BioLife Solutions (NASDAQ:BLFS) Trading Down 2.6% on Insider Selling

BioLife Solutions, Inc. (NASDAQ:BLFS)’s share price dropped 2.6% during mid-day trading on Friday following insider selling activity. The company traded as low as $24.42 and last traded at $24.42. Approximately 142,491 shares were traded during trading, a decline of 59% from the average daily volume of 349,003 shares. The stock had previously closed at $25.06.

Specifically, CFO Troy Wichterman sold 4,151 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total value of $103,775.00. Following the transaction, the chief financial officer now directly owns 116,809 shares in the company, valued at $2,920,225. This represents a 3.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Aby J. Mathew sold 1,597 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total value of $39,925.00. Following the transaction, the executive vice president now owns 260,601 shares in the company, valued at $6,515,025. This trade represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, insider Sarah Aebersold sold 1,091 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total transaction of $27,275.00. Following the transaction, the insider now directly owns 58,816 shares in the company, valued at approximately $1,470,400. This represents a 1.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

BLFS has been the topic of several recent research reports. Northland Securities increased their price objective on BioLife Solutions from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Benchmark reiterated a “buy” rating and set a $30.00 price objective on shares of BioLife Solutions in a research report on Thursday, December 19th. HC Wainwright raised their price target on BioLife Solutions from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, KeyCorp raised their price target on BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.86.

BioLife Solutions Trading Down 0.2 %

The firm has a fifty day simple moving average of $26.59 and a two-hundred day simple moving average of $25.49. The firm has a market cap of $1.18 billion, a PE ratio of -23.58 and a beta of 2.04. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings data on Monday, March 3rd. The medical equipment provider reported $0.26 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.32. The business had revenue of $22.71 million for the quarter, compared to the consensus estimate of $21.73 million. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. During the same period in the previous year, the business earned ($0.21) earnings per share. Equities analysts forecast that BioLife Solutions, Inc. will post -0.3 EPS for the current year.

Institutional Investors Weigh In On BioLife Solutions

Hedge funds have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of BioLife Solutions in the fourth quarter worth about $26,000. Mark Sheptoff Financial Planning LLC bought a new stake in BioLife Solutions during the third quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in BioLife Solutions during the fourth quarter worth approximately $31,000. Quest Partners LLC bought a new stake in BioLife Solutions during the third quarter worth approximately $57,000. Finally, 1620 Investment Advisors Inc. increased its stake in BioLife Solutions by 41.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider’s stock worth $60,000 after acquiring an additional 675 shares during the last quarter. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

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.