BioLife Solutions (NASDAQ:BLFS) Shares Gap Down After Analyst Downgrade

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) gapped down before the market opened on Monday after HC Wainwright lowered their price target on the stock from $29.00 to $27.00. The stock had previously closed at $21.02, but opened at $20.30. HC Wainwright currently has a buy rating on the stock. BioLife Solutions shares last traded at $19.60, with a volume of 61,540 shares changing hands.

Several other equities analysts have also commented on the stock. TD Cowen upped their price objective on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Craig Hallum lifted their price objective on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Northland Securities raised their price objective on shares of 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 six have issued a buy rating to the company’s stock. According to MarketBeat, BioLife Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

Insider Activity

In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the sale, the executive now directly owns 114,773 shares of the company’s stock, valued at $2,883,097.76. This trade represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Aby J. Mathew sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the transaction, the executive vice president now directly owns 317,716 shares in the company, valued at $7,593,412.40. This trade represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,644 shares of company stock valued at $1,527,503 over the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

Several institutional investors have recently modified their holdings of the company. Stifel Financial Corp boosted its stake in BioLife Solutions by 5.4% in the 3rd quarter. Stifel Financial Corp now owns 12,988 shares of the medical equipment provider’s stock worth $325,000 after purchasing an additional 670 shares during the period. Louisiana State Employees Retirement System increased its position in BioLife Solutions by 4.0% during the second quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the medical equipment provider’s stock worth $392,000 after buying an additional 700 shares during the last quarter. GAMMA Investing LLC raised its holdings in BioLife Solutions by 29.4% during the third quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock valued at $83,000 after buying an additional 748 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of BioLife Solutions by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock worth $296,000 after acquiring an additional 753 shares in the last quarter. Finally, Sei Investments Co. grew its holdings 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 purchasing an additional 839 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

BioLife Solutions Stock Up 9.6 %

The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The firm’s fifty day moving average is $23.92 and its 200 day moving average is $22.87. The stock has a market cap of $1.04 billion, a P/E ratio of -21.17 and a beta of 1.88.

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.