BioLife Solutions (NASDAQ:BLFS) Shares Gap Down on Analyst Downgrade

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) gapped down prior to trading on Monday after HC Wainwright lowered their price target on the stock from $29.00 to $27.00. The stock had previously closed at $21.02, but opened at $20.30. HC Wainwright currently has a buy rating on the stock. BioLife Solutions shares last traded at $19.60, with a volume of 61,540 shares.

A number of other analysts have also commented on BLFS. Northland Securities lifted their price target on BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Craig Hallum increased their price objective on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, TD Cowen increased their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

Insider Buying and Selling at BioLife Solutions

In related news, 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 transaction, the executive now directly owns 114,773 shares of the company’s stock, valued at $2,883,097.76. This trade represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Aby J. Mathew sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the sale, the executive vice president now directly owns 317,716 shares in the company, valued at approximately $7,593,412.40. The trade was a 3.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,644 shares of company stock worth $1,527,503 over the last 90 days. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC purchased a new position in BioLife Solutions in the 2nd quarter worth $466,000. Vanguard Group Inc. raised its holdings in shares of BioLife Solutions by 11.5% during the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock worth $53,208,000 after purchasing an additional 296,727 shares during the last quarter. Isthmus Partners LLC lifted its position in BioLife Solutions by 34.4% during the second quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 42,265 shares during the period. Mutual of America Capital Management LLC purchased a new stake in BioLife Solutions in the second quarter valued at $8,592,000. Finally, Envestnet Asset Management Inc. boosted its holdings in BioLife Solutions by 261.5% in the second quarter. Envestnet Asset Management Inc. now owns 127,215 shares of the medical equipment provider’s stock valued at $2,726,000 after purchasing an additional 92,021 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

BioLife Solutions Price Performance

The firm has a market cap of $1.04 billion, a PE ratio of -21.17 and a beta of 1.88. The stock has a 50 day simple moving average of $23.92 and a two-hundred day simple moving average of $22.87. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78.

About BioLife Solutions

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.