Franklin Resources Inc. Reduces Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

Franklin Resources Inc. reduced its stake in BioLife Solutions, Inc. (NASDAQ:BLFS) by 11.2% during the 3rd quarter, Holdings Channel reports. The fund owned 24,618 shares of the medical equipment provider’s stock after selling 3,093 shares during the period. Franklin Resources Inc.’s holdings in BioLife Solutions were worth $577,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fred Alger Management LLC lifted its holdings in 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 in the last quarter. State Street Corp lifted its stake in shares of BioLife Solutions by 7.3% during the third quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock valued at $35,364,000 after buying an additional 95,788 shares during the period. Geode Capital Management LLC boosted its position in BioLife Solutions by 2.2% during the third quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider’s stock worth $21,107,000 after acquiring an additional 18,473 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in 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 worth $17,034,000 after acquiring an additional 66,422 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in BioLife Solutions by 81.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 585,497 shares of the medical equipment provider’s stock valued at $14,661,000 after acquiring an additional 262,504 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Insider Activity at BioLife Solutions

In related news, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $23.28, for a total transaction of $232,800.00. Following the sale, the executive vice president now owns 317,716 shares of the company’s stock, valued at $7,396,428.48. The trade was a 3.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 64,259 shares of company stock worth $1,424,708. 2.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Benchmark reaffirmed a “buy” rating and issued a $30.00 price objective on shares of BioLife Solutions in a research report on Thursday, December 19th. KeyCorp upped their price objective on shares of BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. TD Cowen raised their target price on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. HC Wainwright dropped their price target on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Finally, Craig Hallum lifted their price target on shares of BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $29.00.

BioLife Solutions Trading Down 1.2 %

NASDAQ:BLFS opened at $26.27 on Tuesday. The business’s 50-day moving average is $25.28 and its two-hundred day moving average is $23.95. The firm has a market capitalization of $1.22 billion, a PE ratio of -24.78 and a beta of 1.91. BioLife Solutions, Inc. has a 12 month low of $14.50 and a 12 month high of $28.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78.

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.