Penbrook Management LLC Has $499,000 Position in BioLife Solutions, Inc. $BLFS

Penbrook Management LLC lessened its position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 23.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 23,155 shares of the medical equipment provider’s stock after selling 7,270 shares during the quarter. Penbrook Management LLC’s holdings in BioLife Solutions were worth $499,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State of Wyoming increased its position in BioLife Solutions by 353.1% during the 1st quarter. State of Wyoming now owns 1,912 shares of the medical equipment provider’s stock valued at $44,000 after purchasing an additional 1,490 shares during the period. US Bancorp DE increased its position in BioLife Solutions by 243.7% during the 1st quarter. US Bancorp DE now owns 2,155 shares of the medical equipment provider’s stock valued at $49,000 after purchasing an additional 1,528 shares during the period. GAMMA Investing LLC increased its position in BioLife Solutions by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 4,223 shares of the medical equipment provider’s stock valued at $96,000 after purchasing an additional 663 shares during the period. Strs Ohio acquired a new stake in BioLife Solutions during the 1st quarter valued at approximately $153,000. Finally, Avantax Advisory Services Inc. increased its position in BioLife Solutions by 16.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 9,077 shares of the medical equipment provider’s stock valued at $207,000 after purchasing an additional 1,250 shares during the period. Institutional investors and hedge funds own 93.24% of the company’s stock.

BioLife Solutions Stock Up 2.3%

Shares of BLFS stock opened at $27.42 on Tuesday. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -228.48 and a beta of 1.95. BioLife Solutions, Inc. has a 52 week low of $19.10 and a 52 week high of $29.55. The firm has a 50 day moving average of $25.21 and a 200-day moving average of $23.33.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, August 7th. The medical equipment provider reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.31). BioLife Solutions had a positive return on equity of 0.16% and a negative net margin of 5.39%.The firm had revenue of $25.42 million during the quarter, compared to the consensus estimate of $23.71 million. BioLife Solutions has set its FY 2025 guidance at EPS. Analysts anticipate that BioLife Solutions, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Casdin Partners Master Fund, L sold 500,000 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $24.40, for a total value of $12,200,000.00. Following the transaction, the insider directly owned 6,707,165 shares in the company, valued at $163,654,826. This trade represents a 6.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Troy Wichterman sold 1,032 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $26.83, for a total value of $27,688.56. Following the completion of the transaction, the chief financial officer owned 184,186 shares in the company, valued at approximately $4,941,710.38. This represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,016,883 shares of company stock worth $23,929,762 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on BLFS shares. Zacks Research downgraded shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. Stephens started coverage on shares of BioLife Solutions in a research report on Tuesday, July 22nd. They set an “overweight” rating and a $30.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective (up previously from $30.00) on shares of BioLife Solutions in a research report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioLife Solutions in a research report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.29.

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.