Royce & Associates LP Trims Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

Royce & Associates LP lessened its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 9.6% during the 3rd quarter, Holdings Channel reports. The fund owned 825,133 shares of the medical equipment provider’s stock after selling 87,519 shares during the quarter. Royce & Associates LP’s holdings in BioLife Solutions were worth $20,661,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in shares of BioLife Solutions during the 2nd quarter worth about $35,000. Isthmus Partners LLC increased its position in shares of BioLife Solutions by 34.4% during the 2nd quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 42,265 shares during the last quarter. GAMMA Investing LLC increased its position in shares of BioLife Solutions by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after purchasing an additional 748 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of BioLife Solutions during the 2nd quarter worth about $122,000. Finally, Arizona State Retirement System acquired a new stake in shares of BioLife Solutions during the 2nd quarter worth about $217,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

BioLife Solutions Trading Down 2.9 %

NASDAQ:BLFS opened at $21.02 on Friday. The firm has a market cap of $975.12 million, a P/E ratio of -19.83 and a beta of 1.88. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.03. The stock’s 50 day simple moving average is $24.00 and its 200-day simple moving average is $22.75. BioLife Solutions, Inc. has a 12-month low of $11.40 and a 12-month high of $28.88.

Wall Street Analysts Forecast Growth

BLFS has been the subject of several research reports. HC Wainwright initiated coverage on BioLife Solutions in a research report on Monday, September 30th. They issued a “buy” rating and a $29.00 target price for the company. Northland Securities lifted their target price on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. TD Cowen lifted their target price on BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Craig Hallum lifted their target price on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.83.

Insider Buying and Selling

In related news, EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $23.28, for a total transaction of $232,800.00. Following the transaction, the executive vice president now owns 317,716 shares of the company’s stock, valued at $7,396,428.48. This represents a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction 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 sale, the executive now directly owns 114,773 shares in the company, valued at $2,883,097.76. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,471 shares of company stock valued at $656,330 over the last quarter. Company insiders own 2.20% of the company’s stock.

BioLife Solutions 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.