Fred Alger Management LLC Lowers Holdings in BioLife Solutions, Inc. (NASDAQ:BLFS)

Fred Alger Management LLC lowered its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,577,947 shares of the medical equipment provider’s stock after selling 1,191 shares during the period. Fred Alger Management LLC owned 3.42% of BioLife Solutions worth $39,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of BLFS. State Board of Administration of Florida Retirement System purchased a new stake in BioLife Solutions during the first quarter worth $229,000. Vanguard Group Inc. lifted its holdings in BioLife Solutions by 11.5% during the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock worth $53,208,000 after buying an additional 296,727 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in BioLife Solutions by 11.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 33,158 shares of the medical equipment provider’s stock worth $614,000 after buying an additional 3,464 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in BioLife Solutions by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,129 shares of the medical equipment provider’s stock worth $281,000 after buying an additional 1,374 shares during the period. Finally, Bard Financial Services Inc. lifted its holdings in BioLife Solutions by 42.4% during the second quarter. Bard Financial Services Inc. now owns 190,300 shares of the medical equipment provider’s stock worth $4,078,000 after buying an additional 56,665 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BLFS. HC Wainwright decreased their price objective on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a report on Monday, November 18th. Northland Securities increased their price objective on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Craig Hallum increased their price objective on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, TD Cowen increased their price objective on BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

BioLife Solutions Price Performance

NASDAQ BLFS opened at $27.16 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. The stock’s fifty day moving average price is $24.19 and its 200 day moving average price is $23.19. BioLife Solutions, Inc. has a 1 year low of $11.91 and a 1 year high of $28.88. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -25.62 and a beta of 1.88.

Insider Activity at BioLife Solutions

In related news, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the transaction, the executive now directly owns 114,773 shares of the company’s stock, valued at $2,883,097.76. This represents a 2.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $23.28, for a total value of $232,800.00. Following the completion of the transaction, the executive vice president now directly owns 317,716 shares in the company, valued at approximately $7,396,428.48. The trade was a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,644 shares of company stock valued at $1,527,503 in the last ninety days. Company insiders own 2.20% of the company’s stock.

BioLife Solutions Profile

BioLife Solutions, Inc develops, manufactures, and markets bioproduction tools and services for the cell and gene therapy (CGT) industry in the United States, 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.