BioLife Solutions (NASDAQ:BLFS) Shares Down 2%

BioLife Solutions, Inc. (NASDAQ:BLFS) traded down 2% on Tuesday . The stock traded as low as $24.90 and last traded at $24.95. 66,256 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 380,431 shares. The stock had previously closed at $25.46.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Northland Securities increased their target price on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Craig Hallum increased their price objective 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. Finally, TD Cowen lifted their target price on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.20.

BioLife Solutions Stock Performance

The stock has a market cap of $1.09 billion, a PE ratio of -16.89 and a beta of 1.87. The stock has a fifty day simple moving average of $23.80 and a two-hundred day simple moving average of $20.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.81 and a current ratio of 2.86.

BioLife Solutions (NASDAQ:BLFS) last announced its 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 net margin of 59.88% and a negative return on equity of 10.75%. The business had revenue of $28.33 million during the quarter, compared to the consensus estimate of $23.80 million. Equities analysts anticipate that BioLife Solutions, Inc. will post -0.36 EPS for the current fiscal year.

Insider Activity

In related news, insider Sarah Aebersold sold 3,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $21.03, for a total value of $63,090.00. Following the transaction, the insider now owns 61,683 shares in the company, valued at $1,297,193.49. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its position in shares of BioLife Solutions by 1,038.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock worth $39,031,000 after purchasing an additional 2,191,002 shares during the last quarter. Mutual of America Capital Management LLC acquired a new position in BioLife Solutions in the second quarter worth about $8,592,000. Vanguard Group Inc. increased its holdings in BioLife Solutions by 11.5% in the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock valued at $53,208,000 after buying an additional 296,727 shares during the last quarter. Granahan Investment Management LLC increased its holdings in BioLife Solutions by 22.8% in the fourth quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock valued at $21,006,000 after buying an additional 240,001 shares during the last quarter. Finally, Raymond James & Associates acquired a new stake in BioLife Solutions during the second quarter valued at approximately $2,876,000. Institutional investors own 93.24% of the company’s stock.

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.