Fred Alger Management LLC Decreases Stock Holdings in BioLife Solutions, Inc. $BLFS

Key Points

• Fred Alger Management LLC reduced its stake in BioLife Solutions by 3.8% in Q1, now holding 1,533,122 shares valued at approximately $35 million.
• Several institutional investors have made significant investments in BioLife Solutions, with Royal Bank of Canada increasing its stake by 762.8% in the same quarter.
• BioLife Solutions reported a loss of ($0.33) EPS in its latest earnings, missing expectations, despite generating revenue of $25.42 million which exceeded analyst forecasts.

Fred Alger Management LLC lessened its holdings in BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 3.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,533,122 shares of the medical equipment provider's stock after selling 61,099 shares during the period. Fred Alger Management LLC owned approximately 3.23% of BioLife Solutions worth $35,017,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BLFS. Point72 Asia Singapore Pte. Ltd. purchased a new position in BioLife Solutions in the 4th quarter valued at approximately $31,000. State of Wyoming raised its holdings in shares of BioLife Solutions by 353.1% in the 1st quarter. State of Wyoming now owns 1,912 shares of the medical equipment provider's stock valued at $44,000 after purchasing an additional 1,490 shares in the last quarter. US Bancorp DE raised its holdings in shares of BioLife Solutions by 243.7% in the 1st quarter. US Bancorp DE now owns 2,155 shares of the medical equipment provider's stock valued at $49,000 after purchasing an additional 1,528 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of BioLife Solutions by 18.6% in the 1st quarter. GAMMA Investing LLC now owns 4,223 shares of the medical equipment provider's stock valued at $96,000 after purchasing an additional 663 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in shares of BioLife Solutions by 16.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 9,077 shares of the medical equipment provider's stock valued at $207,000 after purchasing an additional 1,250 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BLFS shares. Zacks Research upgraded shares of BioLife Solutions to a "strong-buy" rating in a report on Monday, August 11th. HC Wainwright restated a "buy" rating and issued a $32.00 price objective (up from $30.00) on shares of BioLife Solutions in a report on Friday, August 8th. Stephens started coverage on shares of BioLife Solutions in a report on Tuesday, July 22nd. They issued an "overweight" rating and a $30.00 price objective on the stock. Finally, Wall Street Zen lowered shares of BioLife Solutions from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $31.29.

BioLife Solutions Trading Down 4.6%

NASDAQ:BLFS traded down $1.23 during midday trading on Friday, hitting $25.51. 558,828 shares of the company were exchanged, compared to its average volume of 452,126. The company has a fifty day simple moving average of $23.47 and a 200 day simple moving average of $23.29. BioLife Solutions, Inc. has a fifty-two week low of $19.10 and a fifty-two week high of $29.55. The company has a market capitalization of $1.22 billion, a PE ratio of -212.57 and a beta of 1.78.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.31). BioLife Solutions had a positive return on equity of 0.16% and a negative net margin of 5.39%.The company had revenue of $25.42 million for the quarter, compared to analyst estimates of $23.71 million. BioLife Solutions has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that BioLife Solutions, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling at BioLife Solutions

In other BioLife Solutions news, major shareholder Casdin Partners Master Fund, L sold 500,000 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $24.40, for a total transaction of $12,200,000.00. Following the transaction, the insider directly owned 6,707,165 shares of the company's stock, valued at approximately $163,654,826. This trade represents a 6.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Todd Berard sold 10,000 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $25.53, for a total transaction of $255,300.00. Following the transaction, the chief marketing officer directly owned 124,618 shares in the company, valued at $3,181,497.54. The trade was a 7.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,016,359 shares of company stock worth $23,902,747 over the last three months. 2.20% of the stock is currently owned by insiders.

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.