Portolan Capital Management LLC Has $10.71 Million Stake in BioLife Solutions, Inc. (NASDAQ:BLFS)

Portolan Capital Management LLC decreased its position in BioLife Solutions, Inc. (NASDAQ:BLFS) by 57.4% in the third quarter, HoldingsChannel reports. The firm owned 427,876 shares of the medical equipment provider’s stock after selling 576,352 shares during the period. Portolan Capital Management LLC’s holdings in BioLife Solutions were worth $10,714,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC acquired a new position in BioLife Solutions in the 3rd quarter worth approximately $28,000. 1620 Investment Advisors Inc. acquired a new stake in shares of BioLife Solutions during the 2nd quarter valued at $35,000. Isthmus Partners LLC boosted its stake 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 buying 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 $57,000. Finally, GAMMA Investing LLC boosted its stake 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 buying an additional 748 shares during the period. Institutional investors and hedge funds own 93.24% of the company’s stock.

Insider Buying and Selling

In other news, CRO Garrie Richardson sold 3,070 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.12, for a total transaction of $77,118.40. Following the transaction, the executive now owns 114,773 shares in the company, valued at approximately $2,883,097.76. The trade was a 2.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Aby J. Mathew sold 17,604 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $20.05, for a total transaction of $352,960.20. Following the transaction, the executive vice president now owns 284,442 shares in the company, valued at approximately $5,703,062.10. The trade was a 5.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,313 shares of company stock worth $1,572,899 in the last quarter. 2.20% of the stock is currently owned by company insiders.

BioLife Solutions Stock Performance

Shares of BLFS opened at $26.81 on Wednesday. The company has a market capitalization of $1.24 billion, a PE ratio of -25.29 and a beta of 1.91. BioLife Solutions, Inc. has a one year low of $12.45 and a one year high of $28.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. The company’s fifty day moving average price is $24.32 and its 200 day moving average price is $23.32.

Analysts Set New Price Targets

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

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.