Farther Finance Advisors LLC Cuts Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

Farther Finance Advisors LLC lowered its position in BioLife Solutions, Inc. (NASDAQ:BLFS) by 65.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,930 shares of the medical equipment provider’s stock after selling 3,699 shares during the quarter. Farther Finance Advisors LLC’s holdings in BioLife Solutions were worth $48,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Raymond James & Associates increased its position in shares of BioLife Solutions by 4.3% in the third quarter. Raymond James & Associates now owns 139,997 shares of the medical equipment provider’s stock valued at $3,506,000 after buying an additional 5,803 shares in the last quarter. GAMMA Investing LLC increased its position in shares of BioLife Solutions by 29.4% in the third quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock valued at $83,000 after buying an additional 748 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of BioLife Solutions in the third quarter valued at $425,000. Meros Investment Management LP increased its position in shares of BioLife Solutions by 1.7% in the second quarter. Meros Investment Management LP now owns 399,803 shares of the medical equipment provider’s stock valued at $8,568,000 after buying an additional 6,586 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of BioLife Solutions by 5.8% in the second quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock valued at $296,000 after buying an additional 753 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BLFS. TD Cowen raised their price target on BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday. HC Wainwright started coverage on BioLife Solutions in a research report on Monday, September 30th. They set a “buy” rating and a $29.00 price objective for the company. Northland Securities lifted their price objective on BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, Craig Hallum lifted their price objective on BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.83.

Insiders Place Their Bets

In other BioLife Solutions news, EVP Aby J. Mathew sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total value of $239,000.00. Following the sale, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the sale, the executive now directly owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the completion of the transaction, the executive vice president now directly owns 317,716 shares in the company, valued at $7,593,412.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,044 shares of company stock valued at $645,105. Insiders own 2.20% of the company’s stock.

BioLife Solutions Stock Down 9.0 %

Shares of NASDAQ:BLFS opened at $24.11 on Thursday. The stock’s 50-day moving average price is $24.11 and its two-hundred day moving average price is $22.73. The company has a current ratio of 2.86, a quick ratio of 1.81 and a debt-to-equity ratio of 0.04. BioLife Solutions, Inc. has a 12-month low of $11.00 and a 12-month high of $28.88. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -22.75 and a beta of 1.88.

BioLife Solutions Company 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.