Granahan Investment Management LLC Sells 17,507 Shares of BioLife Solutions, Inc. $BLFS

Key Points

• Granahan Investment Management LLC reduced its stake in BioLife Solutions by 3.8%, now owning approximately $10 million worth of the company's stock.
• Several institutional investors, including Stifel Financial Corp and Deutsche Bank AG, increased their holdings in BioLife Solutions during the recent quarter.
• Analysts have varied opinions on the stock, with Zacks Research upgrading it to a "strong-buy" rating, while other firms set mixed target prices, indicating differing outlooks on its future performance.

Granahan Investment Management LLC decreased its stake in BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 439,500 shares of the medical equipment provider's stock after selling 17,507 shares during the period. Granahan Investment Management LLC owned approximately 0.93% of BioLife Solutions worth $10,038,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BLFS. T. Rowe Price Investment Management Inc. acquired a new stake in shares of BioLife Solutions in the first quarter worth $30,789,000. Royal Bank of Canada boosted its stake in BioLife Solutions by 762.8% during the first quarter. Royal Bank of Canada now owns 698,251 shares of the medical equipment provider's stock worth $15,948,000 after buying an additional 617,320 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in BioLife Solutions during the fourth quarter worth $11,113,000. Millennium Management LLC boosted its stake in BioLife Solutions by 49.1% during the fourth quarter. Millennium Management LLC now owns 1,145,347 shares of the medical equipment provider's stock worth $29,733,000 after buying an additional 377,111 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in BioLife Solutions by 9.6% during the first quarter. Invesco Ltd. now owns 3,551,054 shares of the medical equipment provider's stock worth $81,106,000 after buying an additional 311,585 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company's stock.

Insider Transactions at BioLife Solutions

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

BioLife Solutions Trading Up 0.0%

Shares of BioLife Solutions stock traded up $0.01 during trading on Wednesday, reaching $26.41. The company's stock had a trading volume of 73,189 shares, compared to its average volume of 476,471. The stock has a 50-day moving average price of $23.29 and a two-hundred day moving average price of $23.27. BioLife Solutions, Inc. has a one year low of $19.10 and a one year high of $29.55. The stock has a market capitalization of $1.27 billion, a P/E ratio of -220.22 and a beta of 1.78.

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

Wall Street Analysts Forecast Growth

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

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.