Granahan Investment Management LLC Sells 201,627 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

Granahan Investment Management LLC lowered its stake in BioLife Solutions, Inc. (NASDAQ:BLFS) by 30.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 457,007 shares of the medical equipment provider’s stock after selling 201,627 shares during the period. Granahan Investment Management LLC owned approximately 0.99% of BioLife Solutions worth $11,864,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Proficio Capital Partners LLC bought a new position in BioLife Solutions in the 4th quarter valued at about $638,000. Alliancebernstein L.P. boosted its position in shares of BioLife Solutions by 11.9% during the 4th quarter. Alliancebernstein L.P. now owns 37,351 shares of the medical equipment provider’s stock worth $970,000 after acquiring an additional 3,967 shares in the last quarter. Barclays PLC increased its stake in BioLife Solutions by 20.1% in the third quarter. Barclays PLC now owns 64,423 shares of the medical equipment provider’s stock valued at $1,613,000 after acquiring an additional 10,803 shares during the last quarter. Envestnet Asset Management Inc. raised its position in BioLife Solutions by 18.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 198,695 shares of the medical equipment provider’s stock valued at $5,158,000 after purchasing an additional 31,167 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in BioLife Solutions by 422.2% during the fourth quarter. Victory Capital Management Inc. now owns 218,962 shares of the medical equipment provider’s stock worth $5,684,000 after purchasing an additional 177,028 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

BioLife Solutions Trading Up 3.9 %

NASDAQ BLFS opened at $23.24 on Friday. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -21.92 and a beta of 2.01. BioLife Solutions, Inc. has a twelve month low of $17.70 and a twelve month high of $29.55. The company has a quick ratio of 1.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average is $23.84 and its 200 day moving average is $25.27.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings results on Thursday, May 8th. The medical equipment provider reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. As a group, sell-side analysts expect that BioLife Solutions, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity

In related news, insider Sarah Aebersold sold 5,771 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $22.66, for a total value of $130,770.86. Following the completion of the sale, the insider now directly owns 80,094 shares in the company, valued at $1,814,930.04. This represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Aby J. Mathew sold 1,597 shares of BioLife Solutions stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total value of $39,925.00. Following the transaction, the executive vice president now directly owns 260,601 shares in the company, valued at $6,515,025. The trade was a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,127 shares of company stock valued at $1,676,533. Insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BLFS. StockNews.com lowered BioLife Solutions from a “hold” rating to a “sell” rating in a research note on Thursday, April 24th. HC Wainwright lifted their target price on BioLife Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat, BioLife Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $31.17.

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.