Kings Path Partners LLC Lowers Stock Holdings in BioLife Solutions, Inc. (NASDAQ:BLFS)

Kings Path Partners LLC lowered its stake in BioLife Solutions, Inc. (NASDAQ:BLFS) by 12.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,915 shares of the medical equipment provider’s stock after selling 4,711 shares during the period. Kings Path Partners LLC owned 0.07% of BioLife Solutions worth $849,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in BioLife Solutions by 11.5% in the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock worth $53,208,000 after acquiring an additional 296,727 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in BioLife Solutions by 1,038.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock worth $39,031,000 after purchasing an additional 2,191,002 shares in the last quarter. William Blair Investment Management LLC grew its position in BioLife Solutions by 0.8% during the 1st quarter. William Blair Investment Management LLC now owns 1,726,712 shares of the medical equipment provider’s stock valued at $32,031,000 after purchasing an additional 13,785 shares during the last quarter. Fred Alger Management LLC increased its stake in BioLife Solutions by 6.0% during the 2nd quarter. Fred Alger Management LLC now owns 1,579,138 shares of the medical equipment provider’s stock valued at $33,841,000 after purchasing an additional 88,840 shares in the last quarter. Finally, Geneva Capital Management LLC raised its holdings in BioLife Solutions by 0.7% in the first quarter. Geneva Capital Management LLC now owns 880,215 shares of the medical equipment provider’s stock worth $16,328,000 after buying an additional 5,730 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at BioLife Solutions

In related news, CRO Garrie Richardson sold 3,070 shares of the business’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 transaction of $77,118.40. Following the completion of the sale, the executive now directly owns 114,773 shares in the company, valued at approximately $2,883,097.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other BioLife Solutions news, EVP Aby J. Mathew sold 10,000 shares of the company’s 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 transaction, the executive vice president now directly owns 317,716 shares in the company, valued at $7,593,412.40. This represents 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, 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 transaction of $77,118.40. Following the completion of the transaction, the executive now owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,329 shares of company stock worth $372,447. 2.20% of the stock is owned by company insiders.

BioLife Solutions Stock Performance

Shares of BLFS stock opened at $22.60 on Friday. The company has a 50 day moving average price of $24.57 and a 200-day moving average price of $21.61. BioLife Solutions, Inc. has a 52 week low of $8.92 and a 52 week high of $26.73. The firm has a market capitalization of $1.04 billion, a PE ratio of -15.92 and a beta of 1.88. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. BioLife Solutions had a negative net margin of 59.88% and a negative return on equity of 10.75%. The firm had revenue of $28.33 million during the quarter, compared to analyst estimates of $23.80 million. As a group, equities research analysts expect that BioLife Solutions, Inc. will post -0.36 earnings per share 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.