BioLife Solutions (NASDAQ:BLFS) Trading Down 7.7% - Here's Why

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report)'s share price fell 7.7% during trading on Monday . The company traded as low as $24.72 and last traded at $23.96. 99,469 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 352,675 shares. The stock had previously closed at $25.96.

Analyst Ratings Changes

BLFS has been the topic of several recent analyst reports. StockNews.com downgraded shares of BioLife Solutions from a "hold" rating to a "sell" rating in a research note on Monday. Northland Securities upped their price target on BioLife Solutions from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Wednesday, January 8th. HC Wainwright raised their price objective on BioLife Solutions from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Benchmark reiterated a "buy" rating and issued a $30.00 target price on shares of BioLife Solutions in a report on Thursday, December 19th. Finally, KeyCorp increased their price target on shares of BioLife Solutions from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $29.86.

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BioLife Solutions Price Performance

The stock's 50 day simple moving average is $26.00 and its 200-day simple moving average is $25.51. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -21.17 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 quarterly earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.32. The company had revenue of $22.71 million during the quarter, compared to analysts' expectations 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 previous year, the firm earned ($0.21) earnings per share. On average, analysts expect that BioLife Solutions, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at BioLife Solutions

In other BioLife Solutions news, insider Sarah Aebersold sold 5,771 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $22.66, for a total transaction of $130,770.86. Following the completion of the transaction, the insider now owns 80,094 shares of the company's stock, valued at $1,814,930.04. The trade was a 6.72 % 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, CFO Troy Wichterman sold 987 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $27.02, for a total value of $26,668.74. Following the completion of the sale, the chief financial officer now directly owns 121,779 shares in the company, valued at approximately $3,290,468.58. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,066 shares of company stock worth $1,688,947 over the last 90 days. Insiders own 2.20% of the company's stock.

Institutional Trading of BioLife Solutions

Several hedge funds have recently added to or reduced their stakes in BLFS. State Street Corp increased its position in BioLife Solutions by 7.3% in the 3rd quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider's stock worth $35,364,000 after buying an additional 95,788 shares during the period. Geode Capital Management LLC raised its stake in BioLife Solutions by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider's stock valued at $21,107,000 after purchasing an additional 18,473 shares during the last quarter. Barclays PLC boosted its holdings in BioLife Solutions by 20.1% in the 3rd quarter. Barclays PLC now owns 64,423 shares of the medical equipment provider's stock valued at $1,613,000 after purchasing an additional 10,803 shares during the period. The Manufacturers Life Insurance Company grew its position in BioLife Solutions by 40.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,463 shares of the medical equipment provider's stock worth $487,000 after purchasing an additional 5,638 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of BioLife Solutions during the 4th quarter worth about $638,000. Institutional investors own 93.24% of the company's stock.

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.