BioLife Solutions (NASDAQ:BLFS) Shares Down 5.1%

BioLife Solutions, Inc. (NASDAQ:BLFS)’s stock price dropped 5.1% during mid-day trading on Tuesday . The company traded as low as $19.41 and last traded at $19.41. Approximately 117,283 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 395,250 shares. The stock had previously closed at $20.45.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Jefferies Financial Group initiated coverage on BioLife Solutions in a research note on Thursday, April 4th. They issued a “buy” rating and a $22.00 price objective for the company. StockNews.com raised shares of BioLife Solutions to a “sell” rating in a research note on Friday, May 10th. Finally, Benchmark raised shares of BioLife Solutions from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Monday, May 13th. One research 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.67.

BioLife Solutions Trading Up 8.6 %

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’s 50-day moving average is $20.73 and its 200-day moving average is $18.50. The stock has a market capitalization of $966.09 million, a price-to-earnings ratio of -14.77 and a beta of 1.85.

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, topping analysts’ consensus estimates of ($0.25) by $0.06. The business had revenue of $31.73 million during the quarter, compared to the consensus estimate of $29.30 million. BioLife Solutions had a negative net margin of 45.84% and a negative return on equity of 12.89%. During the same quarter last year, the firm earned ($0.27) EPS. Research analysts anticipate that BioLife Solutions, Inc. will post -0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Todd Berard sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $15.67, for a total value of $156,700.00. Following the sale, the chief marketing officer now directly owns 129,644 shares of the company’s stock, valued at approximately $2,031,521.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Sarah Aebersold sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $21.03, for a total transaction of $63,090.00. Following the completion of the transaction, the insider now directly owns 61,683 shares in the company, valued at approximately $1,297,193.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Todd Berard sold 10,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $15.67, for a total transaction of $156,700.00. Following the sale, the chief marketing officer now owns 129,644 shares in the company, valued at $2,031,521.48. The disclosure for this sale can be found here. Insiders sold a total of 27,845 shares of company stock valued at $510,734 over the last 90 days. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioLife Solutions

Several large investors have recently added to or reduced their stakes in BLFS. Goldman Sachs Group Inc. grew its stake in shares of BioLife Solutions by 1,038.9% in the fourth 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. grew its stake in 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 purchasing an additional 296,727 shares in the last quarter. Granahan Investment Management LLC increased its holdings in 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 purchasing an additional 240,001 shares during the period. Roubaix Capital LLC raised its position in BioLife Solutions by 90.8% in the 4th quarter. Roubaix Capital LLC now owns 280,337 shares of the medical equipment provider’s stock valued at $4,555,000 after purchasing an additional 133,439 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in 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 purchasing an additional 131,122 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other 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.