BioLife Solutions (NASDAQ:BLFS) Trading Up 9.2% – Here’s Why

BioLife Solutions, Inc. (NASDAQ:BLFS)’s stock price traded up 9.2% during mid-day trading on Friday . The stock traded as high as $23.28 and last traded at $23.47. 216,157 shares were traded during trading, a decline of 45% from the average session volume of 393,166 shares. The stock had previously closed at $21.50.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of BioLife Solutions in a report on Tuesday, May 13th. Wall Street Zen downgraded BioLife Solutions from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.17.

BioLife Solutions Stock Up 10.3%

The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -22.37 and a beta of 1.82. The stock has a fifty day moving average of $22.58 and a two-hundred day moving average of $25.06. 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 (NASDAQ:BLFS) last issued its quarterly earnings results on Thursday, May 8th. The medical equipment provider reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. The business had revenue of $23.94 million for the quarter, compared to analysts’ expectations of $22.22 million. BioLife Solutions had a negative net margin of 38.98% and a negative return on equity of 6.61%. Sell-side analysts anticipate that BioLife Solutions, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling at BioLife Solutions

In other BioLife Solutions news, EVP Aby J. Mathew sold 1,597 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total transaction of $39,925.00. Following the sale, the executive vice president now owns 260,601 shares of the company’s stock, valued at approximately $6,515,025. This represents a 0.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sarah Aebersold sold 2,695 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.44, for a total transaction of $68,560.80. Following the sale, the insider now directly owns 43,165 shares in the company, valued at $1,098,117.60. This trade represents a 5.88% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,756 shares of company stock valued at $1,660,535. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BioLife Solutions

Institutional investors and hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC bought a new position in shares of BioLife Solutions during the 4th quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of BioLife Solutions during the 4th quarter worth about $31,000. State of Wyoming boosted its position in shares of BioLife Solutions by 353.1% during the 1st quarter. State of Wyoming now owns 1,912 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 1,490 shares in the last quarter. US Bancorp DE boosted its position in shares of BioLife Solutions by 243.7% during the 1st quarter. US Bancorp DE now owns 2,155 shares of the medical equipment provider’s stock worth $49,000 after purchasing an additional 1,528 shares in the last quarter. Finally, 1620 Investment Advisors Inc. boosted its position in shares of 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 purchasing an additional 675 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

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.