BioLife Solutions (NASDAQ:BLFS) Trading Down 4.2%

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on BLFS. Jefferies Financial Group began coverage on BioLife Solutions in a report on Thursday, April 4th. They issued a “buy” rating and a $22.00 price objective for the company. Benchmark upgraded shares of BioLife Solutions from a “neutral” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Monday, May 13th. Finally, StockNews.com raised shares of BioLife Solutions to a “sell” rating in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.67.

BioLife Solutions Stock Performance

The stock has a market cap of $944.44 million, a price-to-earnings ratio of -14.80 and a beta of 1.80. The company has a quick ratio of 1.77, a current ratio of 2.89 and a debt-to-equity ratio of 0.05. The company has a 50 day simple moving average of $20.04 and a 200 day simple moving average of $18.10.

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

Insider Activity at BioLife Solutions

In other news, CMO Todd Berard sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $15.67, for a total value of $156,700.00. Following the completion of the transaction, the chief marketing officer now owns 129,644 shares of the company’s stock, valued at $2,031,521.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other BioLife Solutions news, insider Sarah Aebersold sold 4,000 shares of BioLife Solutions stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $17.65, for a total transaction of $70,600.00. Following the transaction, the insider now directly owns 65,843 shares of the company’s stock, valued at approximately $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 company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $15.67, for a total value of $156,700.00. Following the completion of the sale, the chief marketing officer now owns 129,644 shares in the company, valued at approximately $2,031,521.48. The disclosure for this sale can be found here. Insiders have sold a total of 28,845 shares of company stock valued at $518,244 in the last 90 days. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of BioLife Solutions

Several institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its position in shares of BioLife Solutions by 1,038.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock worth $39,031,000 after acquiring an additional 2,191,002 shares in the last quarter. Vanguard Group Inc. lifted its stake in BioLife Solutions by 11.5% in the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock valued at $53,208,000 after buying an additional 296,727 shares during the period. Granahan Investment Management LLC boosted its holdings in shares of BioLife Solutions by 22.8% during the 4th quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock worth $21,006,000 after buying an additional 240,001 shares in the last quarter. Roubaix Capital LLC grew its position in shares of BioLife Solutions by 90.8% during the 4th quarter. Roubaix Capital LLC now owns 280,337 shares of the medical equipment provider’s stock worth $4,555,000 after buying an additional 133,439 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of BioLife Solutions by 161,879.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 131,203 shares of the medical equipment provider’s stock valued at $2,434,000 after acquiring an additional 131,122 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

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.