JPMorgan Chase & Co. Sells 7,402 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

JPMorgan Chase & Co. cut its stake in BioLife Solutions, Inc. (NASDAQ:BLFS) by 2.6% in the third quarter, HoldingsChannel.com reports. The fund owned 278,333 shares of the medical equipment provider’s stock after selling 7,402 shares during the period. JPMorgan Chase & Co.’s holdings in BioLife Solutions were worth $6,969,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLFS. Mark Sheptoff Financial Planning LLC bought a new stake in BioLife Solutions during the 3rd quarter worth approximately $28,000. Quest Partners LLC acquired a new stake in BioLife Solutions in the third quarter valued at $57,000. GAMMA Investing LLC lifted its stake in BioLife Solutions by 29.4% in the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock valued at $83,000 after purchasing an additional 748 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of BioLife Solutions during the 2nd quarter worth approximately $122,000. Finally, Arizona State Retirement System bought a new position in shares of BioLife Solutions in the second quarter valued at about $217,000. 93.24% of the stock is owned by institutional investors.

BioLife Solutions Stock Performance

Shares of BioLife Solutions stock opened at $26.71 on Thursday. The business has a 50-day moving average price of $26.08 and a two-hundred day moving average price of $24.45. BioLife Solutions, Inc. has a 1-year low of $14.50 and a 1-year high of $28.88. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.24 billion, a P/E ratio of -25.20 and a beta of 1.92.

Insider Activity at BioLife Solutions

In other BioLife Solutions news, EVP Aby J. Mathew sold 25,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $21.17, for a total value of $529,250.00. Following the completion of the sale, the executive vice president now directly owns 302,046 shares in the company, valued at approximately $6,394,313.82. This trade represents a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Greef Roderick De sold 46,896 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $23.43, for a total transaction of $1,098,773.28. Following the transaction, the chief executive officer now owns 414,958 shares in the company, valued at $9,722,465.94. This represents a 10.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,129 shares of company stock worth $2,344,018 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

BLFS has been the subject of several research reports. Benchmark reissued a “buy” rating and set a $30.00 price target on shares of BioLife Solutions in a report on Thursday, December 19th. Craig Hallum lifted their price objective on shares of BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. KeyCorp boosted their target price on BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. HC Wainwright cut their price objective on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Finally, Northland Securities boosted their target price on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.43.

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.