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

Fred Alger Management LLC reduced its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 0.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,577,947 shares of the medical equipment provider’s stock after selling 1,191 shares during the quarter. Fred Alger Management LLC’s holdings in BioLife Solutions were worth $39,512,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new stake in BioLife Solutions during the 2nd quarter worth about $35,000. Isthmus Partners LLC grew its position in shares of BioLife Solutions by 34.4% during the 2nd quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 42,265 shares during the period. Quest Partners LLC acquired a new stake in shares of BioLife Solutions during the 3rd quarter valued at about $57,000. GAMMA Investing LLC grew its position in shares of BioLife Solutions by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock valued at $83,000 after acquiring an additional 748 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of BioLife Solutions during the 2nd quarter valued at about $122,000. 93.24% of the stock is owned by institutional investors and hedge funds.

BioLife Solutions Trading Up 0.4 %

Shares of BioLife Solutions stock opened at $27.16 on Friday. The firm has a market capitalization of $1.26 billion, a PE ratio of -25.62 and a beta of 1.88. BioLife Solutions, Inc. has a twelve month low of $11.91 and a twelve month high of $28.88. The firm’s 50-day moving average price is $24.19 and its 200 day moving average price is $23.19. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Insider Activity at BioLife Solutions

In related news, CRO Garrie Richardson sold 3,070 shares of the firm’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 transaction, the executive now directly owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Aby J. Mathew sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $23.28, for a total transaction of $232,800.00. Following the completion of the transaction, the executive vice president now directly owns 317,716 shares in the company, valued at $7,396,428.48. This trade represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,644 shares of company stock valued at $1,527,503. 2.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BLFS has been the topic of a number of analyst reports. Northland Securities raised their target price on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. HC Wainwright dropped their target price on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. TD Cowen raised their target price on BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Craig Hallum raised their target price on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $27.50.

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.