Cannell & Spears LLC Trims Stock Holdings in BioLife Solutions, Inc. (NASDAQ:BLFS)

Cannell & Spears LLC lowered its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,995 shares of the medical equipment provider’s stock after selling 1,322 shares during the period. Cannell & Spears LLC’s holdings in BioLife Solutions were worth $675,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp lifted its holdings in BioLife Solutions by 7.3% during the 3rd quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock worth $35,364,000 after purchasing an additional 95,788 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of BioLife Solutions by 2.2% in the third quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider’s stock worth $21,107,000 after buying an additional 18,473 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of BioLife Solutions in the fourth quarter valued at approximately $20,664,000. Rockefeller Capital Management L.P. grew its stake in BioLife Solutions by 81.3% during the third quarter. Rockefeller Capital Management L.P. now owns 585,497 shares of the medical equipment provider’s stock valued at $14,661,000 after acquiring an additional 262,504 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in BioLife Solutions by 31.2% during the fourth quarter. Mutual of America Capital Management LLC now owns 521,937 shares of the medical equipment provider’s stock valued at $13,549,000 after acquiring an additional 124,165 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BLFS shares. StockNews.com downgraded shares of BioLife Solutions from a “hold” rating to a “sell” rating in a report on Monday. HC Wainwright boosted their target price on BioLife Solutions from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of BioLife Solutions in a report on Thursday, December 19th. KeyCorp lifted their price target on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Northland Securities upped their price objective on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat, BioLife Solutions presently has an average rating of “Moderate Buy” and an average target price of $29.86.

BioLife Solutions Stock Performance

NASDAQ:BLFS opened at $22.84 on Tuesday. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -21.55 and a beta of 2.04. The business has a 50 day moving average of $26.28 and a 200 day moving average of $25.56. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. BioLife Solutions, Inc. has a 1-year low of $14.84 and a 1-year high of $29.55.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings data on Monday, March 3rd. The medical equipment provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.32. BioLife Solutions had a negative net margin of 38.98% and a negative return on equity of 6.61%. The firm had revenue of $22.71 million during the quarter, compared to analyst estimates of $21.73 million. During the same period in the previous year, the business posted ($0.21) EPS. On average, sell-side analysts predict that BioLife Solutions, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at BioLife Solutions

In other news, CFO Troy Wichterman sold 987 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $27.02, for a total value of $26,668.74. Following the completion of the sale, the chief financial officer now owns 121,779 shares of the company’s stock, valued at approximately $3,290,468.58. The trade was a 0.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sarah Aebersold sold 1,091 shares of BioLife Solutions stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total value of $27,275.00. Following the completion of the transaction, the insider now directly owns 58,816 shares in the company, valued at $1,470,400. This trade represents a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,117 shares of company stock worth $534,442 over the last three months. Company insiders own 2.20% of the company’s stock.

BioLife Solutions Company Profile

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.