LPL Financial LLC Buys 6,362 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

LPL Financial LLC boosted its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 22.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,381 shares of the medical equipment provider’s stock after buying an additional 6,362 shares during the quarter. LPL Financial LLC owned approximately 0.08% of BioLife Solutions worth $760,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BLFS. Point72 Hong Kong Ltd purchased a new position in BioLife Solutions during the 1st quarter valued at about $36,000. Cubist Systematic Strategies LLC purchased a new position in BioLife Solutions during the 1st quarter valued at about $36,000. Fifth Third Bancorp increased its position in BioLife Solutions by 56.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,899 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 689 shares during the period. Lazard Asset Management LLC purchased a new position in BioLife Solutions during the 1st quarter valued at about $45,000. Finally, Nisa Investment Advisors LLC grew its position in shares of BioLife Solutions by 67.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,360 shares of the medical equipment provider’s stock worth $51,000 after buying an additional 950 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

BioLife Solutions Stock Up 5.0 %

NASDAQ:BLFS opened at $13.41 on Tuesday. The firm has a market capitalization of $590.44 million, a P/E ratio of -5.66 and a beta of 1.57. BioLife Solutions, Inc. has a 1-year low of $8.92 and a 1-year high of $26.89. The company’s fifty day moving average price is $12.13 and its 200-day moving average price is $16.60. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.74 and a quick ratio of 1.72.

Analyst Ratings Changes

Several brokerages have weighed in on BLFS. TD Cowen lowered their target price on shares of BioLife Solutions from $29.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 9th. Craig Hallum decreased their price target on BioLife Solutions from $29.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 10th. Lake Street Capital lowered their price target on BioLife Solutions from $34.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. Finally, Stephens cut their price objective on shares of BioLife Solutions from $29.00 to $22.00 in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $24.60.

Insider Buying and Selling

In other news, major shareholder Casdin Partners Master Fund, L purchased 927,165 shares of the stock in a transaction that occurred on Thursday, October 19th. The shares were purchased at an average cost of $11.19 per share, with a total value of $10,374,976.35. Following the completion of the acquisition, the insider now owns 8,557,165 shares of the company’s stock, valued at approximately $95,754,676.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Casdin Partners Master Fund, L purchased 927,165 shares of the stock in a transaction that occurred on Thursday, October 19th. The shares were purchased at an average cost of $11.19 per share, with a total value of $10,374,976.35. Following the completion of the acquisition, the insider now owns 8,557,165 shares of the company’s stock, valued at approximately $95,754,676.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Rice sold 72,603 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $9.13, for a total transaction of $662,865.39. Following the sale, the chief executive officer now directly owns 347,085 shares in the company, valued at $3,168,886.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,985 shares of company stock valued at $752,766. Corporate insiders own 2.70% of the company’s stock.

BioLife Solutions Profile

BioLife Solutions, Inc develops, manufactures, and supplies bioproduction tools and services for the cell and gene therapy industry in the United States, Canada, 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.