BioLife Solutions, Inc. (NASDAQ:BLFS) Short Interest Update

BioLife Solutions, Inc. (NASDAQ:BLFS) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 3,640,000 shares, a drop of 7.1% from the August 15th total of 3,920,000 shares. Based on an average trading volume of 343,500 shares, the days-to-cover ratio is presently 10.6 days.

BioLife Solutions Stock Performance

BLFS stock traded down $0.67 during trading on Tuesday, hitting $24.79. The company had a trading volume of 76,913 shares, compared to its average volume of 380,601. BioLife Solutions has a 1-year low of $8.92 and a 1-year high of $26.73. The firm has a 50-day moving average price of $23.80 and a 200-day moving average price of $20.77. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.14 billion, a PE ratio of -18.17 and a beta of 1.87.

BioLife Solutions (NASDAQ:BLFS) last released its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. The business had revenue of $28.33 million for the quarter, compared to analyst estimates of $23.80 million. On average, analysts expect that BioLife Solutions will post -0.36 earnings per share for the current year.

Insider Buying and Selling

In other BioLife Solutions news, insider Sarah Aebersold sold 3,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $21.03, for a total value of $63,090.00. Following the completion of the transaction, the insider now owns 61,683 shares in the company, valued at $1,297,193.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On BioLife Solutions

Several institutional investors have recently bought and sold shares of BLFS. Millrace Asset Group Inc. increased its stake in shares of BioLife Solutions by 116.0% during the fourth quarter. Millrace Asset Group Inc. now owns 105,643 shares of the medical equipment provider’s stock worth $1,717,000 after acquiring an additional 56,726 shares during the period. Isthmus Partners LLC boosted its holdings in BioLife Solutions by 13.3% in the 4th quarter. Isthmus Partners LLC now owns 77,082 shares of the medical equipment provider’s stock valued at $1,253,000 after purchasing an additional 9,025 shares in the last quarter. Ranger Investment Management L.P. boosted its holdings in BioLife Solutions by 6.7% in the 4th quarter. Ranger Investment Management L.P. now owns 363,574 shares of the medical equipment provider’s stock valued at $5,908,000 after purchasing an additional 22,906 shares in the last quarter. Granahan Investment Management LLC increased its position 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. Finally, Goldman Sachs Group Inc. raised its stake in shares of BioLife Solutions by 1,038.9% during 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 buying an additional 2,191,002 shares in the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BLFS shares. Craig Hallum upped their target price on BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Northland Securities increased their price objective on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, TD Cowen lifted their target price on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.20.

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.