State of Alaska Department of Revenue Sells 798 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

State of Alaska Department of Revenue lowered its position in BioLife Solutions, Inc. (NASDAQ:BLFS) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,553 shares of the medical equipment provider’s stock after selling 798 shares during the quarter. State of Alaska Department of Revenue’s holdings in BioLife Solutions were worth $514,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Raymond James & Associates grew its position in shares of BioLife Solutions by 4.3% during the 3rd quarter. Raymond James & Associates now owns 139,997 shares of the medical equipment provider’s stock worth $3,506,000 after buying an additional 5,803 shares in the last quarter. GAMMA Investing LLC lifted its stake in BioLife Solutions by 29.4% in the third quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after acquiring an additional 748 shares during the period. SG Americas Securities LLC bought a new position in BioLife Solutions during the 3rd quarter worth about $425,000. Meros Investment Management LP increased its position in BioLife Solutions by 1.7% during the 2nd quarter. Meros Investment Management LP now owns 399,803 shares of the medical equipment provider’s stock valued at $8,568,000 after purchasing an additional 6,586 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of BioLife Solutions by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock valued at $296,000 after purchasing an additional 753 shares in the last quarter. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BLFS. Craig Hallum increased their price objective on shares of BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, August 12th. HC Wainwright assumed coverage on BioLife Solutions in a research report on Monday, September 30th. They set a “buy” rating and a $29.00 target price on the stock. TD Cowen boosted their price target on BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Northland Securities raised their price objective on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

BioLife Solutions Stock Performance

Shares of BLFS stock opened at $26.14 on Friday. The company has a current ratio of 2.86, a quick ratio of 1.81 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.21 billion, a PE ratio of -15.47 and a beta of 1.88. BioLife Solutions, Inc. has a 12-month low of $9.92 and a 12-month high of $27.36. The business’s fifty day simple moving average is $24.06 and its 200-day simple moving average is $22.45.

BioLife Solutions (NASDAQ:BLFS) last announced its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.08. The company had revenue of $28.33 million for the quarter, compared to analyst estimates of $23.80 million. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. Analysts expect that BioLife Solutions, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the completion of the sale, the executive vice president now directly owns 317,716 shares in the company, valued at $7,593,412.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.12, for a total transaction of $77,118.40. Following the completion of the sale, the executive now owns 114,773 shares of the company’s stock, valued at $2,883,097.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total transaction of $239,000.00. Following the completion of the transaction, the executive vice president now owns 317,716 shares in the company, valued at approximately $7,593,412.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,044 shares of company stock worth $645,105 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

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.