Shares of BioLife Solutions, Inc. (NASDAQ:BLFS – Get Rating) gapped down before the market opened on Wednesday . The stock had previously closed at $24.67, but opened at $24.12. BioLife Solutions shares last traded at $23.98, with a volume of 128 shares traded.
Wall Street Analyst Weigh In
Separately, Cowen reduced 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 issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $31.25.
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BioLife Solutions Stock Performance
The company has a fifty day simple moving average of $21.91 and a 200 day simple moving average of $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 other BioLife Solutions news, COO Greef Roderick De sold 9,158 shares of BioLife Solutions stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $15.79, for a total transaction of $144,604.82. Following the transaction, the chief operating officer now directly owns 124,458 shares of the company's stock, valued at approximately $1,965,191.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through
this link. In other news, CRO Marcus Schulz sold 4,600 shares of the business's stock in a transaction dated 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 sale was disclosed in a document filed 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 dated Tuesday, July 12th. The shares were sold at an average price of $15.79, for a total value of $144,604.82. Following the completion of the transaction, the chief operating officer now directly 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 valued at $313,764. 3.30% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in BLFS. BlackRock Inc. raised its stake in BioLife Solutions by 1.6% during the 1st quarter. BlackRock Inc. now owns 3,712,680 shares of the medical equipment provider's stock worth $84,390,000 after buying an additional 57,623 shares during the period. Vanguard Group Inc. increased its holdings in BioLife Solutions by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 2,201,602 shares of the medical equipment provider's stock worth $50,043,000 after purchasing an additional 54,344 shares in the last quarter. Millennium Management LLC increased its holdings in BioLife Solutions by 45.3% during the 2nd quarter. Millennium Management LLC now owns 1,560,137 shares of the medical equipment provider's stock worth $21,545,000 after purchasing an additional 486,631 shares in the last quarter. Marshall Wace LLP increased its holdings in BioLife Solutions by 4.2% during the 4th quarter. Marshall Wace LLP now owns 1,346,746 shares of the medical equipment provider's stock worth $50,193,000 after purchasing an additional 54,502 shares in the last quarter. Finally, State Street Corp increased its holdings in BioLife Solutions by 26.1% during the 2nd quarter. State Street Corp now owns 1,270,364 shares of the medical equipment provider's stock worth $17,544,000 after purchasing an additional 263,021 shares in the last quarter. 86.69% of the stock is owned by institutional investors and hedge funds.
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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