BioLife Solutions (NASDAQ:BLFS) Trading Down 7.7% – Here’s Why

BioLife Solutions, Inc. (NASDAQ:BLFS)’s share price 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 trading, a decline of 72% from the average session volume of 352,675 shares. The stock had previously closed at $25.96.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BLFS. KeyCorp increased their price target on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. StockNews.com upgraded BioLife Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday, March 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. Benchmark restated a “buy” rating and set a $30.00 price objective on shares of BioLife Solutions in a report on Thursday, December 19th. Finally, HC Wainwright boosted their target price on shares of BioLife Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, BioLife Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $29.86.

BioLife Solutions Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. The firm has a market capitalization of $1.10 billion, a PE ratio of -21.80 and a beta of 2.04. The business’s 50 day moving average is $26.34 and its two-hundred day moving average is $25.57.

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. The firm had revenue of $22.71 million for the quarter, compared to the consensus estimate of $21.73 million. BioLife Solutions had a negative net margin of 38.98% and a negative return on equity of 6.61%. During the same period last year, the firm posted ($0.21) earnings per share. As a group, research analysts anticipate that BioLife Solutions, Inc. will post -0.3 EPS for the current year.

Insider Activity at BioLife Solutions

In other news, CMO Todd Berard sold 1,577 shares of the company’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 $39,425.00. Following the sale, the chief marketing officer now directly owns 104,961 shares of the company’s stock, valued at $2,624,025. This represents a 1.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Troy Wichterman sold 987 shares of BioLife Solutions stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $27.02, for a total transaction of $26,668.74. Following the transaction, the chief financial officer now directly owns 121,779 shares of the company’s stock, valued at approximately $3,290,468.58. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,117 shares of company stock worth $534,442 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 buying an additional 8,258 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of BioLife Solutions in the fourth quarter worth $31,000. Point72 Asset Management L.P. bought a new position in shares of BioLife Solutions during the fourth quarter valued at $11,113,000. ProShare Advisors LLC purchased a new position in shares of BioLife Solutions in the 4th quarter worth about $282,000. Finally, Millennium Management LLC raised its position in shares of BioLife Solutions by 49.1% in the 4th 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 during the last quarter. Institutional investors own 93.24% of the company’s stock.

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.