BioLife Solutions (NASDAQ:BLFS) Trading Down 7.7% – Time to Sell?

BioLife Solutions, Inc. (NASDAQ:BLFS) traded down 7.7% during trading on Monday . The stock traded as low as $24.72 and last traded at $23.96. 99,469 shares changed 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.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BLFS shares. HC Wainwright raised their target price on shares of BioLife Solutions from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. KeyCorp raised 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. StockNews.com raised shares of BioLife Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. Northland Securities raised their price target on BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Finally, Benchmark reiterated a “buy” rating and set a $30.00 price objective on shares of BioLife Solutions in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, BioLife Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $29.86.

BioLife Solutions Stock Down 9.7 %

The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $26.34 and a 200 day simple moving average of $25.57. The company has a market cap of $1.10 billion, a P/E ratio of -21.80 and a beta of 2.04.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.32. BioLife Solutions had a negative net margin of 38.98% and a negative return on equity of 6.61%. The company had revenue of $22.71 million for the quarter, compared to the consensus estimate of $21.73 million. During the same quarter last year, the firm posted ($0.21) EPS. On average, equities analysts anticipate that BioLife Solutions, Inc. will post -0.3 EPS for the current year.

Insider Transactions at BioLife Solutions

In other BioLife Solutions news, CFO Troy Wichterman sold 4,151 shares of the company’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 completion of the sale, the chief financial officer now owns 116,809 shares in the company, valued at $2,920,225. This represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sarah Aebersold sold 5,632 shares of BioLife Solutions stock in a transaction on Friday, March 14th. The shares were sold at an average price of $24.96, for a total value of $140,574.72. Following the completion of the transaction, the insider now owns 45,860 shares in the company, valued at $1,144,665.60. This represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,117 shares of company stock valued at $534,442. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BioLife Solutions

A number of institutional investors have recently added to or reduced their stakes in BLFS. Invesco Ltd. lifted its position in shares of BioLife Solutions by 1.1% during the fourth quarter. Invesco Ltd. now owns 3,239,469 shares of the medical equipment provider’s stock valued at $84,097,000 after buying an additional 36,176 shares during the last quarter. Fred Alger Management LLC lifted its position in BioLife Solutions by 1.0% during the fourth quarter. Fred Alger Management LLC now owns 1,594,221 shares of the medical equipment provider’s stock valued at $41,386,000 after acquiring an additional 16,274 shares during the last quarter. State Street Corp grew its holdings 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 purchasing an additional 95,788 shares during the last quarter. Millennium Management LLC increased its position in shares of BioLife Solutions by 49.1% during the fourth quarter. Millennium Management LLC now owns 1,145,347 shares of the medical equipment provider’s stock worth $29,733,000 after purchasing an additional 377,111 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of BioLife Solutions by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 887,008 shares of the medical equipment provider’s stock valued at $23,028,000 after purchasing an additional 40,416 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.