BioLife Solutions, Inc. $BLFS Stock Position Cut by Fred Alger Management LLC

Fred Alger Management LLC lessened its stake in BioLife Solutions, Inc. (NASDAQ:BLFS) by 2.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,083,838 shares of the medical equipment provider’s stock after selling 25,084 shares during the period. Fred Alger Management LLC’s holdings in BioLife Solutions were worth $26,207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BLFS. Capricorn Fund Managers Ltd bought a new position in BioLife Solutions in the 4th quarter valued at about $9,153,000. Qube Research & Technologies Ltd grew its position in BioLife Solutions by 2,399.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 248,474 shares of the medical equipment provider’s stock valued at $5,352,000 after buying an additional 238,533 shares in the last quarter. Heights Point Management LP bought a new position in BioLife Solutions in the 4th quarter valued at about $5,260,000. Vanguard Group Inc. grew its position in BioLife Solutions by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 3,087,386 shares of the medical equipment provider’s stock valued at $74,653,000 after buying an additional 119,868 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in BioLife Solutions by 11.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,080,371 shares of the medical equipment provider’s stock valued at $23,271,000 after buying an additional 109,959 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BLFS. Weiss Ratings reiterated a “sell (d-)” rating on shares of BioLife Solutions in a research report on Monday, April 20th. Zacks Research lowered shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen upgraded shares of BioLife Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, BioLife Solutions presently has an average rating of “Hold” and a consensus price target of $32.00.

Insider Activity

In other BioLife Solutions news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $23.70, for a total value of $15,405,000.00. Following the transaction, the insider owned 4,757,165 shares of the company’s stock, valued at approximately $112,744,810.50. This represents a 12.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,200,000 shares of company stock valued at $28,125,000 over the last quarter. 2.20% of the stock is currently owned by corporate insiders.

BioLife Solutions Stock Performance

NASDAQ BLFS opened at $26.36 on Wednesday. The stock has a market capitalization of $1.29 billion, a P/E ratio of -329.46 and a beta of 2.00. BioLife Solutions, Inc. has a 1 year low of $17.86 and a 1 year high of $29.62. The business’s fifty day moving average is $23.05 and its two-hundred day moving average is $22.95.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings results on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. The company had revenue of $27.50 million for the quarter, compared to analysts’ expectations of $25.66 million. BioLife Solutions had a positive return on equity of 1.81% and a negative net margin of 2.80%. On average, research analysts forecast that BioLife Solutions, Inc. will post 0.07 earnings per share for the current year.

BioLife Solutions Company 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.