Quest Partners LLC Makes New $57,000 Investment in BioLife Solutions, Inc. (NASDAQ:BLFS)

Quest Partners LLC purchased a new stake in BioLife Solutions, Inc. (NASDAQ:BLFS) during the third quarter, Holdings Channel reports. The institutional investor purchased 2,295 shares of the medical equipment provider’s stock, valued at approximately $57,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BLFS. Vanguard Group Inc. increased its stake in shares of BioLife Solutions by 11.5% during the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock worth $53,208,000 after buying an additional 296,727 shares during the period. Fred Alger Management LLC increased its position in shares of BioLife Solutions by 6.0% in the 2nd quarter. Fred Alger Management LLC now owns 1,579,138 shares of the medical equipment provider’s stock valued at $33,841,000 after purchasing an additional 88,840 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of BioLife Solutions by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 794,971 shares of the medical equipment provider’s stock valued at $17,034,000 after purchasing an additional 66,422 shares in the last quarter. Curi RMB Capital LLC raised its holdings in shares of BioLife Solutions by 0.5% in the 3rd quarter. Curi RMB Capital LLC now owns 421,933 shares of the medical equipment provider’s stock valued at $10,565,000 after purchasing an additional 2,283 shares in the last quarter. Finally, Mutual of America Capital Management LLC acquired a new position in shares of BioLife Solutions during the second quarter worth $8,592,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Insiders Place Their Bets

In other news, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,883,097.76. This represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Aby J. Mathew sold 17,604 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $20.05, for a total value of $352,960.20. Following the transaction, the executive vice president now directly owns 284,442 shares in the company, valued at approximately $5,703,062.10. This represents a 5.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,313 shares of company stock valued at $1,572,899 over the last quarter. Company insiders own 2.20% of the company’s stock.

BioLife Solutions Stock Up 1.1 %

BioLife Solutions stock opened at $27.47 on Friday. The company has a market capitalization of $1.27 billion, a P/E ratio of -25.92 and a beta of 1.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78. BioLife Solutions, Inc. has a fifty-two week low of $11.91 and a fifty-two week high of $28.88. The stock has a 50-day simple moving average of $24.23 and a 200-day simple moving average of $23.24.

Analyst Ratings Changes

BLFS has been the topic of a number of analyst reports. HC Wainwright cut their price target on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. TD Cowen raised their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Northland Securities upped their price target on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, Craig Hallum increased their price target on shares of BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat, BioLife Solutions currently has an average rating of “Moderate Buy” and an average price target of $27.50.

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.