BioLife Solutions (NASDAQ:BLFS) Trading Up 5.8%

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) shot up 5.8% during mid-day trading on Thursday . The stock traded as high as $25.33 and last traded at $25.10. 56,392 shares traded hands during trading, a decline of 85% from the average session volume of 381,103 shares. The stock had previously closed at $23.72.

Wall Street Analyst Weigh In

BLFS has been the subject of several research reports. Northland Securities boosted their target price on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, August 9th. TD Cowen boosted their price objective on BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Craig Hallum raised their target price on shares of BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.20.

BioLife Solutions Stock Up 0.2 %

The business has a 50-day simple moving average of $24.17 and a two-hundred day simple moving average of $20.91. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -18.15 and a beta of 1.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.81 and a current ratio of 2.86.

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

Insider Buying and Selling

In other BioLife Solutions news, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total value of $239,000.00. Following the sale, the executive vice president now owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total transaction of $239,000.00. Following the completion of the transaction, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sarah Aebersold sold 3,000 shares of BioLife Solutions stock in a transaction that occurred on Monday, July 1st. The shares were 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 owns 61,683 shares in the company, valued at $1,297,193.49. The disclosure for this sale can be found here. Insiders sold 19,944 shares of company stock valued at $468,709 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millrace Asset Group Inc. boosted its holdings in BioLife Solutions by 116.0% during the fourth quarter. Millrace Asset Group Inc. now owns 105,643 shares of the medical equipment provider’s stock worth $1,717,000 after buying an additional 56,726 shares in the last quarter. Isthmus Partners LLC boosted its stake in shares of BioLife Solutions by 13.3% during the 4th quarter. Isthmus Partners LLC now owns 77,082 shares of the medical equipment provider’s stock worth $1,253,000 after acquiring an additional 9,025 shares in the last quarter. Ranger Investment Management L.P. grew its holdings in shares of BioLife Solutions by 6.7% in the 4th quarter. Ranger Investment Management L.P. now owns 363,574 shares of the medical equipment provider’s stock worth $5,908,000 after acquiring an additional 22,906 shares during the period. Granahan Investment Management LLC increased its stake in BioLife Solutions by 22.8% in the 4th quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock valued at $21,006,000 after purchasing an additional 240,001 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in BioLife Solutions by 1,038.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock worth $39,031,000 after purchasing an additional 2,191,002 shares in the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

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.