BioLife Solutions, Inc. (NASDAQ:BLFS) Sees Significant Increase in Short Interest

BioLife Solutions, Inc. (NASDAQ:BLFS) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 3,310,000 shares, a growth of 5.8% from the December 31st total of 3,130,000 shares. Based on an average trading volume of 379,000 shares, the short-interest ratio is currently 8.7 days.

BioLife Solutions Price Performance

BLFS opened at $27.31 on Monday. The stock’s 50-day moving average price is $26.84 and its 200 day moving average price is $25.07. BioLife Solutions has a 12-month low of $14.50 and a 12-month high of $29.55. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -25.76 and a beta of 1.92. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Insider Transactions at BioLife Solutions

In other news, EVP Aby J. Mathew sold 17,604 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $20.05, for a total transaction of $352,960.20. Following the transaction, the executive vice president now directly owns 284,442 shares in the company, valued at $5,703,062.10. The trade was a 5.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Troy Wichterman sold 987 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $27.02, for a total value of $26,668.74. Following the completion of the sale, the chief financial officer now directly owns 121,779 shares of the company’s stock, valued at approximately $3,290,468.58. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,278 shares of company stock valued at $1,199,987 over the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

Hedge funds have recently added to or reduced their stakes in the business. D.A. Davidson & CO. grew its stake in shares of BioLife Solutions by 1.3% in the fourth quarter. D.A. Davidson & CO. now owns 41,179 shares of the medical equipment provider’s stock worth $1,069,000 after acquiring an additional 519 shares in the last quarter. Stifel Financial Corp grew its stake in BioLife Solutions by 5.4% during the 3rd quarter. Stifel Financial Corp now owns 12,988 shares of the medical equipment provider’s stock worth $325,000 after purchasing an additional 670 shares in the last quarter. GAMMA Investing LLC grew its stake 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 purchasing an additional 748 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in BioLife Solutions by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock worth $296,000 after purchasing an additional 753 shares during the period. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in BioLife Solutions in the 3rd quarter valued at about $28,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on BLFS. Northland Securities lifted their target price on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. HC Wainwright reduced their price target on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. KeyCorp increased their price objective on BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. TD Cowen lifted their target price on BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Craig Hallum upped their price target on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.43.

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.