Massachusetts Financial Services Co. MA Sells 93,188 Shares of BioLife Solutions, Inc. $BLFS

Key Points

• Massachusetts Financial Services Co. cut its stake in BioLife Solutions by 8.5%, selling 93,188 shares and leaving it with 1,004,164 shares (about 2.09% of the company) valued at roughly $24.3 million.
• Insiders, led by Karen A. Foster, sold significant stock recently—Foster sold 96,923 shares for about $1.95 million on March 5—and insiders disposed of 99,641 shares (~$2.01 million) over the last quarter (insider ownership now ~2.20%).
• BioLife shares opened at $21.19 (up ~4.5%), the company has a market cap of ~$1.02 billion, and analysts have an average rating of "Moderate Buy" with an average price target of $32.00.

Massachusetts Financial Services Co. MA lessened its holdings in BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 8.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,004,164 shares of the medical equipment provider's stock after selling 93,188 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.09% of BioLife Solutions worth $24,281,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Amalgamated Bank grew its position in shares of BioLife Solutions by 3.5% during the 3rd quarter. Amalgamated Bank now owns 10,898 shares of the medical equipment provider's stock worth $278,000 after buying an additional 366 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of BioLife Solutions by 2.9% during the 3rd quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the medical equipment provider's stock worth $454,000 after buying an additional 500 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of BioLife Solutions by 2.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,764 shares of the medical equipment provider's stock worth $447,000 after buying an additional 555 shares in the last quarter. Hantz Financial Services Inc. grew its position in shares of BioLife Solutions by 54.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,877 shares of the medical equipment provider's stock worth $48,000 after buying an additional 659 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of BioLife Solutions by 2.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 27,278 shares of the medical equipment provider's stock worth $588,000 after buying an additional 702 shares in the last quarter. Institutional investors own 93.24% of the company's stock.

BioLife Solutions Stock Up 4.5%

BioLife Solutions stock opened at $21.19 on Thursday. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -192.62 and a beta of 2.00. BioLife Solutions, Inc. has a 52 week low of $17.86 and a 52 week high of $29.62. The business's 50-day moving average price is $20.61 and its 200 day moving average price is $23.87.

Insider Buying and Selling

In other BioLife Solutions news, insider Karen A. Foster sold 96,923 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $20.15, for a total value of $1,952,998.45. Following the sale, the insider directly owned 113,742 shares of the company's stock, valued at approximately $2,291,901.30. This trade represents a 46.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 99,641 shares of company stock worth $2,009,000 over the last quarter. 2.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BLFS shares. Northland Securities set a $34.00 price objective on BioLife Solutions in a research note on Monday, January 5th. Wall Street Zen upgraded BioLife Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. HC Wainwright restated a "buy" rating and set a $32.00 price objective on shares of BioLife Solutions in a research note on Monday, December 29th. Weiss Ratings restated a "sell (d-)" rating on shares of BioLife Solutions in a research note on Wednesday, January 21st. Finally, Zacks Research upgraded BioLife Solutions from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $32.00.

BioLife Solutions Profile

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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