BioLife Solutions (NASDAQ:BLFS) Trading Down 2.6% Following Insider Selling

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) shares were down 2.6% on Friday following insider selling activity. The company traded as low as $24.42 and last traded at $24.42. Approximately 142,491 shares were traded during trading, a decline of 59% from the average daily volume of 349,003 shares. The stock had previously closed at $25.06.

Specifically, CFO Troy Wichterman sold 4,151 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total transaction of $103,775.00. Following the transaction, the chief financial officer now directly owns 116,809 shares in the company, valued at $2,920,225. The trade was a 3.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Aby J. Mathew sold 1,597 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total value of $39,925.00. Following the transaction, the executive vice president now owns 260,601 shares in the company, valued at approximately $6,515,025. This trade represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other BioLife Solutions news, insider Sarah Aebersold sold 1,091 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total transaction of $27,275.00. Following the sale, the insider now owns 58,816 shares in the company, valued at approximately $1,470,400. The trade was a 1.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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Analyst Upgrades and Downgrades

Several research firms have weighed in on BLFS. KeyCorp boosted their price target on BioLife Solutions from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Northland Securities boosted their price target on BioLife Solutions from $28.00 to $31.00 and gave the company an "outperform" rating in a research note on Wednesday, January 8th. Benchmark reiterated a "buy" rating and set a $30.00 price target on shares of BioLife Solutions in a research note on Thursday, December 19th. Finally, HC Wainwright boosted their price target on BioLife Solutions from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, BioLife Solutions has a consensus rating of "Moderate Buy" and an average price target of $29.86.

BioLife Solutions Stock Down 2.3 %

The business has a fifty day simple moving average of $26.53 and a 200 day simple moving average of $25.49. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -23.90 and a beta of 2.04. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last announced its earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.32. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. The business had revenue of $22.71 million during the quarter, compared to analysts' expectations of $21.73 million. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. As a group, equities analysts forecast that BioLife Solutions, Inc. will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On BioLife Solutions

A number of large investors have recently made changes to their positions in the stock. Invesco Ltd. grew its position in shares of BioLife Solutions by 1.1% in the fourth quarter. Invesco Ltd. now owns 3,239,469 shares of the medical equipment provider's stock valued at $84,097,000 after purchasing an additional 36,176 shares in the last quarter. Fred Alger Management LLC grew its position in BioLife Solutions by 1.0% in the fourth quarter. Fred Alger Management LLC now owns 1,594,221 shares of the medical equipment provider's stock worth $41,386,000 after acquiring an additional 16,274 shares during the period. State Street Corp grew its position in BioLife Solutions by 7.3% in the third quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider's stock worth $35,364,000 after acquiring an additional 95,788 shares during the period. Millennium Management LLC grew its position in BioLife Solutions by 49.1% in the fourth quarter. Millennium Management LLC now owns 1,145,347 shares of the medical equipment provider's stock worth $29,733,000 after acquiring an additional 377,111 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in BioLife Solutions by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 887,008 shares of the medical equipment provider's stock worth $23,028,000 after acquiring an additional 40,416 shares during the period. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

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.