Stephens Investment Management Group LLC Cuts Stake in BioLife Solutions, Inc. (NASDAQ:BLFS)

Stephens Investment Management Group LLC trimmed its position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 425,095 shares of the medical equipment provider’s stock after selling 5,846 shares during the quarter. Stephens Investment Management Group LLC owned about 0.92% of BioLife Solutions worth $10,644,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Mutual of America Capital Management LLC purchased a new stake in shares of BioLife Solutions during the 2nd quarter valued at about $8,592,000. Vanguard Group Inc. boosted its holdings in shares of BioLife Solutions by 11.5% during 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 acquiring an additional 296,727 shares during the last quarter. Raymond James & Associates purchased a new stake in shares of BioLife Solutions during the 2nd quarter valued at about $2,876,000. Envestnet Asset Management Inc. boosted its holdings in shares of BioLife Solutions by 261.5% during 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 acquiring an additional 92,021 shares during the last quarter. Finally, Fred Alger Management LLC boosted its holdings in shares of BioLife Solutions by 6.0% during the 2nd quarter. Fred Alger Management LLC now owns 1,579,138 shares of the medical equipment provider’s stock valued at $33,841,000 after acquiring an additional 88,840 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BioLife Solutions

In other news, CRO Garrie Richardson sold 3,070 shares of the business’s stock in a transaction 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 transaction, the executive now owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CRO Garrie Richardson sold 3,070 shares of the business’s stock in a transaction 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 sale, the executive now owns 114,773 shares in the company, valued at approximately $2,883,097.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Aby J. Mathew sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total transaction of $239,000.00. Following the completion of the sale, the executive vice president now owns 317,716 shares in the company, valued at $7,593,412.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,044 shares of company stock valued at $645,105. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLFS. HC Wainwright began coverage on shares of BioLife Solutions in a report on Monday, September 30th. They set a “buy” rating and a $29.00 price target on the stock. Craig Hallum raised their price objective on shares of BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, August 12th. TD Cowen raised their price objective on shares of BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Northland Securities raised their price objective on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.67.

BioLife Solutions Price Performance

Shares of NASDAQ:BLFS opened at $24.07 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.86 and a quick ratio of 1.81. BioLife Solutions, Inc. has a 1-year low of $9.92 and a 1-year high of $26.73. The company has a market capitalization of $1.11 billion, a P/E ratio of -14.24 and a beta of 1.88. The firm’s 50 day simple moving average is $24.07 and its two-hundred day simple moving average is $22.10.

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

About BioLife Solutions

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.