HC Wainwright Issues Pessimistic Forecast for BioLife Solutions (NASDAQ:BLFS) Stock Price

BioLife Solutions (NASDAQ:BLFS) had its price objective lowered by HC Wainwright from $29.00 to $27.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.

Several other analysts have also issued reports on the stock. Craig Hallum upped their price target on shares of BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Northland Securities upped their price target 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. Finally, TD Cowen increased their price target on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

BioLife Solutions Stock Down 2.6 %

BLFS opened at $20.47 on Monday. The business’s fifty day simple moving average is $23.94 and its 200 day simple moving average is $22.84. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.03. BioLife Solutions has a 52 week low of $11.91 and a 52 week high of $28.88. The stock has a market cap of $949.60 million, a PE ratio of -19.31 and a beta of 1.88.

Insiders Place Their Bets

In other news, EVP Aby J. Mathew sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $23.28, for a total value of $232,800.00. Following the sale, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at approximately $7,396,428.48. The trade was a 3.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction that occurred on Monday, September 16th. The shares were 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 of the company’s stock, valued at $2,883,097.76. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,471 shares of company stock valued at $656,330 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLFS. Sequoia Financial Advisors LLC purchased a new position in BioLife Solutions during the 2nd quarter worth $466,000. Vanguard Group Inc. lifted its holdings in shares of BioLife Solutions by 11.5% during the 1st quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock worth $53,208,000 after acquiring an additional 296,727 shares during the period. Isthmus Partners LLC raised its holdings in 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 buying an additional 42,265 shares during the period. Mutual of America Capital Management LLC purchased a new stake in shares of BioLife Solutions during the second quarter valued at approximately $8,592,000. Finally, Envestnet Asset Management Inc. grew its position in shares of BioLife Solutions by 261.5% during the second quarter. Envestnet Asset Management Inc. now owns 127,215 shares of the medical equipment provider’s stock worth $2,726,000 after buying an additional 92,021 shares in the last quarter. Institutional investors and hedge funds 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.