BioLife Solutions (NASDAQ:BLFS) Shares Pass Above 200-Day Moving Average - Should You Sell?

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.93 and traded as high as $22.42. BioLife Solutions shares last traded at $22.03, with a volume of 161,519 shares trading hands.

Wall Street Analysts Forecast Growth

BLFS has been the topic of a number of analyst reports. TD Cowen upped their target price on shares of BioLife Solutions from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, July 17th. Craig Hallum increased their price objective on BioLife Solutions from $23.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday, August 12th. HC Wainwright began coverage on BioLife Solutions in a research report on Monday, September 30th. They set a "buy" rating and a $29.00 target price for the company. Finally, Northland Securities upped their target price on BioLife Solutions from $26.00 to $28.00 and gave the stock an "outperform" rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat.com, BioLife Solutions currently has an average rating of "Moderate Buy" and a consensus target price of $26.67.

BioLife Solutions Price Performance

The company has a market capitalization of $1.01 billion, a PE ratio of -15.51 and a beta of 1.88. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. The firm's 50-day moving average is $24.23 and its 200-day moving average is $21.96.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.08. The firm had revenue of $28.33 million during the quarter, compared to analyst estimates of $23.80 million. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. Equities analysts predict that BioLife Solutions, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Transactions at BioLife Solutions

In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the company's stock in a transaction dated 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 sale, the executive now directly owns 114,773 shares in the company, valued at $2,883,097.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Aby J. Mathew sold 10,000 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now owns 317,716 shares in the company, valued at approximately $7,396,428.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction on Monday, September 16th. The stock was 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 in the company, valued at approximately $2,883,097.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,089 shares of company stock worth $599,847. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BioLife Solutions

A number of hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets increased its stake in shares of BioLife Solutions by 249.5% during the first quarter. BNP Paribas Financial Markets now owns 53,515 shares of the medical equipment provider's stock valued at $993,000 after buying an additional 38,201 shares during the period. Sequoia Financial Advisors LLC bought a new position in BioLife Solutions in the 2nd quarter worth $466,000. Allspring Global Investments Holdings LLC lifted its position in shares of BioLife Solutions by 161,879.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 131,203 shares of the medical equipment provider's stock worth $2,434,000 after purchasing an additional 131,122 shares during the period. Vanguard Group Inc. boosted its stake in shares of BioLife Solutions by 11.5% during the 1st quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider's stock valued at $53,208,000 after purchasing an additional 296,727 shares in the last quarter. Finally, Isthmus Partners LLC increased its position in shares of BioLife Solutions by 34.4% during the second quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider's stock valued at $35,000 after buying an additional 42,265 shares during the period. Hedge funds and other institutional investors 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.