Allspring Global Investments Holdings LLC Has $2.78 Million Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

Allspring Global Investments Holdings LLC reduced its stake in BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 17.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,114 shares of the medical equipment provider's stock after selling 22,963 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.24% of BioLife Solutions worth $2,782,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Raymond James & Associates increased its position in BioLife Solutions by 4.3% during the third quarter. Raymond James & Associates now owns 139,997 shares of the medical equipment provider's stock worth $3,506,000 after acquiring an additional 5,803 shares during the period. GAMMA Investing LLC increased its holdings in shares of BioLife Solutions by 29.4% during the third quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider's stock worth $83,000 after purchasing an additional 748 shares during the period. SG Americas Securities LLC acquired a new stake in shares of BioLife Solutions in the third quarter valued at approximately $425,000. Meros Investment Management LP boosted its stake in shares of BioLife Solutions by 1.7% in the second quarter. Meros Investment Management LP now owns 399,803 shares of the medical equipment provider's stock valued at $8,568,000 after buying an additional 6,586 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of BioLife Solutions by 5.8% in the second quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider's stock valued at $296,000 after buying an additional 753 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

BioLife Solutions Price Performance

NASDAQ:BLFS traded up $0.47 on Wednesday, hitting $24.06. The company had a trading volume of 241,689 shares, compared to its average volume of 368,382. BioLife Solutions, Inc. has a 52 week low of $8.98 and a 52 week high of $26.73. The company has a current ratio of 2.86, a quick ratio of 1.81 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -16.94 and a beta of 1.88. The firm has a 50 day moving average of $24.12 and a two-hundred day moving average of $22.08.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.08. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. The company had revenue of $28.33 million during the quarter, compared to analysts' expectations of $23.80 million. On average, research analysts anticipate that BioLife Solutions, Inc. will post -0.36 earnings per share for the current year.

Insider Activity at BioLife Solutions

In other BioLife Solutions 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 sale, the executive now directly owns 114,773 shares of the company's stock, valued at $2,883,097.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Aby J. Mathew sold 10,000 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $23.28, for a total transaction of $232,800.00. Following the completion of the transaction, the executive vice president now directly owns 317,716 shares in the company, valued at $7,396,428.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 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 in the company, valued at $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. Insiders sold a total of 25,089 shares of company stock worth $599,847 in the last quarter. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on BLFS. Northland Securities lifted their price objective on BioLife Solutions from $26.00 to $28.00 and gave the company an "outperform" rating in a report on Friday, August 9th. TD Cowen increased their price objective on shares of BioLife Solutions from $20.00 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday, July 17th. Craig Hallum boosted their target price on shares of BioLife Solutions from $23.00 to $30.00 and gave the company a "buy" rating in a research report on Monday, August 12th. Finally, 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. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, BioLife Solutions presently has a consensus rating of "Moderate Buy" and an average price target of $26.67.

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.