Insider Selling: BioLife Solutions, Inc. (NASDAQ:BLFS) EVP Sells 10,000 Shares of Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $23.28, for a total value of $232,800.00. Following the transaction, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at approximately $7,396,428.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

BioLife Solutions Trading Up 0.8 %

BioLife Solutions stock traded up $0.19 during midday trading on Thursday, reaching $23.14. 246,445 shares of the stock traded hands, compared to its average volume of 373,191. The company has a 50-day simple moving average of $24.64 and a two-hundred day simple moving average of $21.72. BioLife Solutions, Inc. has a 12-month low of $8.92 and a 12-month high of $26.73. The firm has a market cap of $1.07 billion, a PE ratio of -16.30 and a beta of 1.88. The company has a current ratio of 2.86, a quick ratio of 1.81 and a debt-to-equity ratio of 0.04.

BioLife Solutions (NASDAQ:BLFS) last announced its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) 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 company had revenue of $28.33 million during the quarter, compared to analysts’ expectations of $23.80 million. Research analysts expect that BioLife Solutions, Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BLFS shares. TD Cowen increased their price objective on BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. HC Wainwright started coverage on BioLife Solutions in a research note on Monday, September 30th. They issued a “buy” rating and a $29.00 price objective for the company. Northland Securities increased their price objective on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, Craig Hallum increased their price objective on BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.67.

Hedge Funds Weigh In On BioLife Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of BLFS. 1620 Investment Advisors Inc. acquired a new stake in shares of BioLife Solutions during the 2nd quarter worth about $35,000. Isthmus Partners LLC grew its stake in shares of 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 purchasing an additional 42,265 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of BioLife Solutions by 29.4% in the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock valued at $83,000 after purchasing an additional 748 shares during the last quarter. Register Financial Advisors LLC purchased a new position in shares of BioLife Solutions in the 1st quarter valued at approximately $96,000. Finally, Canada Pension Plan Investment Board purchased a new stake in BioLife Solutions during the second quarter worth $122,000. 93.24% of the stock is currently 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.