Amalgamated Bank Has $312,000 Stock Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

Posted by Defense World Staff on Aug 9th, 2023

Amalgamated Bank reduced its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS – Free Report) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,347 shares of the medical equipment provider’s stock after selling 1,077 shares during the quarter. Amalgamated Bank’s holdings in BioLife Solutions were worth $312,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new stake in shares of BioLife Solutions during the 1st quarter worth $36,000. Lazard Asset Management LLC acquired a new stake in shares of BioLife Solutions during the 1st quarter worth $45,000. Captrust Financial Advisors boosted its stake in BioLife Solutions by 714.2% in the second quarter. Captrust Financial Advisors now owns 3,949 shares of the medical equipment provider’s stock valued at $55,000 after buying an additional 3,464 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in BioLife Solutions by 146.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,934 shares of the medical equipment provider’s stock valued at $64,000 after buying an additional 1,743 shares in the last quarter. Finally, Ancora Advisors LLC acquired a new stake in BioLife Solutions in the first quarter valued at about $90,000. 89.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BLFS. StockNews.com raised BioLife Solutions to a “sell” rating in a research note on Thursday, July 20th. Craig Hallum began coverage on BioLife Solutions in a research note on Tuesday, July 11th. They issued a “buy” rating and a $29.00 price objective on the stock. Finally, Stephens raised their price objective on BioLife Solutions from $27.00 to $29.00 in a research note on Monday, July 17th.

Check Out Our Latest Analysis on BioLife Solutions

BioLife Solutions Price Performance

BioLife Solutions stock opened at $18.39 on Wednesday. The company has a current ratio of 2.81, a quick ratio of 1.93 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $799.78 million, a PE ratio of -5.39 and a beta of 1.63. BioLife Solutions, Inc. has a 12 month low of $16.28 and a 12 month high of $26.96. The stock has a 50-day moving average price of $21.69 and a two-hundred day moving average price of $21.54.

BioLife Solutions (NASDAQ:BLFS – Get Free Report) last posted its earnings results on Wednesday, May 10th. The medical equipment provider reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.17). The firm had revenue of $37.70 million during the quarter, compared to the consensus estimate of $43.28 million. BioLife Solutions had a negative net margin of 89.08% and a negative return on equity of 8.20%. Analysts expect that BioLife Solutions, Inc. will post -0.51 EPS for the current year.

Insider Transactions at BioLife Solutions

In other news, CEO Michael Rice sold 33,333 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $21.04, for a total transaction of $701,326.32. Following the completion of the transaction, the chief executive officer now directly owns 421,468 shares in the company, valued at $8,867,686.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other BioLife Solutions news, major shareholder Casdin Partners Master Fund, L bought 30,000 shares of the stock in a transaction on Thursday, May 18th. The stock was acquired at an average cost of $21.76 per share, for a total transaction of $652,800.00. Following the completion of the acquisition, the insider now owns 75,027 shares in the company, valued at approximately $1,632,587.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Rice sold 33,333 shares of BioLife Solutions stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $21.04, for a total value of $701,326.32. Following the completion of the sale, the chief executive officer now owns 421,468 shares of the company’s stock, valued at $8,867,686.72. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 69,973 shares of company stock worth $1,501,560 and sold 72,468 shares worth $1,560,044. 2.70% of the stock is owned by corporate insiders.

BioLife Solutions Profile

(Free Report)

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.