BioLife Solutions (NASDAQ:BLFS) Shares Down 2.6% on Insider Selling

BioLife Solutions, Inc. (NASDAQ:BLFS) was 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 changed hands during mid-day 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 BioLife Solutions 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 completion of the transaction, the chief financial officer now owns 116,809 shares of the company’s stock, valued at $2,920,225. The trade was a 3.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Aby J. Mathew sold 1,597 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total transaction of $39,925.00. Following the completion of the transaction, the executive vice president now directly owns 260,601 shares of the company’s stock, valued at $6,515,025. The trade was a 0.61 % decrease in their position. The disclosure for this sale can be found here. In related news, insider Sarah Aebersold sold 1,091 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total value of $27,275.00. Following the completion of the transaction, the insider now owns 58,816 shares of the company’s stock, valued at approximately $1,470,400. The trade was a 1.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

BLFS has been the subject of several analyst reports. Benchmark reissued a “buy” rating and issued a $30.00 target price on shares of BioLife Solutions in a research note on Thursday, December 19th. KeyCorp lifted their price target on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, December 13th. HC Wainwright lifted their price target on BioLife Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, Northland Securities boosted their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.86.

BioLife Solutions Stock Performance

The company has a market cap of $1.15 billion, a P/E ratio of -23.10 and a beta of 2.04. The company has a 50 day moving average price of $26.62 and a 200-day moving average price of $25.50. The company has a quick ratio of 1.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.03.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company 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 business posted ($0.21) earnings per share. Equities analysts expect that BioLife Solutions, Inc. will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in BioLife Solutions by 13.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,686 shares of the medical equipment provider’s stock worth $1,835,000 after acquiring an additional 8,258 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in BioLife Solutions in the 4th quarter worth about $31,000. Point72 Asset Management L.P. acquired a new position in BioLife Solutions in the 4th quarter worth about $11,113,000. ProShare Advisors LLC acquired a new position in shares of BioLife Solutions during the 4th quarter valued at about $282,000. Finally, Millennium Management LLC increased its holdings in shares of BioLife Solutions by 49.1% during the 4th quarter. Millennium Management LLC now owns 1,145,347 shares of the medical equipment provider’s stock valued at $29,733,000 after acquiring an additional 377,111 shares during the last quarter. 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.