Granahan Investment Management LLC Sells 897,989 Shares of Harvard Bioscience, Inc. $HBIO

Granahan Investment Management LLC cut its holdings in Harvard Bioscience, Inc. (NASDAQ:HBIO) by 59.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 603,519 shares of the medical instruments supplier’s stock after selling 897,989 shares during the quarter. Granahan Investment Management LLC’s holdings in Harvard Bioscience were worth $265,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bank of America Corp DE lifted its position in Harvard Bioscience by 44.4% during the 4th quarter. Bank of America Corp DE now owns 38,883 shares of the medical instruments supplier’s stock worth $82,000 after buying an additional 11,948 shares in the last quarter. Jane Street Group LLC increased its position in Harvard Bioscience by 491.9% in the 2nd quarter. Jane Street Group LLC now owns 70,736 shares of the medical instruments supplier’s stock valued at $31,000 after acquiring an additional 58,785 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Harvard Bioscience by 7.8% in the first quarter. Acadian Asset Management LLC now owns 1,077,069 shares of the medical instruments supplier’s stock worth $606,000 after acquiring an additional 78,276 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Harvard Bioscience by 278.3% in the third quarter. Assenagon Asset Management S.A. now owns 139,220 shares of the medical instruments supplier’s stock worth $61,000 after acquiring an additional 102,419 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Harvard Bioscience during the second quarter worth approximately $61,000. 80.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on HBIO. Zacks Research raised shares of Harvard Bioscience to a “hold” rating in a research note on Thursday, December 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Harvard Bioscience in a research report on Monday, December 29th. New Street Research set a $6.00 price objective on Harvard Bioscience in a report on Friday. Wall Street Zen upgraded Harvard Bioscience from a “hold” rating to a “buy” rating in a research report on Monday, November 17th. Finally, Benchmark lowered their target price on Harvard Bioscience from $20.00 to $6.00 and set a “speculative buy” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.00.

Harvard Bioscience Price Performance

Shares of NASDAQ:HBIO opened at $5.01 on Tuesday. The stock has a market cap of $22.40 million, a price-to-earnings ratio of -3.91 and a beta of 1.51. The company has a 50 day moving average of $5.67 and a 200-day moving average of $5.66. Harvard Bioscience, Inc. has a one year low of $2.81 and a one year high of $9.50.

About Harvard Bioscience

Harvard Bioscience, Inc develops, manufactures and distributes life science research instruments and consumables used by academic, biopharmaceutical and government laboratories worldwide. The company’s product portfolio spans cellular physiology, microfluidics, electrophysiology and lab automation, providing tools that enable researchers to study everything from cell behavior and organ function to drug delivery and tissue mechanics.

Through its operating units—most notably Harvard Apparatus, BTX, Radnoti and Warner Instruments—Harvard Bioscience offers a diverse range of scientific equipment including precision pumps, stereotaxic instruments, electroporation and gene delivery systems, perfusion systems and microinjection tools.