BioLife Solutions, Inc. $BLFS Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC decreased its holdings in BioLife Solutions, Inc. (NASDAQ:BLFS) by 39.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 392,096 shares of the medical equipment provider’s stock after selling 251,104 shares during the period. Granahan Investment Management LLC owned about 0.81% of BioLife Solutions worth $10,002,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of BLFS. Hantz Financial Services Inc. raised 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 valued at $48,000 after acquiring an additional 659 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings 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 worth $83,000 after purchasing an additional 441 shares during the period. PNC Financial Services Group Inc. increased its holdings 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 worth $113,000 after purchasing an additional 1,994 shares during the period. Strs Ohio acquired a new stake in BioLife Solutions in the 1st quarter valued at about $153,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of 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 valued at $154,000 after buying an additional 6,032 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

BioLife Solutions Stock Performance

NASDAQ:BLFS opened at $18.36 on Monday. The stock has a 50-day simple moving average of $22.81 and a 200-day simple moving average of $24.83. The stock has a market cap of $886.79 million, a P/E ratio of -166.89 and a beta of 1.90. BioLife Solutions, Inc. has a 1 year low of $17.86 and a 1 year high of $29.62.

Analysts Set New Price Targets

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

Insider Activity

In other BioLife Solutions news, insider Karen A. Foster sold 96,923 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 113,742 shares in the company, valued at $2,291,901.30. This represents a 46.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Troy Wichterman sold 990 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 150,746 shares in the company, valued at approximately $3,857,590.14. The trade was a 0.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 101,956 shares of company stock worth $2,068,241 in the last three months. Corporate insiders own 2.20% of the company’s stock.

BioLife Solutions Profile

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.