Arizona State Retirement System Invests $217,000 in BioLife Solutions, Inc. (NASDAQ:BLFS)

Arizona State Retirement System purchased a new stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,145 shares of the medical equipment provider’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rhumbline Advisers boosted its stake in shares of BioLife Solutions by 4.7% during the 2nd quarter. Rhumbline Advisers now owns 87,473 shares of the medical equipment provider’s stock valued at $1,875,000 after purchasing an additional 3,912 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of BioLife Solutions in the 2nd quarter valued at approximately $1,605,000. Kings Path Partners LLC bought a new stake in shares of BioLife Solutions during the second quarter valued at approximately $828,000. Peregrine Capital Management LLC lifted its position in BioLife Solutions by 1.3% during the second quarter. Peregrine Capital Management LLC now owns 297,456 shares of the medical equipment provider’s stock valued at $6,374,000 after buying an additional 3,869 shares during the period. Finally, Legato Capital Management LLC bought a new stake in shares of BioLife Solutions during the 2nd quarter valued at $233,000. Institutional investors own 93.24% of the company’s stock.

Insider Activity at BioLife Solutions

In related news, CRO Garrie Richardson sold 3,070 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the transaction, the executive now owns 114,773 shares of the company’s stock, valued at $2,883,097.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Sarah Aebersold sold 3,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $21.03, for a total transaction of $63,090.00. Following the completion of the sale, the insider now owns 61,683 shares in the company, valued at $1,297,193.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the completion of the transaction, the executive now owns 114,773 shares of the company’s stock, valued at $2,883,097.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,944 shares of company stock worth $229,709. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Northland Securities lifted their price target on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. 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, Craig Hallum upped their price target on BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.20.

BioLife Solutions Price Performance

BLFS opened at $23.72 on Thursday. The company’s 50-day simple moving average is $23.89 and its two-hundred day simple moving average is $20.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.81 and a current ratio of 2.86. The stock has a market capitalization of $1.09 billion, a P/E ratio of -16.70 and a beta of 1.87. BioLife Solutions, Inc. has a 52-week low of $8.92 and a 52-week high of $26.73.

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

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.