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

Granahan Investment Management LLC cut its stake in BioLife Solutions, Inc. (NASDAQ:BLFS) by 39.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 392,096 shares of the medical equipment provider’s stock after selling 251,104 shares during the period. Granahan Investment Management LLC’s holdings in BioLife Solutions were worth $10,002,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Invesco Ltd. boosted its stake in BioLife Solutions by 0.5% in the third quarter. Invesco Ltd. now owns 3,599,444 shares of the medical equipment provider’s stock valued at $91,822,000 after acquiring an additional 18,666 shares in the last quarter. Vanguard Group Inc. increased its position in shares of BioLife Solutions by 2.4% during the third quarter. Vanguard Group Inc. now owns 2,967,518 shares of the medical equipment provider’s stock worth $75,701,000 after purchasing an additional 70,248 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of 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 purchasing an additional 109,959 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of BioLife Solutions by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,003,383 shares of the medical equipment provider’s stock valued at $25,592,000 after purchasing an additional 20,175 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of BioLife Solutions by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 921,105 shares of the medical equipment provider’s stock valued at $19,842,000 after purchasing an additional 33,849 shares during the period. Institutional investors and hedge funds own 93.24% of the company’s stock.

Insider Activity at BioLife Solutions

In other BioLife Solutions news, insider Karen A. Foster sold 96,923 shares of BioLife Solutions stock in a transaction that occurred on Thursday, March 5th. The stock was 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 approximately $2,291,901.30. This trade represents a 46.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Troy Wichterman sold 990 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $25.59, for a total value of $25,334.10. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 101,956 shares of company stock valued at $2,068,241. 2.20% of the stock is owned by company insiders.

BioLife Solutions Stock Performance

Shares of BLFS opened at $18.36 on Monday. BioLife Solutions, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $29.62. The firm has a 50-day simple moving average of $22.81 and a 200-day simple moving average of $24.83. The company 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

A number of research analysts recently issued reports on BLFS shares. Northland Securities set a $34.00 price target on BioLife Solutions in a research note on Monday, January 5th. UBS Group reiterated a “buy” rating on shares of BioLife Solutions in a research note on Monday, December 29th. Wall Street Zen raised BioLife Solutions from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Zacks Research upgraded shares of BioLife Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $32.00 target price on shares of BioLife Solutions in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

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.