Dueling Insider Trading Still Points to a Bullish Outlook: BioLife Solutions Inc (NASDAQ: BLFS)

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  • BioLife Solutions Inc (NASDAQ: BLFS) is a medical technology company located in Bothell, WA. The company produces bioproduction tools for the cell and gene therapy.

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  • The company provided a preliminary revenue announcement on July 1. The release shows a 43% to 46% increase in revenue year-over-year from the same quarter in 2019. The CEO, Mike Rice, commented:

    “Despite the continued impact of COVID-19 on the biotech industry and specifically, the cell and gene therapy market, we continued to drive revenue growth in the second quarter. In the first six months of 2020, we added 57 new customers and confirmed that our bio preservation media products have been embedded in 23 additional customer clinical trials.”

    As you look at insider trading for the month of July, there has already been two large transactions and they both occurred on July 2 following the announcement of a $75 million public offering. The offering ended up closing on July 7 at $14.50 a share for a total of $86 million. The transactions came from the largest shareholder and the largest fund holder. The sale of 305, 583 shares at $14.50 came from director and 10% owner Thomas Girschweiler. The purchase of 990.583 shares at $14.50 came from Casdin Partners Master Fund.

    Here are links to the last two insider trading reports.

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    Action to Take: Ultimately, the different positions of those involved in the transaction may tell a different story on the surface. With 71% of the company held by insiders and Thomas Girschweiler holding nearly 95% of the shares, the sale wasn’t significant. The purchase increased the holdings of the fund by nearly 20%, which is significant.

    The revenue news and the insider trading activity provides a buy indication with a $25 target.

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