BioLife Solutions (NASDAQ:BLFS) Shares Up 4.2%

BioLife Solutions, Inc. (NASDAQ:BLFS)’s share price rose 4.2% during trading on Wednesday . The company traded as high as $18.02 and last traded at $17.73. Approximately 125,793 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 406,008 shares. The stock had previously closed at $17.02.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group started coverage on BioLife Solutions in a research report on Thursday, April 4th. They issued a “buy” rating and a $22.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, BioLife Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

BioLife Solutions Trading Up 4.0 %

The stock has a market capitalization of $794.11 million, a P/E ratio of -11.43 and a beta of 1.67. The stock has a 50-day moving average price of $17.35 and a two-hundred day moving average price of $15.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.83 and a current ratio of 2.86.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings results on Thursday, February 29th. The medical equipment provider reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.02. BioLife Solutions had a negative return on equity of 13.36% and a negative net margin of 46.37%. The company had revenue of $32.73 million for the quarter, compared to analyst estimates of $32.70 million. On average, research analysts forecast that BioLife Solutions, Inc. will post -0.6 EPS for the current fiscal year.

Insider Activity at BioLife Solutions

In related news, CMO Todd Berard sold 10,000 shares of BioLife Solutions stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $15.67, for a total transaction of $156,700.00. Following the sale, the chief marketing officer now directly owns 129,644 shares in the company, valued at $2,031,521.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Sarah Aebersold sold 4,000 shares of BioLife Solutions stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $17.65, for a total transaction of $70,600.00. Following the sale, the insider now directly owns 65,843 shares in the company, valued at $1,162,128.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Todd Berard sold 10,000 shares of BioLife Solutions stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $15.67, for a total value of $156,700.00. Following the sale, the chief marketing officer now owns 129,644 shares in the company, valued at $2,031,521.48. The disclosure for this sale can be found here. Insiders have sold 33,996 shares of company stock worth $562,145 over the last ninety days. 2.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BioLife Solutions

Hedge funds have recently added to or reduced their stakes in the stock. Huntington National Bank bought a new stake in BioLife Solutions in the third quarter worth $1,697,000. Barclays PLC boosted its holdings in BioLife Solutions by 205.3% in the third quarter. Barclays PLC now owns 56,968 shares of the medical equipment provider’s stock worth $787,000 after acquiring an additional 38,311 shares in the last quarter. Millrace Asset Group Inc. purchased a new position in shares of BioLife Solutions in the third quarter worth $676,000. Roubaix Capital LLC purchased a new position in shares of BioLife Solutions in the third quarter worth $2,029,000. Finally, Meros Investment Management LP raised its stake in shares of BioLife Solutions by 14.7% in the third quarter. Meros Investment Management LP now owns 372,203 shares of the medical equipment provider’s stock worth $5,140,000 after purchasing an additional 47,724 shares during the last quarter. 93.24% of the stock is owned by institutional investors.

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.