.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own 10% or more 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%

NASDAQ:BLFS traded up $0.74 on Thursday, hitting $24.74. The stock had a trading volume of 1,074,792 shares, compared to its average volume of 468,051. The business’s fifty day moving average is $20.58 and its 200 day moving average is $22.94. The company has a market cap of $1.21 billion, a PE ratio of -309.21 and a beta of 1.97. BioLife Solutions, Inc. has a 52 week low of $17.86 and a 52 week high of $29.62.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings results on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. The business had revenue of $27.50 million for the quarter, compared to analyst estimates of $25.66 million. BioLife Solutions had a positive return on equity of 1.81% and a negative net margin of 2.80%. Equities analysts predict that BioLife Solutions, Inc. will post 0.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BLFS. T. Rowe Price Investment Management Inc. lifted its holdings in BioLife Solutions by 27.4% during 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. Invesco Ltd. lifted its holdings in BioLife Solutions by 9.2% during 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. Vanguard Group Inc. lifted its holdings in BioLife Solutions by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 3,087,386 shares of the medical equipment provider’s stock worth $74,653,000 after acquiring an additional 119,868 shares during the period. State Street Corp lifted its holdings in BioLife Solutions by 3.4% during the fourth quarter. State Street Corp now owns 1,505,593 shares of the medical equipment provider’s stock worth $36,405,000 after acquiring an additional 49,028 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in BioLife Solutions by 11.3% during the second quarter. Ameriprise Financial Inc. now owns 1,080,371 shares of the medical equipment provider’s stock worth $23,271,000 after acquiring an additional 109,959 shares during the period. Institutional investors own 93.24% of the company’s stock.

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.