Shares of BioLife Solutions, Inc. (NASDAQ:BLFS – Get Rating) were down 2.7% during trading on Friday . The company traded as low as $25.68 and last traded at $25.97. Approximately 3,826 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 263,292 shares. The stock had previously closed at $26.70.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on BLFS. B. Riley decreased their price objective on BioLife Solutions from $48.00 to $34.00 in a research report on Tuesday, May 17th. Cowen decreased their price objective on BioLife Solutions to $29.00 in a research report on Monday, August 15th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, BioLife Solutions presently has an average rating of "Moderate Buy" and an average price target of $31.25.
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BioLife Solutions Price Performance
The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.54 and a current ratio of 3.55. The company has a 50-day moving average of $20.70 and a 200-day moving average of $18.37. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -11.83 and a beta of 1.91.
Insiders Place Their Bets
In other BioLife Solutions news, CRO Marcus Schulz sold 4,600 shares of the company's stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $20.03, for a total transaction of $92,138.00. Following the completion of the transaction, the executive now owns 36,218 shares of the company's stock, valued at approximately $725,446.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other BioLife Solutions news, COO Greef Roderick De sold 9,158 shares of the company's stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $15.79, for a total transaction of $144,604.82. Following the completion of the transaction, the chief operating officer now owns 124,458 shares of the company's stock, valued at approximately $1,965,191.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Marcus Schulz sold 4,600 shares of the company's stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $20.03, for a total value of $92,138.00. Following the transaction, the executive now directly owns 36,218 shares of the company's stock, valued at approximately $725,446.54. The disclosure for this sale can be found here. Insiders sold a total of 18,401 shares of company stock valued at $313,764 in the last quarter. 3.30% of the stock is currently owned by insiders.
Institutional Investors Weigh In On BioLife Solutions
Several large investors have recently made changes to their positions in the stock. Captrust Financial Advisors boosted its holdings in shares of BioLife Solutions by 714.2% in the 2nd quarter. Captrust Financial Advisors now owns 3,949 shares of the medical equipment provider's stock valued at $55,000 after buying an additional 3,464 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of BioLife Solutions by 17.5% in the 2nd quarter. Legal & General Group Plc now owns 78,876 shares of the medical equipment provider's stock valued at $1,089,000 after buying an additional 11,762 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of BioLife Solutions by 7.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 78,871 shares of the medical equipment provider's stock valued at $1,089,000 after buying an additional 5,414 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of BioLife Solutions by 1.1% in the 2nd quarter. Macquarie Group Ltd. now owns 73,437 shares of the medical equipment provider's stock valued at $1,014,000 after buying an additional 766 shares during the last quarter. Finally, First Republic Investment Management Inc. boosted its holdings in shares of BioLife Solutions by 7.6% in the 2nd quarter. First Republic Investment Management Inc. now owns 24,084 shares of the medical equipment provider's stock valued at $333,000 after buying an additional 1,705 shares during the last quarter. Institutional investors and hedge funds own 86.69% of the company's stock.
BioLife Solutions Company Profile
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BioLife Solutions, Inc develops, manufactures, and supplies bioproduction tools and services for the cell and gene therapy industry in the United States, Canada, 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.
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