BioLife Solutions, Inc. (NASDAQ:BLFS) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 47.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,009,197 shares of the medical equipment provider's stock after selling 903,853 shares during the quarter. Millennium Management LLC owned approximately 2.19% of BioLife Solutions worth $21,627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in shares of BioLife Solutions in the second quarter worth approximately $35,000. Isthmus Partners LLC lifted its position in BioLife Solutions by 34.4% during the second quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider's stock valued at $35,000 after buying an additional 42,265 shares in the last quarter. Register Financial Advisors LLC acquired a new position in BioLife Solutions during the first quarter valued at approximately $96,000. Canada Pension Plan Investment Board acquired a new position in BioLife Solutions during the second quarter valued at approximately $122,000. Finally, Arizona State Retirement System acquired a new position in BioLife Solutions during the second quarter valued at approximately $217,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. HC Wainwright assumed coverage on shares of BioLife Solutions in a research report on Monday, September 30th. They set a "buy" rating and a $29.00 price target on the stock. TD Cowen lifted their price target on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, July 17th. Northland Securities lifted their price objective on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, August 9th. Finally, Craig Hallum lifted 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. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $26.67.

Insider Activity

In other news, CRO Garrie Richardson sold 3,070 shares of the business's stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CRO Garrie Richardson sold 3,070 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.12, for a total value 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. 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 the SEC website. Also, EVP Aby J. Mathew sold 10,000 shares of the company's stock in a transaction dated 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 sale, the executive vice president now directly owns 317,716 shares of the company's stock, valued at $7,593,412.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,944 shares of company stock valued at $405,619. 2.20% of the stock is currently owned by company insiders.

BioLife Solutions Stock Up 0.9 %

Shares of NASDAQ:BLFS opened at $24.54 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. BioLife Solutions, Inc. has a 12-month low of $8.92 and a 12-month high of $26.73. The company has a fifty day simple moving average of $24.61 and a 200 day simple moving average of $21.42. The firm has a market cap of $1.13 billion, a PE ratio of -17.28 and a beta of 1.88.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last released its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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. On average, equities research analysts anticipate that BioLife Solutions, Inc. will post -0.36 EPS for the current fiscal year.

BioLife Solutions 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.