BioLife Solutions, Inc. (NASDAQ:BLFS) Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC boosted its position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 6.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,579,138 shares of the medical equipment provider’s stock after buying an additional 88,840 shares during the period. Fred Alger Management LLC owned 3.43% of BioLife Solutions worth $33,841,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BLFS. Vanguard Group Inc. raised its position in BioLife Solutions by 11.5% in the 1st quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock valued at $53,208,000 after purchasing an additional 296,727 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of BioLife Solutions by 1,038.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock worth $39,031,000 after buying an additional 2,191,002 shares during the period. William Blair Investment Management LLC grew its holdings in shares of BioLife Solutions by 0.8% during the first quarter. William Blair Investment Management LLC now owns 1,726,712 shares of the medical equipment provider’s stock worth $32,031,000 after buying an additional 13,785 shares during the last quarter. Granahan Investment Management LLC grew its holdings in shares of BioLife Solutions by 22.8% during the fourth quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock worth $21,006,000 after buying an additional 240,001 shares during the last quarter. Finally, Geneva Capital Management LLC raised its stake in BioLife Solutions by 0.7% during the 1st quarter. Geneva Capital Management LLC now owns 880,215 shares of the medical equipment provider’s stock valued at $16,328,000 after acquiring an additional 5,730 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

BioLife Solutions Stock Down 0.0 %

BLFS opened at $24.79 on Wednesday. BioLife Solutions, Inc. has a one year low of $8.92 and a one year high of $26.73. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -17.46 and a beta of 1.87. The business’s fifty day moving average is $24.29 and its two-hundred day moving average is $21.07. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.81 and a current ratio of 2.86.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $28.33 million for the quarter, compared to analysts’ expectations of $23.80 million. BioLife Solutions had a negative net margin of 59.88% and a negative return on equity of 10.75%. Analysts anticipate that BioLife Solutions, Inc. will post -0.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on BLFS. Craig Hallum lifted their price objective on shares of BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Northland Securities lifted their target price on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, TD Cowen raised their price target on BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BioLife Solutions has a consensus rating of “Moderate Buy” and an average price target of $26.20.

Insider Activity

In related news, insider Sarah Aebersold sold 3,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $21.03, for a total value of $63,090.00. Following the completion of the transaction, the insider now owns 61,683 shares of the company’s stock, valued at approximately $1,297,193.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Sarah Aebersold sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $21.03, for a total value of $63,090.00. Following the completion of the sale, the insider now directly owns 61,683 shares in the company, valued at $1,297,193.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.12, for a total transaction of $77,118.40. Following the completion of the transaction, the executive now owns 114,773 shares in the company, valued at approximately $2,883,097.76. The disclosure for this sale can be found here. Insiders have sold 19,944 shares of company stock worth $468,709 over the last ninety days. 2.20% of the stock is currently owned by insiders.

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.