Short Interest in BioLife Solutions, Inc. (NASDAQ:BLFS) Declines By 23.4%

BioLife Solutions, Inc. (NASDAQ:BLFS) was the recipient of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 2,680,000 shares, a drop of 23.4% from the October 31st total of 3,500,000 shares. Based on an average daily volume of 384,000 shares, the short-interest ratio is presently 7.0 days.

Analysts Set New Price Targets

A number of research firms have commented on BLFS. TD Cowen boosted their price objective on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Northland Securities upped their price target on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. HC Wainwright lowered their price objective on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Finally, Craig Hallum upped their target price on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.50.

Insiders Place Their Bets

In related news, CRO Garrie Richardson sold 3,070 shares of the 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 owns 114,773 shares in the company, valued at $2,883,097.76. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Aby J. Mathew sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total transaction of $239,000.00. Following the completion of the transaction, the executive vice president now owns 317,716 shares in the company, valued at approximately $7,593,412.40. This trade represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,313 shares of company stock worth $1,572,899 over the last quarter. Company insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

Several institutional investors and hedge funds have recently made changes to their positions in BLFS. Barclays PLC increased its stake in shares of 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 acquiring an additional 10,803 shares during the last quarter. Geode Capital Management LLC increased its stake in BioLife Solutions by 2.2% in the third 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 in the last quarter. State Street Corp increased its stake 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 valued at $35,364,000 after purchasing an additional 95,788 shares in the last quarter. Stifel Financial Corp raised its holdings in BioLife Solutions by 5.4% in the third quarter. Stifel Financial Corp now owns 12,988 shares of the medical equipment provider’s stock worth $325,000 after purchasing an additional 670 shares during the period. Finally, Mark Sheptoff Financial Planning LLC bought a new position in shares of BioLife Solutions during the third quarter worth $28,000. Institutional investors own 93.24% of the company’s stock.

BioLife Solutions Trading Up 1.1 %

BioLife Solutions stock traded up $0.31 during trading hours on Friday, reaching $27.47. 200,092 shares of the company’s stock traded hands, compared to its average volume of 388,973. BioLife Solutions has a fifty-two week low of $11.91 and a fifty-two week high of $28.88. The firm’s 50 day moving average is $24.23 and its 200-day moving average is $23.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -25.92 and a beta of 1.88.

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.