Peregrine Capital Management LLC Grows Holdings in BioLife Solutions, Inc. $BLFS

Peregrine Capital Management LLC increased its holdings in BioLife Solutions, Inc. (NASDAQ:BLFS) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,663 shares of the medical equipment provider’s stock after acquiring an additional 6,217 shares during the quarter. Peregrine Capital Management LLC owned about 0.77% of BioLife Solutions worth $7,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. GAMMA Investing LLC grew its holdings in BioLife Solutions by 18.6% in the first quarter. GAMMA Investing LLC now owns 4,223 shares of the medical equipment provider’s stock worth $96,000 after purchasing an additional 663 shares during the period. Principal Financial Group Inc. boosted its position in shares of BioLife Solutions by 6.2% in the 1st quarter. Principal Financial Group Inc. now owns 259,488 shares of the medical equipment provider’s stock worth $5,927,000 after purchasing an additional 15,241 shares in the last quarter. Palisade Capital Management LP grew its stake in shares of BioLife Solutions by 13.7% in the 1st quarter. Palisade Capital Management LP now owns 947,085 shares of the medical equipment provider’s stock worth $21,631,000 after buying an additional 113,937 shares during the last quarter. Envestnet Asset Management Inc. increased its position in BioLife Solutions by 37.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 273,329 shares of the medical equipment provider’s stock valued at $6,243,000 after buying an additional 74,634 shares in the last quarter. Finally, Cerity Partners LLC increased its position in BioLife Solutions by 22.8% during the 1st quarter. Cerity Partners LLC now owns 48,603 shares of the medical equipment provider’s stock valued at $1,110,000 after buying an additional 9,015 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Insider Activity at BioLife Solutions

In other BioLife Solutions news, CFO Troy Wichterman sold 1,032 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $26.83, for a total transaction of $27,688.56. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Greef Roderick De sold 37,795 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $27.30, for a total transaction of $1,031,803.50. Following the transaction, the chief executive officer owned 489,998 shares in the company, valued at $13,376,945.40. This represents a 7.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,806,076 shares of company stock worth $46,419,287 over the last quarter. 2.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

BioLife Solutions Stock Performance

BLFS opened at $28.04 on Tuesday. The stock has a market capitalization of $1.34 billion, a P/E ratio of -233.65 and a beta of 1.95. The company’s 50-day simple moving average is $26.18 and its two-hundred day simple moving average is $23.74. BioLife Solutions, Inc. has a 52-week low of $19.10 and a 52-week high of $29.62.

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

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.