Harbour Capital Advisors LLC Makes New $361,000 Investment in BioLife Solutions, Inc. (NASDAQ:BLFS)

Harbour Capital Advisors LLC purchased a new stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 13,650 shares of the medical equipment provider’s stock, valued at approximately $361,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rhumbline Advisers increased its position in shares of BioLife Solutions by 4.7% in the 2nd quarter. Rhumbline Advisers now owns 87,473 shares of the medical equipment provider’s stock valued at $1,875,000 after acquiring an additional 3,912 shares during the period. Arizona State Retirement System purchased a new stake in BioLife Solutions during the 2nd quarter valued at about $217,000. Texas Permanent School Fund Corp increased its holdings in shares of BioLife Solutions by 8.7% in the second quarter. Texas Permanent School Fund Corp now owns 33,859 shares of the medical equipment provider’s stock valued at $726,000 after purchasing an additional 2,714 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of BioLife Solutions by 84.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 33,296 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 15,252 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of BioLife Solutions by 261.5% during the second quarter. Envestnet Asset Management Inc. now owns 127,215 shares of the medical equipment provider’s stock worth $2,726,000 after purchasing an additional 92,021 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. HC Wainwright cut their price target on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, November 18th. KeyCorp raised their target price on shares of BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Craig Hallum upped their price target on shares of BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Benchmark reiterated a “buy” rating and set a $30.00 price objective on shares of BioLife Solutions in a research note on Thursday, December 19th. Finally, Northland Securities upped their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, BioLife Solutions presently has an average rating of “Moderate Buy” and an average price target of $29.43.

Insider Buying and Selling at BioLife Solutions

In other news, CFO Troy Wichterman sold 987 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $27.02, for a total transaction of $26,668.74. Following the transaction, the chief financial officer now owns 121,779 shares in the company, valued at $3,290,468.58. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Aby J. Mathew sold 17,604 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $20.05, for a total transaction of $352,960.20. Following the completion of the sale, the executive vice president now directly owns 284,442 shares of the company’s stock, valued at approximately $5,703,062.10. The trade was a 5.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,129 shares of company stock valued at $2,344,018. Company insiders own 2.20% of the company’s stock.

BioLife Solutions Price Performance

NASDAQ:BLFS opened at $26.97 on Tuesday. The stock has a market capitalization of $1.25 billion, a PE ratio of -25.44 and a beta of 1.92. The stock’s 50-day moving average price is $26.04 and its 200-day moving average price is $24.37. The company has a quick ratio of 1.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.03. BioLife Solutions, Inc. has a 52 week low of $14.50 and a 52 week high of $28.88.

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.