BioLife Solutions, Inc. (NASDAQ:BLFS) is Gagnon Securities LLC’s 10th Largest Position

Gagnon Securities LLC cut its position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 567,215 shares of the medical equipment provider’s stock after selling 2,163 shares during the period. BioLife Solutions accounts for about 3.0% of Gagnon Securities LLC’s investment portfolio, making the stock its 10th largest position. Gagnon Securities LLC owned approximately 1.22% of BioLife Solutions worth $14,725,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLFS. State Street Corp grew its holdings in BioLife Solutions by 7.3% in the 3rd quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock valued at $35,364,000 after buying an additional 95,788 shares during the last quarter. Geode Capital Management LLC boosted its stake in BioLife Solutions by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider’s stock valued at $21,107,000 after buying an additional 18,473 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in BioLife Solutions by 40.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,463 shares of the medical equipment provider’s stock valued at $487,000 after buying an additional 5,638 shares in the last quarter. Barclays PLC boosted its stake in BioLife Solutions by 20.1% in the 3rd quarter. Barclays PLC now owns 64,423 shares of the medical equipment provider’s stock valued at $1,613,000 after buying an additional 10,803 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in BioLife Solutions by 261.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 127,215 shares of the medical equipment provider’s stock valued at $2,726,000 after buying an additional 92,021 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

BioLife Solutions Trading Down 1.4 %

NASDAQ BLFS opened at $27.31 on Friday. The stock has a 50-day simple moving average of $26.84 and a 200 day simple moving average of $25.04. The company has a market capitalization of $1.27 billion, a PE ratio of -25.76 and a beta of 1.92. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. BioLife Solutions, Inc. has a 12 month low of $14.50 and a 12 month high of $29.55.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BLFS. Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of BioLife Solutions in a research report on Thursday, December 19th. KeyCorp lifted their price objective on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. TD Cowen lifted their price objective on BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Northland Securities boosted their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Finally, Craig Hallum boosted their target price on BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.43.

Insider Activity at BioLife Solutions

In other BioLife Solutions news, CFO Troy Wichterman sold 987 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $27.02, for a total value of $26,668.74. Following the completion of the transaction, the chief financial officer now directly owns 121,779 shares of the company’s stock, valued at approximately $3,290,468.58. The trade was a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Aby J. Mathew sold 25,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $21.17, for a total value of $529,250.00. Following the transaction, the executive vice president now directly owns 302,046 shares of the company’s stock, valued at $6,394,313.82. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,278 shares of company stock worth $1,199,987. 2.20% of the stock is owned by insiders.

BioLife Solutions Company 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.