BioLife Solutions, Inc. (NASDAQ:BLFS) Short Interest Up 20.9% in November

BioLife Solutions, Inc. (NASDAQ:BLFS) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 3,240,000 shares, an increase of 20.9% from the November 15th total of 2,680,000 shares. Based on an average daily trading volume, of 384,100 shares, the short-interest ratio is currently 8.4 days.

BioLife Solutions Stock Performance

NASDAQ:BLFS opened at $26.70 on Monday. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -25.19 and a beta of 1.91. The business has a 50 day moving average of $24.62 and a 200 day moving average of $23.57. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. BioLife Solutions has a 1-year low of $13.99 and a 1-year high of $28.88.

Insider Buying and Selling at BioLife Solutions

In related news, EVP Aby J. Mathew sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $21.17, for a total value of $529,250.00. Following the transaction, the executive vice president now owns 302,046 shares in the company, valued at approximately $6,394,313.82. This represents a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 66,655 shares of company stock worth $1,455,890. Insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

Several hedge funds have recently added to or reduced their stakes in the business. Isthmus Partners LLC grew its holdings in BioLife Solutions by 34.4% in 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 last quarter. Mutual of America Capital Management LLC bought a new stake in shares of BioLife Solutions in the second quarter worth about $8,592,000. The Manufacturers Life Insurance Company increased its holdings in BioLife Solutions by 40.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,463 shares of the medical equipment provider’s stock valued at $487,000 after purchasing an additional 5,638 shares during the period. Envestnet Asset Management Inc. raised its position in BioLife Solutions by 261.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 127,215 shares of the medical equipment provider’s stock valued at $2,726,000 after purchasing an additional 92,021 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new position in shares of BioLife Solutions during the second quarter valued at approximately $233,000. 93.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BLFS. TD Cowen lifted their price objective on shares of BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Craig Hallum increased their target price on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. KeyCorp lifted their price objective on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday. Finally, HC Wainwright decreased their target price on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.29.

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.