BioLife Solutions (NASDAQ:BLFS) Trading Down 2.6% on Insider Selling

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) fell 2.6% during trading on Friday following insider selling activity. The stock traded as low as $24.42 and last traded at $24.42. 142,491 shares were traded during trading, a decline of 59% from the average session volume of 349,003 shares. The stock had previously closed at $25.06.

Specifically, CFO Troy Wichterman sold 4,151 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total transaction of $103,775.00. Following the transaction, the chief financial officer now owns 116,809 shares of the company’s stock, valued at approximately $2,920,225. This represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Aby J. Mathew sold 1,597 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total value of $39,925.00. Following the transaction, the executive vice president now directly owns 260,601 shares in the company, valued at approximately $6,515,025. This represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. In other news, insider Sarah Aebersold sold 1,091 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total transaction of $27,275.00. Following the transaction, the insider now owns 58,816 shares of the company’s stock, valued at approximately $1,470,400. This represents a 1.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

A number of research firms have recently commented on BLFS. KeyCorp upped their target price on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Benchmark reissued a “buy” rating and issued a $30.00 price objective on shares of BioLife Solutions in a research note on Thursday, December 19th. Northland Securities increased their price objective on BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Finally, HC Wainwright increased their price objective on BioLife Solutions from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.86.

BioLife Solutions Stock Performance

The business has a fifty day simple moving average of $26.59 and a two-hundred day simple moving average of $25.49. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. The company has a market cap of $1.18 billion, a PE ratio of -23.58 and a beta of 2.04.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings data 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. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. The firm had revenue of $22.71 million during the quarter, compared to analyst estimates of $21.73 million. During the same quarter in the prior year, the business posted ($0.21) EPS. Research analysts anticipate that BioLife Solutions, Inc. will post -0.3 earnings per share for the current year.

Institutional Trading of BioLife Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC acquired a new position in shares of BioLife Solutions in the 4th quarter valued at $26,000. Mark Sheptoff Financial Planning LLC acquired a new stake in BioLife Solutions during the 3rd quarter worth about $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in BioLife Solutions during the 4th quarter worth about $31,000. Quest Partners LLC acquired a new stake in shares of BioLife Solutions during the 3rd quarter valued at about $57,000. Finally, 1620 Investment Advisors Inc. grew its position in shares of BioLife Solutions by 41.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider’s stock valued at $60,000 after acquiring an additional 675 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.