BioLife Solutions, Inc. (NASDAQ:BLFS) CRO Garrie Richardson Sells 3,070 Shares

BioLife Solutions, Inc. (NASDAQ:BLFS) CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.12, for a total transaction of $77,118.40. Following the completion of the transaction, the executive now directly 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 through the SEC website.

BioLife Solutions Stock Performance

BLFS traded up $0.27 during trading on Wednesday, hitting $23.72. The stock had a trading volume of 401,781 shares, compared to its average volume of 383,091. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.86 and a quick ratio of 1.81. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -16.81 and a beta of 1.87. The company has a 50 day moving average price of $23.89 and a 200-day moving average price of $20.81. BioLife Solutions, Inc. has a one year low of $8.92 and a one year high of $26.73.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) EPS for the quarter, beating the consensus estimate 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 business had revenue of $28.33 million for the quarter, compared to the consensus estimate of $23.80 million. As a group, research analysts predict that BioLife Solutions, Inc. will post -0.36 EPS for the current year.

Institutional Investors Weigh In On BioLife Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in BLFS. 1620 Investment Advisors Inc. acquired a new stake in shares of BioLife Solutions during the 2nd quarter worth $35,000. Isthmus Partners LLC lifted its holdings in shares of BioLife Solutions by 34.4% during the 2nd quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 42,265 shares during the period. Register Financial Advisors LLC acquired a new stake in shares of BioLife Solutions during the 1st quarter worth approximately $96,000. Canada Pension Plan Investment Board acquired a new stake in shares of BioLife Solutions during the 2nd quarter worth approximately $122,000. Finally, Arizona State Retirement System bought a new position in BioLife Solutions in the second quarter valued at approximately $217,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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