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

BioLife Solutions, Inc. (NASDAQ:BLFS)’s share price traded down 2.6% during trading on Friday following insider selling activity. The company traded as low as $24.42 and last traded at $24.42. 142,491 shares were traded during mid-day trading, a decline of 59% from the average session 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 that occurred on Tuesday, March 11th. The shares were 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 directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Aby J. Mathew sold 1,597 shares of BioLife Solutions stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total transaction of $39,925.00. Following the transaction, the executive vice president now directly owns 260,601 shares of the company’s stock, valued at approximately $6,515,025. This trade represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, insider Sarah Aebersold sold 1,091 shares of BioLife Solutions stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total transaction of $27,275.00. Following the completion of the transaction, the insider now directly owns 58,816 shares of the company’s stock, valued at $1,470,400. The trade was a 1.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BLFS. Benchmark reissued a “buy” rating and issued a $30.00 price target on shares of BioLife Solutions in a report on Thursday, December 19th. Northland Securities boosted their price target on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. KeyCorp boosted their price target on shares of BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, HC Wainwright boosted their price target 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. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, BioLife Solutions currently has an average rating of “Moderate Buy” and an average price target of $29.86.

BioLife Solutions Price Performance

The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -23.10 and a beta of 2.04. The company has a fifty day moving average price of $26.62 and a two-hundred 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 issued its quarterly earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 earnings per share 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 firm had revenue of $22.71 million during the quarter, compared to the consensus estimate of $21.73 million. During the same period last year, the company earned ($0.21) earnings per share. On average, equities research analysts expect that BioLife Solutions, Inc. will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC purchased a new position in BioLife Solutions in the fourth quarter worth $26,000. Mark Sheptoff Financial Planning LLC purchased a new position in BioLife Solutions in the third quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in BioLife Solutions in the fourth quarter worth $31,000. Quest Partners LLC purchased a new position in BioLife Solutions in the third quarter worth $57,000. Finally, 1620 Investment Advisors Inc. increased its position in shares of BioLife Solutions by 41.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider’s stock valued at $60,000 after buying an additional 675 shares in the last quarter. Hedge funds and other 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.