BioLife Solutions, Inc. (NASDAQ:BLFS) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC reduced its holdings in BioLife Solutions, Inc. (NASDAQ:BLFS) by 9.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,571,570 shares of the medical equipment provider’s stock after selling 155,142 shares during the quarter. William Blair Investment Management LLC owned about 3.41% of BioLife Solutions worth $33,679,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BLFS. Millrace Asset Group Inc. boosted its position in shares of BioLife Solutions by 116.0% during the 4th quarter. Millrace Asset Group Inc. now owns 105,643 shares of the medical equipment provider’s stock worth $1,717,000 after purchasing an additional 56,726 shares in the last quarter. Isthmus Partners LLC grew its position in BioLife Solutions by 13.3% during the fourth quarter. Isthmus Partners LLC now owns 77,082 shares of the medical equipment provider’s stock worth $1,253,000 after buying an additional 9,025 shares during the period. Ranger Investment Management L.P. increased 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 buying an additional 22,906 shares in the last quarter. Granahan Investment Management LLC lifted its position in shares of BioLife Solutions by 22.8% during the 4th 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 during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of BioLife Solutions by 1,038.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock worth $39,031,000 after acquiring an additional 2,191,002 shares in the last quarter. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

BioLife Solutions Stock Up 3.5 %

Shares of NASDAQ:BLFS opened at $25.12 on Friday. 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 company has a market capitalization of $1.16 billion, a P/E ratio of -17.69 and a beta of 1.87. BioLife Solutions, Inc. has a 52-week low of $8.92 and a 52-week high of $26.73. The stock’s fifty day simple moving average is $23.70 and its 200-day simple moving average is $20.68.

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

Insiders Place Their Bets

In other BioLife Solutions news, insider Sarah Aebersold sold 3,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $21.03, for a total transaction of $63,090.00. Following the transaction, the insider now owns 61,683 shares of the company’s stock, valued at approximately $1,297,193.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Northland Securities raised their price objective on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Craig Hallum boosted their price objective 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. Finally, TD Cowen raised their target price on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.20.

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.