Granahan Investment Management LLC Buys 239,701 Shares of BioLife Solutions, Inc. $BLFS

Granahan Investment Management LLC raised its stake in BioLife Solutions, Inc. (NASDAQ:BLFS) by 49.7% during the first quarter, HoldingsChannel reports. The fund owned 722,057 shares of the medical equipment provider’s stock after buying an additional 239,701 shares during the period. Granahan Investment Management LLC’s holdings in BioLife Solutions were worth $13,777,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BLFS. Jacobs Levy Equity Management Inc. bought a new position in shares of BioLife Solutions during the first quarter valued at $283,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in BioLife Solutions by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,422 shares of the medical equipment provider’s stock worth $489,000 after purchasing an additional 914 shares in the last quarter. Jane Street Group LLC purchased a new stake in BioLife Solutions during the 1st quarter valued at about $1,091,000. Strs Ohio purchased a new stake in BioLife Solutions during the 1st quarter valued at about $153,000. Finally, Qube Research & Technologies Ltd increased its stake in BioLife Solutions by 2,399.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 248,474 shares of the medical equipment provider’s stock valued at $5,352,000 after purchasing an additional 238,533 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on BLFS. Zacks Research cut shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Lake Street Capital cut shares of BioLife Solutions from a “buy” rating to a “hold” rating and cut their price target for the company from $33.00 to $31.00 in a report on Wednesday. Jefferies Financial Group downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating and raised their price target for the company from $30.00 to $31.00 in a research report on Thursday. TD Cowen lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $33.00 to $31.00 in a report on Wednesday. Finally, Maxim Group cut BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, BioLife Solutions currently has an average rating of “Hold” and an average price target of $31.43.

BioLife Solutions Stock Performance

NASDAQ BLFS opened at $29.98 on Friday. BioLife Solutions, Inc. has a one year low of $17.86 and a one year high of $32.23. The stock has a 50-day moving average of $26.94 and a 200 day moving average of $23.55. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -374.70 and a beta of 1.94.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $27.50 million during the quarter, compared to analyst estimates of $25.66 million. BioLife Solutions had a positive return on equity of 1.81% and a negative net margin of 2.80%. On average, equities analysts predict that BioLife Solutions, Inc. will post 0.02 earnings per share for the current fiscal year.

BioLife Solutions News Roundup

Here are the key news stories impacting BioLife Solutions this week:

• Positive Sentiment: HC Wainwright reiterated a Neutral rating and a $31 price target while forecasting modest earnings growth for BioLife Solutions through 2027, which suggests analysts still see some upside from current levels. HC Wainwright earnings estimates and rating for BioLife Solutions
• Neutral Sentiment: Repligen’s planned acquisition of BioLife Solutions is being framed as strategically positive for Repligen’s cell therapy business, and the deal could provide a clear exit value for BLFS shareholders if completed. Zacks article on Repligen buying BioLife Solutions
• Negative Sentiment: Maxim Group downgraded BioLife Solutions (BLFS) from strong-buy to hold, adding pressure on the stock and signaling less enthusiasm from analysts. Maxim Group downgrade coverage via Zacks
• Negative Sentiment: Kahn Swick & Foti said it is investigating the adequacy of the price and process in BioLife’s proposed sale to Repligen, raising the risk of shareholder litigation or a challenged deal process. BusinessWire investor alert on BioLife Solutions sale investigation
• Negative Sentiment: TD Cowen also downgraded BioLife Solutions (BLFS) to hold, reinforcing the cautious tone around the stock after the acquisition announcement. TD Cowen downgrade on BioLife Solutions

Insider Buying and Selling at BioLife Solutions

In other news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $23.70, for a total transaction of $15,405,000.00. Following the completion of the transaction, the insider directly owned 4,757,165 shares of the company’s stock, valued at $112,744,810.50. The trade was a 12.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 1,200,000 shares of company stock worth $28,125,000 over the last three months. 2.20% of the stock is owned by insiders.

About BioLife Solutions

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.