Aby J. Mathew Sells 10,589 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) Stock

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) EVP Aby J. Mathew sold 10,589 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $22.66, for a total value of $239,946.74. Following the completion of the sale, the executive vice president now directly owns 309,576 shares of the company's stock, valued at approximately $7,014,992.16. This represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

BioLife Solutions Stock Down 5.9 %

NASDAQ:BLFS traded down $1.30 during trading hours on Tuesday, reaching $20.64. The company's stock had a trading volume of 785,746 shares, compared to its average volume of 367,480. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. The company has a market cap of $970.08 million, a price-to-earnings ratio of -19.47 and a beta of 1.93. BioLife Solutions, Inc. has a one year low of $14.84 and a one year high of $29.55. The business's 50-day moving average is $25.43 and its 200-day moving average is $25.41.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.32. The company had revenue of $22.71 million during the quarter, compared to the consensus estimate of $21.73 million. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. During the same quarter in the prior year, the company posted ($0.21) EPS. Equities research analysts predict that BioLife Solutions, Inc. will post -0.3 EPS for the current year.

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Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. HC Wainwright upped their price objective on shares of BioLife Solutions from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Northland Securities boosted their price target on shares of BioLife Solutions from $28.00 to $31.00 and gave the company an "outperform" rating in a report on Wednesday, January 8th. StockNews.com upgraded BioLife Solutions from a "sell" rating to a "hold" rating in a report on Tuesday. 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 raised their price target on BioLife Solutions from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, BioLife Solutions has an average rating of "Moderate Buy" and a consensus price target of $31.17.

Hedge Funds Weigh In On BioLife Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC acquired a new stake in shares of BioLife Solutions in the fourth quarter worth $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in BioLife Solutions during the 4th quarter worth $31,000. 1620 Investment Advisors Inc. lifted its position 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 last quarter. Smartleaf Asset Management LLC grew its position in shares of BioLife Solutions by 27.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,469 shares of the medical equipment provider's stock valued at $117,000 after purchasing an additional 950 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of BioLife Solutions in the fourth quarter valued at about $171,000. Institutional investors and hedge funds 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.