Envestnet Asset Management Inc. Boosts Stake in BioLife Solutions, Inc. (NASDAQ:BLFS)

Envestnet Asset Management Inc. increased its stake in BioLife Solutions, Inc. (NASDAQ:BLFS) by 261.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 127,215 shares of the medical equipment provider’s stock after acquiring an additional 92,021 shares during the period. Envestnet Asset Management Inc. owned about 0.28% of BioLife Solutions worth $2,726,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Granahan Investment Management LLC boosted its holdings in shares of BioLife Solutions by 22.8% in the 4th quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock worth $21,006,000 after purchasing an additional 240,001 shares in the last quarter. BNP Paribas Financial Markets grew its position in BioLife Solutions by 249.5% during the first quarter. BNP Paribas Financial Markets now owns 53,515 shares of the medical equipment provider’s stock valued at $993,000 after acquiring an additional 38,201 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of BioLife Solutions during the second quarter worth approximately $466,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of BioLife Solutions by 161,879.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 131,203 shares of the medical equipment provider’s stock worth $2,434,000 after acquiring an additional 131,122 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. Institutional investors own 93.24% of the company’s stock.

BioLife Solutions Trading Up 0.9 %

Shares of NASDAQ BLFS opened at $24.54 on Friday. The firm’s 50 day moving average price is $24.60 and its 200-day moving average price is $21.36. BioLife Solutions, Inc. has a 52-week low of $8.92 and a 52-week high of $26.73. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.81 and a current ratio of 2.86. The company has a market cap of $1.13 billion, a PE ratio of -17.22 and a beta of 1.88.

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

Analysts Set New Price Targets

Several analysts have weighed in on BLFS shares. HC Wainwright started coverage on shares of BioLife Solutions in a research note on Monday, September 30th. They issued a “buy” rating and a $29.00 price target for the company. TD Cowen boosted their target price on BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Craig Hallum raised their price target on BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Northland Securities boosted their price objective on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, BioLife Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $26.67.

Insider Activity

In other news, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the completion of the sale, the executive now directly owns 114,773 shares in the company, valued at $2,883,097.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other BioLife Solutions news, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total value of $239,000.00. Following the transaction, the executive vice president now owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Garrie Richardson sold 3,070 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the sale, the executive now owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,944 shares of company stock valued at $405,619 over the last ninety days. 2.20% of the stock is currently owned by corporate 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.