First Trust Capital Management L.P. Purchases 1,425,085 Shares of BioLife Solutions, Inc. $BLFS

Key Points

• First Trust Capital Management bought 1,425,085 BioLife Solutions shares, worth about $55.4 million, giving it a 2.91% stake and making BLFS its eighth-largest portfolio holding.
• Other institutional investors also initiated positions, and institutions collectively own 93.24% of the company’s shares.
• Analyst sentiment is largely cautious: 10 analysts rate BLFS Hold and one rates it Buy, with a consensus price target of $31.38.

First Trust Capital Management L.P. purchased a new stake in BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,425,085 shares of the medical equipment provider's stock, valued at approximately $55,365,000. BioLife Solutions comprises approximately 2.7% of First Trust Capital Management L.P.'s portfolio, making the stock its 8th largest holding. First Trust Capital Management L.P. owned 2.91% of BioLife Solutions as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Squarepoint Ops LLC bought a new stake in shares of BioLife Solutions during the second quarter worth about $3,754,000. Tidal Investments LLC bought a new position in BioLife Solutions in the 2nd quarter valued at approximately $819,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in BioLife Solutions during the 2nd quarter worth approximately $4,346,000. Hsbc Holdings PLC bought a new position in shares of BioLife Solutions during the first quarter valued at $874,000. Finally, Ranger Investment Management L.P. acquired a new position in shares of BioLife Solutions during the second quarter worth $6,736,000. Institutional investors own 93.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Stephens downgraded BioLife Solutions from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $32.00 to $31.00 in a report on Monday, July 27th. Wall Street Zen downgraded BioLife Solutions from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. William Blair set a $31.00 price target on BioLife Solutions in a research report on Thursday, July 23rd. Zacks Research cut BioLife Solutions from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 21st. Finally, Jefferies Financial Group downgraded BioLife Solutions from a "buy" rating to a "hold" rating and raised their price objective for the stock from $30.00 to $31.00 in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $31.38.

BioLife Solutions Price Performance

BLFS stock opened at $38.61 on Friday. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 33.28 and a beta of 1.82. BioLife Solutions, Inc. has a 12-month low of $17.86 and a 12-month high of $39.76. The company's fifty day simple moving average is $37.87 and its 200 day simple moving average is $28.57.

BioLife Solutions Company Profile

BioLife Solutions, Inc. develops and supplies products and services used in the development and commercial production of cell and gene therapies and other biologic medicines. Its offerings support the handling, preservation, storage and distribution of sensitive biological materials. The company's products include CryoStor and HypoThermosol preservation media, as well as CellSeal bags designed for cryogenic storage. BioLife also provides temperature-controlled storage and repository services for biological materials through its SciSafe business.

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