BioLife Solutions, Inc. (NASDAQ:BLFS – Get Rating)'s share price dropped 7.7% during mid-day trading on Friday . The company traded as low as $23.94 and last traded at $23.94. Approximately 1,430 shares were traded during trading, a decline of 99% from the average daily volume of 236,049 shares. The stock had previously closed at $25.94.
Analyst Ratings Changes
Separately, Cowen dropped their price target on shares of BioLife Solutions to $29.00 in a research report on Monday, August 15th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company's stock. According to data from MarketBeat, BioLife Solutions has an average rating of "Moderate Buy" and a consensus target price of $31.25.
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BioLife Solutions Price Performance
The company has a market capitalization of $984.91 million, a P/E ratio of -10.28 and a beta of 1.91. The business's 50-day simple moving average is $21.60 and its 200 day simple moving average is $18.43. The company has a current ratio of 3.55, a quick ratio of 2.54 and a debt-to-equity ratio of 0.02.
Insiders Place Their Bets
In related news, CRO Marcus Schulz sold 4,600 shares of the business's stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $20.03, for a total value of $92,138.00. Following the sale, the executive now directly owns 36,218 shares in the company, valued at approximately $725,446.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CRO Marcus Schulz sold 4,600 shares of the business's stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $20.03, for a total value of $92,138.00. Following the sale, the executive now directly owns 36,218 shares in the company, valued at approximately $725,446.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Greef Roderick De sold 9,158 shares of the business'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 sale, the chief operating officer now owns 124,458 shares in the company, valued at $1,965,191.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,401 shares of company stock worth $313,764. 3.30% of the stock is owned by corporate insiders.
Institutional Trading of BioLife Solutions
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Public Sector Pension Investment Board raised its holdings in shares of BioLife Solutions by 1.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 56,525 shares of the medical equipment provider's stock worth $781,000 after purchasing an additional 565 shares in the last quarter. Spears Abacus Advisors LLC raised its holdings in shares of BioLife Solutions by 2.7% during the fourth quarter. Spears Abacus Advisors LLC now owns 23,143 shares of the medical equipment provider's stock valued at $863,000 after acquiring an additional 614 shares during the period. Texas Permanent School Fund raised its holdings in shares of BioLife Solutions by 3.0% during the second quarter. Texas Permanent School Fund now owns 21,901 shares of the medical equipment provider's stock valued at $302,000 after acquiring an additional 642 shares during the period. Macquarie Group Ltd. raised its holdings in shares of BioLife Solutions by 1.1% during the second quarter. Macquarie Group Ltd. now owns 73,437 shares of the medical equipment provider's stock valued at $1,014,000 after acquiring an additional 766 shares during the period. Finally, Mutual of America Capital Management LLC raised its holdings in shares of BioLife Solutions by 18.7% during the second quarter. Mutual of America Capital Management LLC now owns 5,128 shares of the medical equipment provider's stock valued at $71,000 after acquiring an additional 808 shares during the period. 86.69% of the stock is currently owned by institutional investors.
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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