BioLife Solutions (NASDAQ:BLFS) Shares Down 2%

BioLife Solutions, Inc. (NASDAQ:BLFS) shares were down 2% during mid-day trading on Tuesday . The stock traded as low as $24.90 and last traded at $24.95. Approximately 66,256 shares traded hands during trading, a decline of 83% from the average daily volume of 380,431 shares. The stock had previously closed at $25.46.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BLFS shares. TD Cowen increased their target price on BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Northland Securities increased their target price on BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, Craig Hallum increased their price target on BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.20.

BioLife Solutions Price Performance

The company has a current ratio of 2.86, a quick ratio of 1.81 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average price is $23.98 and its two-hundred day moving average price is $20.83. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -16.70 and a beta of 1.87.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The company had revenue of $28.33 million for 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 research analysts expect that BioLife Solutions, Inc. will post -0.36 EPS for the current year.

Insiders Place Their Bets

In other news, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction on 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 transaction, the executive now owns 114,773 shares in the company, valued at approximately $2,883,097.76. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Sarah Aebersold sold 3,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $21.03, for a total value of $63,090.00. Following the completion of the sale, the insider now directly owns 61,683 shares of the company’s stock, valued at $1,297,193.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Garrie Richardson sold 3,070 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive now owns 114,773 shares in the company, valued at $2,883,097.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,944 shares of company stock valued at $229,709. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of BioLife Solutions

A number of large investors have recently bought and sold shares of BLFS. Conestoga Capital Advisors LLC increased its stake in BioLife Solutions by 1.0% in the first quarter. Conestoga Capital Advisors LLC now owns 65,477 shares of the medical equipment provider’s stock valued at $1,215,000 after purchasing an additional 630 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of BioLife Solutions by 4.0% during the second quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the medical equipment provider’s stock worth $392,000 after buying an additional 700 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of BioLife Solutions by 5.8% during the second quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock worth $296,000 after buying an additional 753 shares during the last quarter. Sei Investments Co. increased 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 period. Finally, Price T Rowe Associates Inc. MD raised its stake in BioLife Solutions by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,129 shares of the medical equipment provider’s stock valued at $281,000 after acquiring an additional 1,374 shares during the last quarter. Institutional investors and hedge funds own 93.24% 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.