BioLife Solutions (NASDAQ:BLFS) Trading Down 4.8% – Here’s Why

BioLife Solutions, Inc. (NASDAQ:BLFS)’s stock price dropped 4.8% during trading on Thursday . The stock traded as low as $22.00 and last traded at $22.28. Approximately 29,358 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 374,176 shares. The stock had previously closed at $23.40.

Analyst Upgrades and Downgrades

BLFS has been the topic of a number of research analyst reports. TD Cowen boosted 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. Craig Hallum raised their target price on BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Northland Securities boosted their price target on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, HC Wainwright assumed coverage on shares of BioLife Solutions in a research report on Monday, September 30th. They set a “buy” rating and a $29.00 price target for the company. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat.com, BioLife Solutions currently has an average rating of “Moderate Buy” and an average target price of $26.67.

BioLife Solutions Price Performance

The firm’s 50 day moving average price is $24.60 and its two-hundred day moving average price is $21.56. The stock has a market cap of $1.03 billion, a PE ratio of -15.54 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.

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

Insiders Place Their Bets

In other news, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the sale, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction dated 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 sale, the executive vice president now owns 317,716 shares in the company, valued at approximately $7,593,412.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Garrie Richardson sold 3,070 shares of the company’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 completion of the transaction, the executive now owns 114,773 shares in the company, valued at approximately $2,883,097.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,329 shares of company stock worth $372,447 in the last quarter. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioLife Solutions

Hedge funds have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new stake in BioLife Solutions in the 2nd quarter worth approximately $35,000. Isthmus Partners LLC raised its position in BioLife Solutions by 34.4% in the 2nd quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 42,265 shares during the period. GAMMA Investing LLC lifted its stake in BioLife Solutions by 29.4% in the third 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 during the last quarter. Register Financial Advisors LLC purchased a new stake in BioLife Solutions during the first quarter valued at about $96,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of BioLife Solutions in the second quarter worth about $122,000. Institutional investors 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.