Intech Investment Management LLC Decreases Holdings in BioLife Solutions, Inc. $BLFS

Intech Investment Management LLC lowered its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 7.0% in the second quarter, Holdings Channel reports. The firm owned 38,100 shares of the medical equipment provider’s stock after selling 2,860 shares during the period. Intech Investment Management LLC’s holdings in BioLife Solutions were worth $821,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BLFS. T. Rowe Price Investment Management Inc. purchased a new stake in BioLife Solutions during the 1st quarter worth approximately $30,789,000. Royal Bank of Canada boosted its stake in shares of BioLife Solutions by 762.8% in the first quarter. Royal Bank of Canada now owns 698,251 shares of the medical equipment provider’s stock worth $15,948,000 after acquiring an additional 617,320 shares during the last quarter. Invesco Ltd. increased its position in shares of BioLife Solutions by 9.6% during the first quarter. Invesco Ltd. now owns 3,551,054 shares of the medical equipment provider’s stock worth $81,106,000 after purchasing an additional 311,585 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of BioLife Solutions by 22.2% during the second quarter. Mutual of America Capital Management LLC now owns 638,373 shares of the medical equipment provider’s stock worth $13,751,000 after purchasing an additional 115,963 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in BioLife Solutions by 271.7% in the 2nd quarter. TD Asset Management Inc now owns 144,290 shares of the medical equipment provider’s stock valued at $3,108,000 after purchasing an additional 105,470 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BLFS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioLife Solutions in a report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of BioLife Solutions in a research report on Monday. Zacks Research upgraded shares of BioLife Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Finally, Wall Street Zen raised shares of BioLife Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.20.

Insider Buying and Selling

In other news, CEO Greef Roderick De sold 37,795 shares of the stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $27.30, for a total transaction of $1,031,803.50. Following the completion of the transaction, the chief executive officer directly owned 489,998 shares in the company, valued at approximately $13,376,945.40. This represents a 7.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Casdin Partners Master Fund, L sold 750,000 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $28.55, for a total transaction of $21,412,500.00. Following the completion of the sale, the insider owned 5,957,165 shares in the company, valued at approximately $170,077,060.75. This trade represents a 11.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 901,524 shares of company stock valued at $25,384,826 in the last ninety days. Company insiders own 2.20% of the company’s stock.

BioLife Solutions Price Performance

BioLife Solutions stock opened at $26.68 on Thursday. The firm has a 50 day simple moving average of $26.44 and a 200-day simple moving average of $24.22. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -222.31 and a beta of 1.97. BioLife Solutions, Inc. has a 1-year low of $19.10 and a 1-year high of $29.62.

About BioLife Solutions

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.