Kings Path Partners LLC Sells 13,100 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

Kings Path Partners LLC reduced its stake in BioLife Solutions, Inc. (NASDAQ:BLFS) by 38.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,815 shares of the medical equipment provider’s stock after selling 13,100 shares during the quarter. Kings Path Partners LLC’s holdings in BioLife Solutions were worth $475,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BLFS. Raymond James Financial Inc. bought a new position in shares of BioLife Solutions in the fourth quarter worth approximately $20,664,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of BioLife Solutions during the 4th quarter valued at about $19,805,000. Point72 Asset Management L.P. bought a new stake in BioLife Solutions during the fourth quarter valued at approximately $11,113,000. Millennium Management LLC raised its holdings in BioLife Solutions by 49.1% in the 4th quarter. Millennium Management LLC now owns 1,145,347 shares of the medical equipment provider’s stock worth $29,733,000 after purchasing an additional 377,111 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of BioLife Solutions by 40.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 821,764 shares of the medical equipment provider’s stock valued at $21,333,000 after buying an additional 236,267 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on BLFS shares. Wall Street Zen lowered shares of BioLife Solutions from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of BioLife Solutions in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat, BioLife Solutions has a consensus rating of “Moderate Buy” and an average target price of $31.17.

Insider Activity

In related news, EVP Aby J. Mathew sold 1,597 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total value of $39,925.00. Following the completion of the sale, the executive vice president now owns 260,601 shares of the company’s stock, valued at approximately $6,515,025. The trade was a 0.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Troy Wichterman sold 4,151 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total transaction of $103,775.00. Following the sale, the chief financial officer now directly owns 116,809 shares of the company’s stock, valued at $2,920,225. This represents a 3.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,696 shares of company stock valued at $1,665,094 in the last quarter. 2.20% of the stock is currently owned by company insiders.

BioLife Solutions Trading Down 0.1%

NASDAQ BLFS opened at $22.32 on Friday. BioLife Solutions, Inc. has a 12-month low of $18.70 and a 12-month high of $29.55. The company has a fifty day simple moving average of $22.94 and a two-hundred day simple moving average of $25.09. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.06 billion, a P/E ratio of -21.06 and a beta of 2.01.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, May 8th. The medical equipment provider reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. The firm had revenue of $23.94 million for the quarter, compared to analyst estimates of $22.22 million. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. On average, analysts forecast that BioLife Solutions, Inc. will post -0.3 earnings per share 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.