Oppenheimer Asset Management Inc. Reduces Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

Oppenheimer Asset Management Inc. reduced its position in BioLife Solutions, Inc. (NASDAQ:BLFS) by 22.2% during the third quarter, HoldingsChannel.com reports. The firm owned 25,909 shares of the medical equipment provider’s stock after selling 7,387 shares during the period. Oppenheimer Asset Management Inc.’s holdings in BioLife Solutions were worth $649,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank raised its holdings in shares of BioLife Solutions by 3.6% in the first quarter. Swiss National Bank now owns 71,100 shares of the medical equipment provider’s stock worth $1,319,000 after buying an additional 2,500 shares during the period. Sei Investments Co. grew its position in BioLife Solutions by 1.4% in the 1st quarter. Sei Investments Co. now owns 60,191 shares of the medical equipment provider’s stock valued at $1,117,000 after acquiring an additional 839 shares during the last quarter. Russell Investments Group Ltd. increased its stake in BioLife Solutions by 6.1% in the first quarter. Russell Investments Group Ltd. now owns 194,126 shares of the medical equipment provider’s stock worth $3,601,000 after purchasing an additional 11,076 shares during the period. State Board of Administration of Florida Retirement System bought a new stake in shares of BioLife Solutions during the first quarter worth $229,000. Finally, Vanguard Group Inc. boosted 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 valued at $53,208,000 after purchasing an additional 296,727 shares during the period. Institutional investors own 93.24% of the company’s stock.

BioLife Solutions Price Performance

NASDAQ BLFS opened at $22.44 on Wednesday. The company has a market cap of $1.04 billion, a PE ratio of -21.17 and a beta of 1.88. The firm’s 50 day moving average price is $23.92 and its 200-day moving average price is $22.87. 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 52-week low of $11.91 and a 52-week high of $28.88.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Craig Hallum raised their price target on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Northland Securities raised their target price on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. HC Wainwright lowered their price target on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a report on Monday. Finally, TD Cowen raised their price objective on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $27.50.

Insiders Place Their Bets

In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the transaction, the executive now owns 114,773 shares in the company, valued at $2,883,097.76. The trade was a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Aby J. Mathew sold 17,604 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $20.05, for a total transaction of $352,960.20. Following the sale, the executive vice president now directly owns 284,442 shares of the company’s stock, valued at approximately $5,703,062.10. The trade was a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,644 shares of company stock worth $1,527,503 over the last 90 days. Company insiders own 2.20% of the company’s stock.

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.