BioLife Solutions (NASDAQ:BLFS) Stock Passes Below 200-Day Moving Average – Here’s Why

BioLife Solutions, Inc. (NASDAQ:BLFS)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.46 and traded as low as $19.51. BioLife Solutions shares last traded at $19.65, with a volume of 222,911 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on BLFS. Weiss Ratings restated a “sell (d-)” rating on shares of BioLife Solutions in a report on Wednesday, January 21st. Zacks Research raised BioLife Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Northland Securities set a $34.00 price target on BioLife Solutions in a research note on Monday, January 5th. Wall Street Zen raised BioLife Solutions from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Finally, HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of BioLife Solutions in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, BioLife Solutions has a consensus rating of “Moderate Buy” and an average price target of $32.00.

BioLife Solutions Price Performance

The stock has a market capitalization of $897.90 million, a price-to-earnings ratio of -168.98 and a beta of 1.90. The firm has a 50 day simple moving average of $21.71 and a 200-day simple moving average of $24.41.

Insider Transactions at BioLife Solutions

In related news, CFO Troy Wichterman sold 990 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $25.59, for a total transaction of $25,334.10. Following the sale, the chief financial officer directly owned 150,746 shares in the company, valued at $3,857,590.14. This represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karen A. Foster sold 96,923 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $20.15, for a total value of $1,952,998.45. Following the sale, the insider directly owned 113,742 shares of the company’s stock, valued at $2,291,901.30. This represents a 46.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 101,956 shares of company stock worth $2,068,241. Company insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

Large investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. raised its holdings in shares of BioLife Solutions by 27.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,180,824 shares of the medical equipment provider’s stock valued at $125,273,000 after buying an additional 1,113,972 shares during the last quarter. Invesco Ltd. boosted its holdings in BioLife Solutions by 9.2% in the fourth quarter. Invesco Ltd. now owns 3,932,191 shares of the medical equipment provider’s stock valued at $95,080,000 after acquiring an additional 332,747 shares during the last quarter. XTX Topco Ltd boosted its holdings in BioLife Solutions by 280.4% in the fourth quarter. XTX Topco Ltd now owns 36,262 shares of the medical equipment provider’s stock valued at $877,000 after acquiring an additional 26,729 shares during the last quarter. SummitTX Capital L.P. acquired a new stake in BioLife Solutions in the fourth quarter worth about $1,747,000. Finally, Sandler Capital Management acquired a new stake in BioLife Solutions in the fourth quarter worth about $765,000. Institutional investors own 93.24% of the company’s stock.

BioLife Solutions Company Profile

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.