BioLife Solutions, Inc. (NASDAQ:BLFS) Short Interest Down 23.4% in November

BioLife Solutions, Inc. (NASDAQ:BLFS) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 2,680,000 shares, a decline of 23.4% from the October 31st total of 3,500,000 shares. Based on an average daily trading volume, of 384,000 shares, the short-interest ratio is presently 7.0 days.

BioLife Solutions Stock Performance

BLFS traded up $0.31 during trading on Friday, hitting $27.47. The stock had a trading volume of 200,092 shares, compared to its average volume of 388,973. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. The company has a 50 day moving average price of $24.23 and a 200-day moving average price of $23.24. BioLife Solutions has a one year low of $11.91 and a one year high of $28.88. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -25.92 and a beta of 1.88.

Wall Street Analyst Weigh In

A number of research firms recently commented on BLFS. Northland Securities lifted their price target on BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Craig Hallum lifted their target price on BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. HC Wainwright dropped their price target on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Finally, 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. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.50.

Insider Buying and Selling at BioLife Solutions

In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.12, for a total transaction of $77,118.40. Following the sale, the executive now directly owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total transaction of $239,000.00. Following the completion of the transaction, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. This trade represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,313 shares of company stock worth $1,572,899. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of 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. Fred Alger Management LLC raised its holdings in BioLife Solutions by 6.0% in the 2nd quarter. Fred Alger Management LLC now owns 1,579,138 shares of the medical equipment provider’s stock valued at $33,841,000 after acquiring an additional 88,840 shares in the last quarter. State Street Corp raised its holdings in BioLife Solutions by 7.3% in the 3rd quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock valued at $35,364,000 after acquiring an additional 95,788 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of BioLife Solutions by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider’s stock valued at $21,107,000 after acquiring an additional 18,473 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of BioLife Solutions by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 794,971 shares of the medical equipment provider’s stock worth $17,034,000 after purchasing an additional 66,422 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

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.