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

Fred Alger Management LLC decreased its holdings in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 11.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,108,922 shares of the medical equipment provider’s stock after selling 139,106 shares during the quarter. Fred Alger Management LLC’s holdings in BioLife Solutions were worth $28,289,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BLFS. Hantz Financial Services Inc. lifted its stake in shares of BioLife Solutions by 54.1% in the third quarter. Hantz Financial Services Inc. now owns 1,877 shares of the medical equipment provider’s stock worth $48,000 after buying an additional 659 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in BioLife Solutions by 12.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,873 shares of the medical equipment provider’s stock valued at $83,000 after acquiring an additional 441 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in BioLife Solutions by 82.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,425 shares of the medical equipment provider’s stock valued at $113,000 after acquiring an additional 1,994 shares in the last quarter. Strs Ohio acquired a new stake in BioLife Solutions in the 1st quarter valued at about $153,000. Finally, Tower Research Capital LLC TRC lifted its stake in BioLife Solutions by 547.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,133 shares of the medical equipment provider’s stock worth $154,000 after purchasing an additional 6,032 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

BioLife Solutions Price Performance

NASDAQ:BLFS opened at $18.36 on Monday. The company’s 50-day moving average is $22.81 and its two-hundred day moving average is $24.83. BioLife Solutions, Inc. has a 1-year low of $17.86 and a 1-year high of $29.62. The firm has a market capitalization of $886.79 million, a price-to-earnings ratio of -166.89 and a beta of 1.90.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other BioLife Solutions news, CFO Troy Wichterman sold 990 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $25.59, for a total transaction of $25,334.10. Following the completion of the sale, the chief financial officer owned 150,746 shares of the company’s stock, valued at $3,857,590.14. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karen A. Foster sold 96,923 shares of BioLife Solutions stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $20.15, for a total value of $1,952,998.45. Following the completion of the sale, the insider owned 113,742 shares in the company, valued at $2,291,901.30. This represents a 46.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 101,956 shares of company stock worth $2,068,241 over the last quarter. 2.20% of the stock is currently owned by 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.