Penbrook Management LLC Decreases Stock Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

Penbrook Management LLC reduced its position in BioLife Solutions, Inc. (NASDAQ:BLFS) by 1.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,250 shares of the medical equipment provider’s stock after selling 700 shares during the quarter. Penbrook Management LLC’s holdings in BioLife Solutions were worth $747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in shares of BioLife Solutions by 161,879.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 131,203 shares of the medical equipment provider’s stock valued at $2,434,000 after purchasing an additional 131,122 shares in the last quarter. Register Financial Advisors LLC purchased a new position in shares of BioLife Solutions in the first quarter valued at $96,000. Goldman Sachs Group Inc. grew its position in shares of BioLife Solutions by 1,038.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock valued at $39,031,000 after purchasing an additional 2,191,002 shares in the last quarter. Granahan Investment Management LLC grew its position in shares of BioLife Solutions by 22.8% in the fourth quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock valued at $21,006,000 after purchasing an additional 240,001 shares in the last quarter. Finally, Ranger Investment Management L.P. grew its position in shares of BioLife Solutions by 6.7% in the fourth quarter. Ranger Investment Management L.P. now owns 363,574 shares of the medical equipment provider’s stock valued at $5,908,000 after purchasing an additional 22,906 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BioLife Solutions

In other BioLife Solutions news, CMO Todd Berard sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $20.18, for a total transaction of $201,800.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 24,845 shares of company stock valued at $447,644 in the last 90 days. Insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on BioLife Solutions in a research report on Thursday, April 4th. They issued a “buy” rating and a $22.00 price target for the company. Benchmark raised BioLife Solutions from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Monday, May 13th. Finally, StockNews.com raised BioLife Solutions to a “sell” rating in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.67.

BioLife Solutions Trading Down 2.7 %

Shares of BLFS traded down $0.56 during midday trading on Tuesday, reaching $20.23. The stock had a trading volume of 274,748 shares, compared to its average volume of 402,174. The company’s 50-day moving average is $20.32 and its 200 day moving average is $18.29. BioLife Solutions, Inc. has a 12-month low of $8.92 and a 12-month high of $23.85. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 1.77.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, May 9th. The medical equipment provider reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.06. The company had revenue of $31.73 million during the quarter, compared to analysts’ expectations of $29.30 million. BioLife Solutions had a negative return on equity of 12.89% and a negative net margin of 45.84%. During the same period in the prior year, the business posted ($0.27) EPS. Sell-side analysts expect that BioLife Solutions, Inc. will post -0.44 EPS for the current 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.