BioLife Solutions (NASDAQ:BLFS) Shares Down 2.5% on Insider Selling

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) dropped 2.5% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $19.72 and last traded at $19.72. Approximately 59,668 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 399,443 shares. The stock had previously closed at $20.23.

Specifically, insider Sarah Aebersold sold 3,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,297,193.49. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CMO Todd Berard sold 10,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $20.18, for a total transaction of $201,800.00. Following the completion of the transaction, the chief marketing officer now owns 108,894 shares of the company’s stock, valued at approximately $2,197,480.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sarah Aebersold sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $21.03, for a total transaction of $63,090.00. Following the completion of the sale, the insider now directly owns 61,683 shares in the company, valued at $1,297,193.49. The disclosure for this sale can be found here. In the last three months, insiders sold 27,845 shares of company stock worth $510,734. 2.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BLFS has been the subject of a number of research reports. Benchmark raised BioLife Solutions from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Monday, May 13th. Jefferies Financial Group assumed coverage on shares of BioLife Solutions in a research report on Thursday, April 4th. They set a “buy” rating and a $22.00 price target for the company. Finally, StockNews.com upgraded BioLife Solutions to a “sell” rating in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, BioLife Solutions has an average rating of “Moderate Buy” and a consensus target price of $23.67.

BioLife Solutions Price Performance

The company has a quick ratio of 1.77, a current ratio of 2.89 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $20.51 and its 200-day moving average is $18.35.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, May 9th. The medical equipment provider reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.06. The business had revenue of $31.73 million for the quarter, compared to analyst estimates of $29.30 million. BioLife Solutions had a negative net margin of 45.84% and a negative return on equity of 12.89%. During the same quarter in the prior year, the business posted ($0.27) EPS. Equities research analysts predict that BioLife Solutions, Inc. will post -0.44 earnings per share for the current year.

Institutional Investors Weigh In On BioLife Solutions

Several institutional investors and hedge funds have recently made changes to their positions in BLFS. Nisa Investment Advisors LLC grew its holdings in shares of BioLife Solutions by 167.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 1,020 shares during the last quarter. GAMMA Investing LLC acquired a new stake in BioLife Solutions in the fourth quarter worth $41,000. Register Financial Advisors LLC bought a new stake in BioLife Solutions in the first quarter valued at $96,000. State Board of Administration of Florida Retirement System acquired a new position in shares of BioLife Solutions during the first quarter valued at $229,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of BioLife Solutions by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,129 shares of the medical equipment provider’s stock worth $281,000 after acquiring an additional 1,374 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

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.