Short Interest in BioLife Solutions, Inc. (NASDAQ:BLFS) Grows By 20.9%

BioLife Solutions, Inc. (NASDAQ:BLFS) was the recipient of a large increase in short interest in November. As of November 30th, there was short interest totalling 3,240,000 shares, an increase of 20.9% from the November 15th total of 2,680,000 shares. Based on an average daily volume of 384,100 shares, the short-interest ratio is presently 8.4 days.

BioLife Solutions Stock Down 0.1 %

Shares of NASDAQ:BLFS opened at $26.70 on Monday. BioLife Solutions has a 52-week low of $13.99 and a 52-week high of $28.88. The company has a market capitalization of $1.24 billion, a PE ratio of -25.19 and a beta of 1.91. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78. The company has a fifty day moving average of $24.62 and a 200-day moving average of $23.57.

Insiders Place Their Bets

In related news, EVP Aby J. Mathew sold 17,604 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $20.05, for a total value of $352,960.20. Following the completion of the transaction, the executive vice president now owns 284,442 shares of the company’s stock, valued at $5,703,062.10. The trade was a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 66,655 shares of company stock worth $1,455,890 in the last quarter. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BLFS. Barclays PLC raised its holdings in BioLife Solutions by 20.1% during the 3rd quarter. Barclays PLC now owns 64,423 shares of the medical equipment provider’s stock worth $1,613,000 after purchasing an additional 10,803 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of BioLife Solutions by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider’s stock valued at $21,107,000 after purchasing an additional 18,473 shares during the period. State Street Corp boosted its position in shares of BioLife Solutions by 7.3% during the 3rd quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock valued at $35,364,000 after purchasing an additional 95,788 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of BioLife Solutions by 5.4% during the third quarter. Stifel Financial Corp now owns 12,988 shares of the medical equipment provider’s stock valued at $325,000 after purchasing an additional 670 shares during the period. Finally, Mark Sheptoff Financial Planning LLC bought a new position in shares of BioLife Solutions during the 3rd quarter worth about $28,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BLFS. TD Cowen boosted their target price on shares of BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. KeyCorp boosted their price objective on shares of BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday. Craig Hallum raised their target price on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, 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, November 18th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.29.

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.