Insider Selling: BioLife Solutions, Inc. (NASDAQ:BLFS) CFO Sells 660 Shares of Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) CFO Troy Wichterman sold 660 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $25.46, for a total transaction of $16,803.60. Following the completion of the transaction, the chief financial officer now directly owns 120,960 shares in the company, valued at approximately $3,079,641.60. The trade was a 0.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Troy Wichterman also recently made the following trade(s):

• On Wednesday, February 12th, Troy Wichterman sold 159 shares of BioLife Solutions stock. The shares were sold at an average price of $26.54, for a total value of $4,219.86.
• On Monday, January 6th, Troy Wichterman sold 987 shares of BioLife Solutions stock. The stock was sold at an average price of $27.02, for a total value of $26,668.74.

BioLife Solutions Stock Performance

Shares of NASDAQ:BLFS traded up $1.41 during mid-day trading on Wednesday, reaching $26.25. The company had a trading volume of 502,346 shares, compared to its average volume of 270,046. BioLife Solutions, Inc. has a one year low of $14.84 and a one year high of $29.55. 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 company’s 50-day moving average price is $26.67 and its 200-day moving average price is $25.48. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -24.76 and a beta of 1.91.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.32. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. The firm had revenue of $22.71 million for the quarter, compared to analysts’ expectations of $21.73 million. During the same quarter in the prior year, the firm earned ($0.21) EPS. As a group, equities research analysts anticipate that BioLife Solutions, Inc. will post -0.3 EPS for the current fiscal year.

Institutional Trading of BioLife Solutions

Hedge funds and other institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new position in BioLife Solutions in the 4th quarter worth approximately $26,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of BioLife Solutions during the third quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BioLife Solutions during the fourth quarter valued at about $31,000. Quest Partners LLC purchased a new position in BioLife Solutions during the third quarter valued at approximately $57,000. Finally, 1620 Investment Advisors Inc. increased its holdings in BioLife Solutions by 41.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider’s stock worth $60,000 after acquiring an additional 675 shares during the period. Institutional investors own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Craig Hallum lifted their price objective on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Northland Securities upped their price objective on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. HC Wainwright decreased their price objective on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, November 18th. Benchmark restated a “buy” rating and issued a $30.00 target price on shares of BioLife Solutions in a research note on Thursday, December 19th. Finally, KeyCorp increased their price target on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating and seven 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 a consensus target price of $29.43.

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.