Jennison Associates LLC Sells 364,461 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

Jennison Associates LLC trimmed its holdings in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 90.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 39,978 shares of the medical equipment provider’s stock after selling 364,461 shares during the period. Jennison Associates LLC’s holdings in BioLife Solutions were worth $650,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of BioLife Solutions by 6.5% during the 3rd quarter. Invesco Ltd. now owns 1,052,065 shares of the medical equipment provider’s stock worth $14,529,000 after acquiring an additional 64,475 shares during the period. William Blair Investment Management LLC bought a new position in shares of BioLife Solutions during the 3rd quarter worth about $9,335,000. New York State Common Retirement Fund increased its position in shares of BioLife Solutions by 11.9% during the 3rd quarter. New York State Common Retirement Fund now owns 419,618 shares of the medical equipment provider’s stock worth $5,795,000 after purchasing an additional 44,714 shares in the last quarter. Meros Investment Management LP increased its position in shares of BioLife Solutions by 14.7% during the 3rd quarter. Meros Investment Management LP now owns 372,203 shares of the medical equipment provider’s stock worth $5,140,000 after purchasing an additional 47,724 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of BioLife Solutions by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 281,998 shares of the medical equipment provider’s stock worth $3,894,000 after purchasing an additional 16,754 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

Insider Buying and Selling at BioLife Solutions

In other BioLife Solutions news, CMO Todd Berard sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $15.67, for a total value of $156,700.00. Following the completion of the sale, the chief marketing officer now owns 129,644 shares in the company, valued at approximately $2,031,521.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Greef Roderick De sold 7,249 shares of BioLife Solutions stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $16.60, for a total transaction of $120,333.40. Following the completion of the sale, the chief executive officer now owns 461,854 shares in the company, valued at approximately $7,666,776.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Todd Berard sold 10,000 shares of BioLife Solutions stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $15.67, for a total transaction of $156,700.00. Following the sale, the chief marketing officer now owns 129,644 shares of the company’s stock, valued at approximately $2,031,521.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,996 shares of company stock worth $562,145. 2.70% of the stock is currently owned by corporate insiders.

BioLife Solutions Trading Up 4.0 %

Shares of BioLife Solutions stock opened at $17.53 on Friday. The stock has a market capitalization of $794.11 million, a P/E ratio of -11.53 and a beta of 1.67. The company has a quick ratio of 1.83, a current ratio of 2.86 and a debt-to-equity ratio of 0.06. The company has a 50-day simple moving average of $17.35 and a 200 day simple moving average of $15.46. BioLife Solutions, Inc. has a 12-month low of $8.92 and a 12-month high of $24.50.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings data on Thursday, February 29th. The medical equipment provider reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.02. The firm had revenue of $32.73 million during the quarter, compared to analysts’ expectations of $32.70 million. BioLife Solutions had a negative net margin of 46.37% and a negative return on equity of 13.36%. Research analysts expect that BioLife Solutions, Inc. will post -0.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group started coverage on shares of BioLife Solutions in a research report on Thursday, April 4th. They set a “buy” rating and a $22.00 target price for the company. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

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.