BioLife Solutions (NASDAQ:BLFS) Shares Down 4.2%

BioLife Solutions, Inc. (NASDAQ:BLFS)’s stock price dropped 4.2% during trading on Thursday . The company traded as low as $20.40 and last traded at $20.58. Approximately 124,161 shares traded hands during trading, a decline of 69% from the average daily volume of 402,170 shares. The stock had previously closed at $21.49.

Analyst Upgrades and Downgrades

BLFS has been the topic of a number of recent analyst reports. StockNews.com raised BioLife Solutions to a “sell” rating in a report on Friday, May 10th. Benchmark raised BioLife Solutions from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Monday, May 13th. Finally, Jefferies Financial Group started coverage on BioLife Solutions in a report on Thursday, April 4th. They set a “buy” rating and a $22.00 price target on the stock. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, BioLife Solutions has an average rating of “Moderate Buy” and a consensus target price of $23.67.

BioLife Solutions Trading Up 4.5 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 1.77. The company has a fifty day moving average price of $20.24 and a 200-day moving average price of $18.18.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings results on Thursday, May 9th. The medical equipment provider reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.06. The company had revenue of $31.73 million during the quarter, compared to analyst estimates of $29.30 million. BioLife Solutions had a negative return on equity of 12.89% and a negative net margin of 45.84%. During the same quarter last year, the business posted ($0.27) earnings per share. As a group, analysts predict that BioLife Solutions, Inc. will post -0.44 EPS for the current year.

Insider Buying and Selling

In related news, CMO Todd Berard sold 10,000 shares of BioLife Solutions stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $20.18, for a total value of $201,800.00. Following the completion of the transaction, the chief marketing officer now owns 108,894 shares in the company, valued at $2,197,480.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other BioLife Solutions news, insider Sarah Aebersold sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $17.65, for a total transaction of $70,600.00. Following the completion of the transaction, the insider now owns 65,843 shares in the company, valued at $1,162,128.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Todd Berard sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $20.18, for a total value of $201,800.00. Following the transaction, the chief marketing officer now owns 108,894 shares of the company’s stock, valued at approximately $2,197,480.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,845 shares of company stock worth $518,244. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BLFS. Charles Schwab Investment Management Inc. boosted its position in shares of BioLife Solutions by 6.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 281,998 shares of the medical equipment provider’s stock valued at $3,894,000 after buying an additional 16,754 shares during the period. Invesco Ltd. boosted its holdings in shares of BioLife Solutions by 6.5% in the third quarter. Invesco Ltd. now owns 1,052,065 shares of the medical equipment provider’s stock valued at $14,529,000 after purchasing an additional 64,475 shares during the period. Dark Forest Capital Management LP purchased a new stake in shares of BioLife Solutions in the third quarter valued at approximately $223,000. Meros Investment Management LP boosted its holdings in shares of BioLife Solutions by 14.7% in the third quarter. Meros Investment Management LP now owns 372,203 shares of the medical equipment provider’s stock valued at $5,140,000 after purchasing an additional 47,724 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of BioLife Solutions by 167.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 1,020 shares during the period. Hedge funds and other 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.