Harbor Capital Advisors Inc. Acquires 12,421 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

Harbor Capital Advisors Inc. grew its stake in BioLife Solutions, Inc. (NASDAQ:BLFS) by 31.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 52,449 shares of the medical equipment provider’s stock after buying an additional 12,421 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in BioLife Solutions were worth $1,313,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. acquired a new position in BioLife Solutions during the 2nd quarter worth approximately $35,000. GAMMA Investing LLC lifted its position in BioLife Solutions by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after buying an additional 748 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of BioLife Solutions during the 2nd quarter worth about $122,000. Arizona State Retirement System bought a new position in shares of BioLife Solutions in the 2nd quarter valued at about $217,000. Finally, Marshall Wace LLP acquired a new stake in shares of BioLife Solutions in the second quarter valued at about $229,000. 93.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Craig Hallum boosted their price target on BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. TD Cowen upped their price target on shares of BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. HC Wainwright began coverage on shares of BioLife Solutions in a research report on Monday, September 30th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, Northland Securities upped their target price on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, BioLife Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $26.67.

Insider Buying and Selling at BioLife Solutions

In other news, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction on Monday, September 16th. The stock was sold at an average price of $25.12, for a total transaction of $77,118.40. Following the completion of the sale, the executive now owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CRO Garrie Richardson sold 3,070 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.12, for a total transaction of $77,118.40. Following the transaction, the executive now directly owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Aby J. Mathew sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the completion of the sale, the executive vice president now owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,044 shares of company stock valued at $645,105 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

BioLife Solutions Price Performance

Shares of BLFS opened at $25.92 on Wednesday. The firm has a market capitalization of $1.20 billion, a PE ratio of -15.34 and a beta of 1.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.86 and a quick ratio of 1.81. The company’s 50-day moving average is $24.04 and its 200-day moving average is $22.39. BioLife Solutions, Inc. has a fifty-two week low of $9.92 and a fifty-two week high of $26.73.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. The company had revenue of $28.33 million during the quarter, compared to analysts’ expectations of $23.80 million. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. Equities analysts forecast that BioLife Solutions, Inc. will post -0.36 EPS for the current year.

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.