CFO Sells 30,000 Shares of BioLife Solutions for $771,600

This bioproduction tools provider for cell and gene therapy reported a notable insider sale amid a modestly downtrending share price.

Troy Wichterman, Chief Financial Officer of BioLife Solutions (NASDAQ:BLFS), directly sold 30,000 shares on Dec. 4, for a transaction value of approximately $771,600, according to the SEC Form 4 filing.

Transaction summary

Transaction value based on SEC Form 4 weighted average sale price ($25.72); post-transaction value based on Dec. 4 market close of $25.83 (price not specified in filing).

Key questions

• How does the size of this transaction compare to Wichterman's previous selling activity?
  This 30,000-share sale is the largest single sell event in Wichterman's reported history, exceeding the prior maximum of 25,687 shares and far above the recent period median of 855 shares per sell.
• What portion of Wichterman's direct holdings was sold, and how does this relate to his remaining capacity?
  The transaction accounted for 16.4% of his direct ownership, leaving him with 152,769 shares, which is approximately 60.5% of his holdings at the start of the most recent reporting period.
• Did the transaction involve any indirect holdings, gifts, or derivative exercises?
  No indirect holdings, gifts, or option exercises were reported; the entire transaction involved a direct open-market sale of common stock.
• What is the market context for this transaction in terms of share price and company performance?
  Shares were sold at a weighted average price of $25.72, with the market closing at $25.83 on Dec. 4; the stock had declined 2.1% over the trailing year as of the transaction date,.

Company overview

Note: 1-year performance is calculated using Dec. 4 close as the reference date.

Company snapshot

BioLife Solutions is a specialized provider of bioproduction tools and services supporting the fast-growing cell and gene therapy sector. The company leverages proprietary preservation and logistics technologies to address critical needs in the manufacturing and distribution of advanced biologics. Its integrated portfolio and international reach position it as a key partner for organizations developing and commercializing next-generation therapies.

• Develops and supplies bioproduction tools including biopreservation media, automated thawing devices, cloud-connected shipping containers, cryogenic freezers, and storage services for the cell and gene therapy industry.
• Generates revenue through direct sales and third-party distributors, primarily from proprietary media products, equipment, and storage solutions tailored for temperature-sensitive biologics.
• Serves biotechnology and pharmaceutical companies, academic research institutions, and commercial manufacturers of biologic-based therapies across North America, Europe, the Middle East, Africa, and other international markets.

What this transaction means for investors

CFO Wichterman's recent sale of 30,000 shares represents a significant portion of his holdings. Currently owning nearly 153,000 shares, he divested over 16% of his holdings.

Director Amy DuRoss also sold a total of 10,000 shares recently, reducing her ownership to 20,687 shares. These sales were done outside of their pre-arranged 10b5-1 plans. Other insiders, including Wichterman, sold shares via these arrangements.

In early November, BioLife Solutions reported third-quarter results. Revenue grew 31.2% to $28.1 million. The company's operating loss under generally accepted accounting principles (GAAP) narrowed from $418,000 to $89,000.

Stock market investors haven't been impressed with BioLife Solutions over the last year. They sent the stock down 5.5% over the last year through Dec. 10. The S&P 500 index and Nasdaq Composite returned 15.6% and 20.2%, respectively, during this time.

Glossary

Insider: An individual with access to non-public, material information about a company, such as executives or directors.
Direct ownership: Shares held and controlled directly by an individual, not through intermediaries or trusts.
Indirect holdings: Shares owned through another entity or person, such as family trusts or investment vehicles.
Derivative instruments: Financial contracts whose value is based on the performance of underlying assets, like options or futures.
Open-market sale: The sale of securities on a public exchange rather than through private transactions or company programs.
Form 4: A required SEC filing disclosing insider transactions in a company’s securities.
Weighted average price: The average price per share in a transaction, adjusted for the number of shares sold at each price.
Trailing year: The most recent 12-month period ending on a specified date.
Biopreservation media: Specialized solutions used to preserve biological samples, cells, or tissues during storage and transport.
Cryogenic freezers: Equipment that stores biological materials at extremely low temperatures to maintain viability.
TTM: The 12-month period ending with the most recent quarterly report.
Cell and gene therapy: Advanced medical treatments using living cells or genetic material to treat or cure diseases.

Lawrence Rothman, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.