BioLife Solutions, Inc. $BLFS Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC trimmed its holdings in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,083,838 shares of the medical equipment provider’s stock after selling 25,084 shares during the period. Fred Alger Management LLC owned 2.25% of BioLife Solutions worth $26,207,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings in shares of BioLife Solutions by 2.7% during the second quarter. The Manufacturers Life Insurance Company now owns 20,764 shares of the medical equipment provider’s stock worth $447,000 after purchasing an additional 555 shares during the period. Isthmus Partners LLC raised its holdings in shares of BioLife Solutions by 0.5% during the fourth quarter. Isthmus Partners LLC now owns 138,393 shares of the medical equipment provider’s stock worth $3,346,000 after purchasing an additional 622 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of BioLife Solutions by 2.6% during the second quarter. Thrivent Financial for Lutherans now owns 27,278 shares of the medical equipment provider’s stock worth $588,000 after purchasing an additional 702 shares during the period. Quarry LP raised its holdings in shares of BioLife Solutions by 50.9% during the third quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock worth $54,000 after purchasing an additional 713 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of BioLife Solutions by 2.9% during the third quarter. Millennium Management LLC now owns 27,698 shares of the medical equipment provider’s stock worth $707,000 after purchasing an additional 783 shares during the period. 93.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of BioLife Solutions in a report on Monday, April 20th. Wall Street Zen raised shares of BioLife Solutions from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Zacks Research cut shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.00.

BioLife Solutions Stock Down 1.2%

BLFS stock opened at $26.36 on Wednesday. BioLife Solutions, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $29.62. The firm’s 50-day simple moving average is $23.05 and its 200 day simple moving average is $22.95. The stock has a market cap of $1.29 billion, a PE ratio of -329.46 and a beta of 2.00.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings data on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. BioLife Solutions had a negative net margin of 2.80% and a positive return on equity of 1.81%. The business had revenue of $27.50 million for the quarter, compared to analysts’ expectations of $25.66 million. Equities analysts forecast that BioLife Solutions, Inc. will post 0.07 EPS for the current fiscal year.

Insider Buying and Selling at BioLife Solutions

In related news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $23.70, for a total value of $15,405,000.00. Following the sale, the insider owned 4,757,165 shares of the company’s stock, valued at $112,744,810.50. This trade represents a 12.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 1,200,000 shares of company stock valued at $28,125,000. 2.20% of the stock is owned by company insiders.

About BioLife Solutions

BioLife Solutions (NASDAQ:BLFS) specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife’s product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company’s flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.