BioLife Solutions (NASDAQ:BLFS) Shares Gap Down Following Analyst Downgrade

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report)'s share price gapped down before the market opened on Monday after HC Wainwright lowered their price target on the stock from $29.00 to $27.00. The stock had previously closed at $21.02, but opened at $20.30. HC Wainwright currently has a buy rating on the stock. BioLife Solutions shares last traded at $19.60, with a volume of 61,540 shares trading hands.

BLFS has been the topic of several other research reports. Craig Hallum increased their target price on BioLife Solutions from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. TD Cowen increased their price target on shares of BioLife Solutions from $28.00 to $31.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Finally, Northland Securities boosted their price objective on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an "outperform" rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.50.

Insider Buying and Selling

In other news, EVP Aby J. Mathew sold 10,000 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $23.28, for a total value of $232,800.00. Following the sale, the executive vice president now owns 317,716 shares of the company's stock, valued at $7,396,428.48. The trade was a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Garrie Richardson sold 3,070 shares of the firm's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.12, for a total transaction of $77,118.40. Following the completion of the transaction, the executive now directly owns 114,773 shares of the company's stock, valued at approximately $2,883,097.76. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 27,471 shares of company stock valued at $656,330. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of BioLife Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of BioLife Solutions in the 3rd quarter valued at approximately $28,000. 1620 Investment Advisors Inc. acquired a new stake in BioLife Solutions in the 2nd quarter valued at about $35,000. Quest Partners LLC bought a new position in BioLife Solutions during the third quarter worth about $57,000. GAMMA Investing LLC increased its position in BioLife Solutions by 29.4% during the third quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider's stock worth $83,000 after buying an additional 748 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of BioLife Solutions in the second quarter valued at approximately $122,000. Institutional investors and hedge funds own 93.24% of the company's stock.

BioLife Solutions Price Performance

The business has a fifty day moving average of $23.94 and a two-hundred day moving average of $22.84. The firm has a market capitalization of $949.60 million, a price-to-earnings ratio of -19.31 and a beta of 1.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.81 and a current ratio of 2.78.

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.