Cannell & Spears LLC Sells 1,322 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

Cannell & Spears LLC trimmed its holdings in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 4.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,995 shares of the medical equipment provider’s stock after selling 1,322 shares during the period. Cannell & Spears LLC owned approximately 0.06% of BioLife Solutions worth $675,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of BLFS. Steward Partners Investment Advisory LLC bought a new position in BioLife Solutions during the fourth quarter worth $26,000. 1620 Investment Advisors Inc. raised its holdings in shares of BioLife Solutions by 41.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider’s stock valued at $60,000 after purchasing an additional 675 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of BioLife Solutions by 27.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,469 shares of the medical equipment provider’s stock worth $117,000 after purchasing an additional 950 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of BioLife Solutions in the 4th quarter valued at about $171,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in BioLife Solutions in the 4th quarter valued at about $201,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

Wall Street Analyst Weigh In

BLFS has been the topic of several recent research reports. Northland Securities increased their price target on BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Benchmark reissued a “buy” rating and issued a $30.00 price target on shares of BioLife Solutions in a research report on Thursday, December 19th. KeyCorp upped their price objective on shares of BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. StockNews.com cut shares of BioLife Solutions from a “hold” rating to a “sell” rating in a report on Monday. Finally, HC Wainwright upped their target price on shares of BioLife Solutions from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.86.

Insiders Place Their Bets

In other BioLife Solutions news, insider Sarah Aebersold sold 5,632 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $24.96, for a total value of $140,574.72. Following the sale, the insider now directly owns 45,860 shares in the company, valued at $1,144,665.60. The trade was a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Troy Wichterman sold 987 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $27.02, for a total value of $26,668.74. Following the transaction, the chief financial officer now owns 121,779 shares of the company’s stock, valued at $3,290,468.58. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,117 shares of company stock valued at $534,442. Company insiders own 2.20% of the company’s stock.

BioLife Solutions Price Performance

Shares of NASDAQ BLFS opened at $22.84 on Tuesday. The company has a quick ratio of 1.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.07 billion, a PE ratio of -21.55 and a beta of 2.04. The stock’s 50 day moving average price is $26.28 and its 200-day moving average price is $25.56. BioLife Solutions, Inc. has a twelve month low of $14.84 and a twelve month high of $29.55.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings data on Monday, March 3rd. The medical equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.32. The firm had revenue of $22.71 million during the quarter, compared to the consensus estimate of $21.73 million. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. During the same quarter in the prior year, the company earned ($0.21) EPS. On average, equities analysts anticipate that BioLife Solutions, Inc. will post -0.3 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.