BioLife Solutions (NASDAQ:BLFS) Shares Gap Down Following Analyst Downgrade

BioLife Solutions, Inc. (NASDAQ:BLFS) shares gapped down prior to trading on Monday after HC Wainwright lowered their price target on the stock from $29.00 to $27.00. The stock had previously closed at $21.02, but opened at $20.30. HC Wainwright currently has a buy rating on the stock. BioLife Solutions shares last traded at $19.60, with a volume of 61,540 shares traded.

Several other analysts have also recently issued reports on BLFS. Northland Securities increased their target price on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. TD Cowen lifted their price objective on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Craig Hallum raised their target price on shares of BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, BioLife Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

Insiders Place Their Bets

In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.12, for a total transaction of $77,118.40. Following the completion of the sale, the executive now owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. The trade was a 2.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $23.28, for a total transaction of $232,800.00. Following the completion of the transaction, the executive vice president now owns 317,716 shares in the company, valued at approximately $7,396,428.48. This trade represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,471 shares of company stock valued at $656,330. Insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

Large investors have recently made changes to their positions in the business. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of BioLife Solutions during the 3rd quarter worth approximately $28,000. 1620 Investment Advisors Inc. purchased a new stake in shares of BioLife Solutions during the second quarter worth $35,000. Isthmus Partners LLC raised its holdings in BioLife Solutions by 34.4% in the 2nd quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 42,265 shares during the last quarter. Quest Partners LLC purchased a new position in BioLife Solutions during the third quarter worth approximately $57,000. Finally, GAMMA Investing LLC raised its holdings in shares of BioLife Solutions by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after acquiring an additional 748 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

BioLife Solutions Stock Down 5.6 %

The company has a market capitalization of $920.84 million, a price-to-earnings ratio of -19.83 and a beta of 1.88. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.03. The firm’s fifty day simple moving average is $24.00 and its two-hundred day simple moving average is $22.82.

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.