Victory Capital Management Inc. Reduces Stock Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

Victory Capital Management Inc. lessened its holdings in BioLife Solutions, Inc. (NASDAQ:BLFS) by 11.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,785 shares of the medical equipment provider’s stock after selling 11,078 shares during the period. Victory Capital Management Inc. owned 0.18% of BioLife Solutions worth $1,817,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Millrace Asset Group Inc. grew its stake in BioLife Solutions by 116.0% in the 4th quarter. Millrace Asset Group Inc. now owns 105,643 shares of the medical equipment provider’s stock worth $1,717,000 after acquiring an additional 56,726 shares during the period. Isthmus Partners LLC grew its position in BioLife Solutions by 13.3% in the fourth quarter. Isthmus Partners LLC now owns 77,082 shares of the medical equipment provider’s stock valued at $1,253,000 after acquiring an additional 9,025 shares in the last quarter. Ranger Investment Management L.P. boosted its holdings in BioLife Solutions by 6.7% in the fourth quarter. Ranger Investment Management L.P. now owns 363,574 shares of the medical equipment provider’s stock valued at $5,908,000 after purchasing an additional 22,906 shares during the last quarter. Granahan Investment Management LLC raised its holdings in BioLife Solutions by 22.8% in the fourth quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock valued at $21,006,000 after acquiring an additional 240,001 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in BioLife Solutions by 1,038.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock valued at $39,031,000 after buying an additional 2,191,002 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Analyst Ratings Changes

BLFS has been the topic of a number of recent research reports. Craig Hallum raised their price target on shares of BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Northland Securities increased their price objective on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, TD Cowen lifted their price objective on shares of BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.20.

BioLife Solutions Trading Up 1.2 %

BioLife Solutions stock opened at $23.72 on Thursday. BioLife Solutions, Inc. has a 12 month low of $8.92 and a 12 month high of $26.73. The company’s fifty day simple moving average is $23.89 and its 200-day simple moving average is $20.81. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.09 billion, a P/E ratio of -16.70 and a beta of 1.87.

BioLife Solutions (NASDAQ:BLFS) last posted its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.08. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. The company had revenue of $28.33 million for the quarter, compared to analyst estimates of $23.80 million. As a group, sell-side analysts forecast that BioLife Solutions, Inc. will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling at BioLife Solutions

In other news, insider Sarah Aebersold sold 3,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $21.03, for a total value of $63,090.00. Following the sale, the insider now owns 61,683 shares in the company, valued at $1,297,193.49. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the completion of the transaction, the executive now owns 114,773 shares in the company, valued at $2,883,097.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sarah Aebersold sold 3,000 shares of BioLife Solutions stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $21.03, for a total value of $63,090.00. Following the completion of the transaction, the insider now directly owns 61,683 shares of the company’s stock, valued at $1,297,193.49. The disclosure for this sale can be found here. Insiders sold 9,944 shares of company stock worth $229,709 over the last ninety days. Company insiders own 2.20% of the company’s stock.

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.