Insider Selling: BioLife Solutions, Inc. (NASDAQ:BLFS) CRO Sells $77,118.40 in Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the completion of the transaction, the executive now owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. The sale was disclosed in a document filed with the SEC, which is available at this link.

BioLife Solutions Stock Performance

Shares of BLFS opened at $25.77 on Friday. The firm has a fifty day moving average of $24.17 and a 200-day moving average of $20.91. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -18.15 and a beta of 1.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.81 and a current ratio of 2.86. BioLife Solutions, Inc. has a 1 year low of $8.92 and a 1 year high of $26.73.

BioLife Solutions (NASDAQ:BLFS) last posted 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 net margin of 59.88% and a negative return on equity of 10.75%. The firm had revenue of $28.33 million during the quarter, compared to analyst estimates of $23.80 million. As a group, equities analysts anticipate that BioLife Solutions, Inc. will post -0.36 earnings per share for the current year.

Hedge Funds Weigh In On BioLife Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. bought a new stake in BioLife Solutions during the 2nd quarter valued at $35,000. Isthmus Partners LLC raised its stake in shares of 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 in the last quarter. Register Financial Advisors LLC acquired a new stake in BioLife Solutions in the first quarter worth about $96,000. Canada Pension Plan Investment Board bought a new position in BioLife Solutions in the 2nd quarter valued at about $122,000. Finally, Arizona State Retirement System acquired a new position in BioLife Solutions during the 2nd quarter valued at about $217,000. 93.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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