BioLife Solutions (NASDAQ:BLFS) Shares Down 2%

BioLife Solutions, Inc. (NASDAQ:BLFS) dropped 2% 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.

Wall Street Analysts Forecast Growth

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

BioLife Solutions Trading Up 1.2 %

The company has a market cap of $1.09 billion, a price-to-earnings ratio of -16.70 and a beta of 1.87. The business has a fifty day simple moving average of $23.98 and a 200 day simple moving average of $20.83. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.08. The firm had revenue of $28.33 million during the quarter, compared to analysts’ expectations of $23.80 million. BioLife Solutions had a negative net margin of 59.88% and a negative return on equity of 10.75%. On average, equities analysts anticipate that BioLife Solutions, Inc. will post -0.36 EPS for the current fiscal year.

Insider Transactions at BioLife Solutions

In related news, 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 value of $77,118.40. Following the completion of the transaction, the executive now directly owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CRO Garrie Richardson sold 3,070 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the sale, the executive now directly owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Sarah Aebersold sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $21.03, for a total transaction of $63,090.00. Following the transaction, the insider now owns 61,683 shares of the company’s stock, valued at $1,297,193.49. The disclosure for this sale can be found here. Insiders have sold 9,944 shares of company stock valued at $229,709 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. 1620 Investment Advisors Inc. acquired a new stake in BioLife Solutions during the 2nd quarter valued at $35,000. Isthmus Partners LLC lifted its position in shares of BioLife Solutions by 34.4% in the second quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 42,265 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in shares of BioLife Solutions during the first quarter valued at $96,000. Canada Pension Plan Investment Board purchased a new stake in BioLife Solutions during the 2nd quarter worth about $122,000. Finally, Arizona State Retirement System purchased a new position in BioLife Solutions in the 2nd quarter valued at about $217,000. 93.24% of the stock is currently 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.