BioLife Solutions (NASDAQ:BLFS) Stock Price Down 7.7% – Here’s Why

BioLife Solutions, Inc. (NASDAQ:BLFS) dropped 7.7% during mid-day trading on Monday . The company traded as low as $24.72 and last traded at $23.96. Approximately 99,469 shares traded hands during trading, a decline of 72% from the average daily volume of 352,675 shares. The stock had previously closed at $25.96.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BLFS shares. HC Wainwright upped their target price on shares of BioLife Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Northland Securities upped their price objective on shares of BioLife Solutions from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. StockNews.com lowered BioLife Solutions from a “hold” rating to a “sell” rating in a report on Monday. Benchmark restated a “buy” rating and issued a $30.00 price target on shares of BioLife Solutions in a report on Thursday, December 19th. Finally, KeyCorp lifted their price objective on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.86.

BioLife Solutions Trading Down 0.0 %

The company has a quick ratio of 1.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.07 billion, a P/E ratio of -21.54 and a beta of 2.04. The business has a fifty day moving average price of $26.19 and a 200 day moving average price of $25.55.

BioLife Solutions (NASDAQ:BLFS) last released its earnings results 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 firm had revenue of $22.71 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted ($0.21) EPS. On average, analysts expect that BioLife Solutions, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Sarah Aebersold sold 5,632 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $24.96, for a total value of $140,574.72. Following the completion of the sale, the insider now owns 45,860 shares of the company’s stock, valued at approximately $1,144,665.60. This represents a 10.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Todd Berard sold 1,577 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total transaction of $39,425.00. Following the transaction, the chief marketing officer now owns 104,961 shares in the company, valued at approximately $2,624,025. The trade was a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,117 shares of company stock worth $534,442. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On BioLife Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC acquired a new stake in shares of BioLife Solutions in the third quarter valued at approximately $255,000. Charles Schwab Investment Management Inc. lifted its holdings in BioLife Solutions by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 319,959 shares of the medical equipment provider’s stock valued at $8,012,000 after purchasing an additional 9,750 shares during the last quarter. Cerity Partners LLC boosted its position in BioLife Solutions by 6.6% during the third quarter. Cerity Partners LLC now owns 44,914 shares of the medical equipment provider’s stock worth $1,125,000 after purchasing an additional 2,776 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of BioLife Solutions by 40.8% in the third quarter. The Manufacturers Life Insurance Company now owns 19,463 shares of the medical equipment provider’s stock valued at $487,000 after purchasing an additional 5,638 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of BioLife Solutions by 470.6% in the third quarter. FMR LLC now owns 13,317 shares of the medical equipment provider’s stock valued at $333,000 after purchasing an additional 10,983 shares during the last quarter. 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.