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

Fred Alger Management LLC lessened its stake in BioLife Solutions, Inc. (NASDAQ:BLFS) by 11.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,108,922 shares of the medical equipment provider’s stock after selling 139,106 shares during the period. Fred Alger Management LLC owned about 2.30% of BioLife Solutions worth $28,289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hantz Financial Services Inc. increased its holdings in shares of BioLife Solutions by 54.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,877 shares of the medical equipment provider’s stock valued at $48,000 after purchasing an additional 659 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in BioLife Solutions by 12.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,873 shares of the medical equipment provider’s stock valued at $83,000 after buying an additional 441 shares during the period. PNC Financial Services Group Inc. grew its position in BioLife Solutions by 82.0% during the third quarter. PNC Financial Services Group Inc. now owns 4,425 shares of the medical equipment provider’s stock valued at $113,000 after buying an additional 1,994 shares during the period. Strs Ohio purchased a new position in BioLife Solutions in the first quarter valued at $153,000. Finally, Tower Research Capital LLC TRC increased its holdings in BioLife Solutions by 547.9% in the second quarter. Tower Research Capital LLC TRC now owns 7,133 shares of the medical equipment provider’s stock valued at $154,000 after buying an additional 6,032 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

BioLife Solutions Stock Up 1.2%

Shares of NASDAQ BLFS opened at $18.36 on Monday. The firm has a market cap of $886.79 million, a price-to-earnings ratio of -166.89 and a beta of 1.90. The company’s 50-day simple moving average is $22.81 and its 200-day simple moving average is $24.83. BioLife Solutions, Inc. has a 52-week low of $17.86 and a 52-week high of $29.62.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Zacks Research raised shares of BioLife Solutions from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioLife Solutions in a report on Wednesday, January 21st. Northland Securities set a $34.00 price target on BioLife Solutions in a research report on Monday, January 5th. UBS Group reissued a “buy” rating on shares of BioLife Solutions in a report on Monday, December 29th. Finally, Wall Street Zen upgraded BioLife Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Insider Activity at BioLife Solutions

In other BioLife Solutions news, insider Karen A. Foster sold 96,923 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $20.15, for a total transaction of $1,952,998.45. Following the completion of the sale, the insider directly owned 113,742 shares in the company, valued at approximately $2,291,901.30. The trade was a 46.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Troy Wichterman sold 990 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $25.59, for a total value of $25,334.10. Following the transaction, the chief financial officer directly owned 150,746 shares of the company’s stock, valued at $3,857,590.14. The trade was a 0.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 101,956 shares of company stock valued at $2,068,241. 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.