BioLife Solutions (NASDAQ:BLFS) Hits New 1-Year Low on Insider Selling

BioLife Solutions, Inc. (NASDAQ:BLFS) reached a new 52-week low on Tuesday after an insider sold shares in the company. The stock traded as low as $19.03 and last traded at $18.9960, with a volume of 80593 shares traded. The stock had previously closed at $19.90.

Specifically, insider Karen A. Foster sold 96,923 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $20.15, for a total transaction of $1,952,998.45. Following the completion of the sale, the insider owned 113,742 shares in the company, valued at $2,291,901.30. This represents a 46.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BLFS shares. UBS Group reissued a “buy” rating on shares of BioLife Solutions in a report on Monday, December 29th. Wall Street Zen raised shares of BioLife Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of BioLife Solutions in a report on Monday, December 29th. Zacks Research raised shares of BioLife Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioLife Solutions in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

BioLife Solutions Stock Performance

The firm’s 50-day moving average is $23.26 and its 200 day moving average is $25.03. The firm has a market capitalization of $929.87 million, a PE ratio of -172.85 and a beta of 1.90.

Institutional Trading of BioLife Solutions

Large investors have recently modified their holdings of the business. Amalgamated Bank lifted its holdings in BioLife Solutions by 3.5% in the 3rd quarter. Amalgamated Bank now owns 10,898 shares of the medical equipment provider’s stock valued at $278,000 after purchasing an additional 366 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of BioLife Solutions by 12.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,873 shares of the medical equipment provider’s stock worth $83,000 after buying an additional 441 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of BioLife Solutions by 2.9% in the third quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the medical equipment provider’s stock valued at $454,000 after buying an additional 500 shares during the last quarter. Isthmus Partners LLC lifted its stake in shares of BioLife Solutions by 0.4% during the second quarter. Isthmus Partners LLC now owns 132,125 shares of the medical equipment provider’s stock valued at $2,846,000 after buying an additional 509 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of BioLife Solutions by 2.7% during the second quarter. The Manufacturers Life Insurance Company now owns 20,764 shares of the medical equipment provider’s stock valued at $447,000 after buying an additional 555 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

About BioLife Solutions

BioLife Solutions (NASDAQ:BLFS) specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife’s product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company’s flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.