Granahan Investment Management LLC lifted its holdings in BioLife Solutions, Inc. (NASDAQ:BLFS – Get Rating) by 40.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 609,604 shares of the medical equipment provider's stock after acquiring an additional 175,172 shares during the quarter. Granahan Investment Management LLC's holdings in BioLife Solutions were worth $13,856,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BLFS. Ranger Investment Management L.P. lifted its stake in BioLife Solutions by 43.0% in the fourth quarter. Ranger Investment Management L.P. now owns 1,255,260 shares of the medical equipment provider's stock valued at $46,784,000 after purchasing an additional 377,358 shares during the last quarter. Invesco Ltd. raised its holdings in BioLife Solutions by 26.9% during the 4th quarter. Invesco Ltd. now owns 769,736 shares of the medical equipment provider's stock valued at $28,688,000 after acquiring an additional 163,176 shares during the period. Barings LLC bought a new stake in BioLife Solutions during the 1st quarter valued at $2,076,000. JPMorgan Chase & Co. raised its holdings in BioLife Solutions by 20.9% during the 4th quarter. JPMorgan Chase & Co. now owns 471,575 shares of the medical equipment provider's stock valued at $17,576,000 after acquiring an additional 81,435 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in BioLife Solutions by 25.8% during the 4th quarter. Nuveen Asset Management LLC now owns 377,764 shares of the medical equipment provider's stock valued at $14,079,000 after acquiring an additional 77,364 shares during the period. Hedge funds and other institutional investors own 86.69% of the company's stock.
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BioLife Solutions stock opened at $26.62 on Friday. The stock has a market cap of $1.13 billion, a P/E ratio of -11.83 and a beta of 1.91. BioLife Solutions, Inc. has a fifty-two week low of $10.40 and a fifty-two week high of $58.80. The firm's fifty day moving average price is $20.70 and its 200-day moving average price is $18.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.54 and a current ratio of 3.55.
Insider Transactions at BioLife Solutions
In other news, CRO Marcus Schulz sold 4,600 shares of the company's stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $20.03, for a total value of $92,138.00. Following the transaction, the executive now owns 36,218 shares of the company's stock, valued at $725,446.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other BioLife Solutions news, COO Greef Roderick De sold 9,158 shares of the company's stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $15.79, for a total transaction of $144,604.82. Following the completion of the sale, the chief operating officer now directly owns 124,458 shares in the company, valued at $1,965,191.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Marcus Schulz sold 4,600 shares of the company's stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $20.03, for a total transaction of $92,138.00. Following the sale, the executive now owns 36,218 shares of the company's stock, valued at $725,446.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,401 shares of company stock valued at $313,764. 3.30% of the stock is currently owned by company insiders.Wall Street Analysts Forecast Growth
BLFS has been the topic of a number of analyst reports. B. Riley lowered their target price on shares of BioLife Solutions from $48.00 to $34.00 in a report on Tuesday, May 17th. Cowen lowered their target price on shares of BioLife Solutions to $29.00 in a report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $31.25.
BioLife Solutions Company Profile
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BioLife Solutions, Inc develops, manufactures, and supplies bioproduction tools and services for the cell and gene therapy industry in the United States, Canada, Europe, the Middle East, Africa, and internationally. The company's products are used in the basic and applied research, and commercial manufacturing of biologic-based therapies.
Further Reading
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