Allspring Global Investments Holdings LLC Reduces Position in BioLife Solutions, Inc. $BLFS

Key Points

• Allspring Global Investments cut its stake in BioLife by 69.1%, selling 55,097 shares in the quarter and now holds 24,622 shares valued at about $595,000.
• Insider Karen A. Foster sold 96,923 shares on March 5 at an average $20.15 (≈$1.95M), a 46% reduction in her holding; insiders have sold ~99,641 shares in the past 90 days and now own 2.20% of the company.
• Analysts have a Moderate Buy consensus with a $32 average price target, while BLFS trades near $19.74 (market cap ≈$953M) and is roughly 93% owned by institutional investors.

Allspring Global Investments Holdings LLC cut its position in BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 69.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,622 shares of the medical equipment provider's stock after selling 55,097 shares during the period. Allspring Global Investments Holdings LLC owned 0.05% of BioLife Solutions worth $595,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of BioLife Solutions by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,967,518 shares of the medical equipment provider's stock valued at $75,701,000 after buying an additional 70,248 shares during the last quarter. Stephens Investment Management Group LLC grew its position in shares of BioLife Solutions by 14.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 608,814 shares of the medical equipment provider's stock valued at $15,531,000 after buying an additional 77,095 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of BioLife Solutions in the 2nd quarter valued at $1,482,000. Summit Creek Advisors LLC purchased a new position in shares of BioLife Solutions in the 3rd quarter valued at $4,905,000. Finally, Campbell & CO Investment Adviser LLC grew its position in shares of BioLife Solutions by 160.5% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 34,533 shares of the medical equipment provider's stock valued at $881,000 after buying an additional 21,277 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BioLife Solutions

In other news, insider Karen A. Foster sold 96,923 shares of BioLife Solutions stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $20.15, for a total transaction of $1,952,998.45. Following the completion of the sale, the insider directly owned 113,742 shares in the company, valued at $2,291,901.30. The trade was a 46.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 99,641 shares of company stock worth $2,009,000 in the last ninety days. Insiders own 2.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Northland Securities set a $34.00 target price on shares of BioLife Solutions in a research report on Monday, January 5th. Wall Street Zen raised shares of BioLife Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, February 28th. UBS Group reissued a "buy" rating on shares of BioLife Solutions in a research report on Monday, December 29th. HC Wainwright reissued a "buy" rating and set a $32.00 price objective on shares of BioLife Solutions in a research report on Monday, December 29th. Finally, Zacks Research raised shares of BioLife Solutions from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.00.

BioLife Solutions Trading Down 3.6%

Shares of BLFS opened at $19.74 on Friday. The stock has a market cap of $953.44 million, a P/E ratio of -179.44 and a beta of 2.00. The company has a 50-day moving average of $20.74 and a two-hundred day moving average of $23.96. BioLife Solutions, Inc. has a 12-month low of $17.86 and a 12-month high of $29.62.

About BioLife Solutions

BioLife Solutions NASDAQ: BLFS specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife's product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company's flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.

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