BioLife Solutions (NASDAQ:BLFS) Shares Up 5.8%

BioLife Solutions, Inc. (NASDAQ:BLFS) rose 5.8% during trading on Thursday . The company traded as high as $25.33 and last traded at $25.10. Approximately 56,392 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 381,103 shares. The stock had previously closed at $23.72.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BLFS. Craig Hallum lifted their target price on shares of BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Northland Securities lifted their price objective on BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, TD Cowen upped their target price on BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.20.

BioLife Solutions Trading Up 0.2 %

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 $1.19 billion, a price-to-earnings ratio of -18.15 and a beta of 1.87. The business’s 50-day moving average price is $24.17 and its two-hundred day moving average price is $20.91.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $23.80 million. Equities analysts expect that BioLife Solutions, Inc. will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Aby J. Mathew sold 10,000 shares of the company’s 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 owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the stock in a transaction that occurred 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 transaction, the executive now owns 114,773 shares of the company’s stock, valued at $2,883,097.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Aby J. Mathew sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total transaction of $239,000.00. Following the sale, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at $7,593,412.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,944 shares of company stock valued at $468,709. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BLFS. Conestoga Capital Advisors LLC increased its stake in BioLife Solutions by 1.0% during the first quarter. Conestoga Capital Advisors LLC now owns 65,477 shares of the medical equipment provider’s stock worth $1,215,000 after acquiring an additional 630 shares during the last quarter. Louisiana State Employees Retirement System increased its position in BioLife Solutions by 4.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the medical equipment provider’s stock worth $392,000 after purchasing an additional 700 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in BioLife Solutions by 5.8% in the second quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock valued at $296,000 after buying an additional 753 shares during the period. Sei Investments Co. lifted its position in BioLife Solutions by 1.4% during the first quarter. Sei Investments Co. now owns 60,191 shares of the medical equipment provider’s stock valued at $1,117,000 after buying an additional 839 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in 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 valued at $281,000 after buying an additional 1,374 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.