Legato Capital Management LLC acquired a new position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,877 shares of the medical equipment provider's stock, valued at approximately $233,000.
Several other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System bought a new position in BioLife Solutions during the fourth quarter valued at about $283,000. GAMMA Investing LLC purchased a new stake in shares of BioLife Solutions during the 4th quarter worth approximately $41,000. Roubaix Capital LLC raised its holdings in shares of BioLife Solutions by 90.8% in the 4th quarter. Roubaix Capital LLC now owns 280,337 shares of the medical equipment provider's stock worth $4,555,000 after purchasing an additional 133,439 shares during the period. Millrace Asset Group Inc. lifted its stake in BioLife Solutions by 116.0% in the fourth quarter. Millrace Asset Group Inc. now owns 105,643 shares of the medical equipment provider's stock valued at $1,717,000 after purchasing an additional 56,726 shares during the last quarter. Finally, Isthmus Partners LLC grew its holdings in BioLife Solutions by 13.3% during the fourth quarter. Isthmus Partners LLC now owns 77,082 shares of the medical equipment provider's stock valued at $1,253,000 after purchasing an additional 9,025 shares during the period. Institutional investors own 93.24% of the company's stock.
Insider Activity
In other news, insider Sarah Aebersold sold 3,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $21.03, for a total value of $63,090.00. Following the transaction, the insider now owns 61,683 shares of the company's stock, valued at approximately $1,297,193.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CMO Todd Berard sold 10,000 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $20.18, for a total transaction of $201,800.00. Following the transaction, the chief marketing officer now owns 108,894 shares of the company's stock, valued at approximately $2,197,480.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sarah Aebersold sold 3,000 shares of BioLife Solutions stock in a transaction on 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 transaction, the insider now owns 61,683 shares in the company, valued at approximately $1,297,193.49. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,844 shares of company stock worth $305,052. 2.20% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on BLFS shares. StockNews.com upgraded shares of BioLife Solutions to a "sell" rating in a research note on Friday, May 10th. Craig Hallum lifted their price target on BioLife Solutions from $23.00 to $30.00 and gave the company a "buy" rating in a research report on Monday, August 12th. Northland Securities increased their price objective on BioLife Solutions from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Friday, August 9th. TD Cowen lifted their target price on BioLife Solutions from $20.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, July 17th. Finally, Benchmark raised shares of BioLife Solutions from a "neutral" rating to a "buy" rating and set a $25.00 price target on the stock in a report on Monday, May 13th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat, BioLife Solutions currently has an average rating of "Moderate Buy" and a consensus price target of $26.20.
Check Out Our Latest Research Report on BioLife Solutions
BioLife Solutions Price Performance
BioLife Solutions stock traded down $0.13 during midday trading on Tuesday, hitting $25.85. 265,590 shares of the company's stock were exchanged, compared to its average volume of 391,938. The company has a market cap of $1.19 billion, a P/E ratio of -18.04 and a beta of 1.85. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.77 and a current ratio of 2.89. The stock has a 50-day moving average price of $22.57 and a two-hundred day moving average price of $20.02. BioLife Solutions, Inc. has a 52-week low of $8.92 and a 52-week high of $26.73.
About BioLife Solutions
(
Free Report)
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.
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