Granahan Investment Management LLC Grows Stake in BioLife Solutions, Inc. $BLFS

Granahan Investment Management LLC raised its holdings in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 23.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 482,356 shares of the medical equipment provider’s stock after purchasing an additional 90,260 shares during the period. Granahan Investment Management LLC’s holdings in BioLife Solutions were worth $11,663,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Kemnay Advisory Services Inc. purchased a new position in BioLife Solutions during the 4th quarter valued at about $35,000. Barclays PLC increased its position in BioLife Solutions by 18.0% during the 4th quarter. Barclays PLC now owns 64,094 shares of the medical equipment provider’s stock valued at $1,550,000 after purchasing an additional 9,792 shares during the period. Heights Point Management LP purchased a new position in BioLife Solutions during the 4th quarter valued at about $5,260,000. First Trust Advisors LP purchased a new position in BioLife Solutions during the 4th quarter valued at about $1,218,000. Finally, Charles Schwab Investment Management Inc. increased its position in BioLife Solutions by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 379,741 shares of the medical equipment provider’s stock valued at $9,182,000 after purchasing an additional 10,206 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Insider Activity

In other news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of BioLife Solutions stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $23.70, for a total value of $15,405,000.00. Following the transaction, the insider directly owned 4,757,165 shares in the company, valued at approximately $112,744,810.50. This trade represents a 12.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 1,200,000 shares of company stock valued at $28,125,000. Company insiders own 2.20% of the company’s stock.

BioLife Solutions Trading Down 1.2%

Shares of NASDAQ:BLFS opened at $26.36 on Wednesday. BioLife Solutions, Inc. has a 12-month low of $17.86 and a 12-month high of $29.62. The business’s fifty day simple moving average is $23.05 and its 200-day simple moving average is $22.95. The company has a market capitalization of $1.29 billion, a PE ratio of -329.46 and a beta of 2.00.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings results on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. BioLife Solutions had a positive return on equity of 1.81% and a negative net margin of 2.80%.The business had revenue of $27.50 million for the quarter, compared to the consensus estimate of $25.66 million. Research analysts predict that BioLife Solutions, Inc. will post 0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of BioLife Solutions in a research report on Monday, April 20th. Zacks Research downgraded BioLife Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, Wall Street Zen upgraded BioLife Solutions from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $32.00.

BioLife Solutions Company 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.