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BioLife Solutions (NASDAQ:BLFS) Shares Gap Down to $23.31

Financial News Live · Sep 6, 2022 13:11

BioLife Solutions, Inc. (NASDAQ:BLFS – Get Rating) shares gapped down prior to trading on Tuesday . The stock had previously closed at $23.31, but opened at $22.73. BioLife Solutions shares last traded at $22.83, with a volume of 194 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. B. Riley cut their target price on BioLife Solutions from $48.00 to $34.00 in a research report on Tuesday, May 17th. Cowen cut their target price on BioLife Solutions to $29.00 in a research report on Monday, August 15th. Maxim Group dropped their price target on BioLife Solutions from $60.00 to $30.00 in a research report on Thursday, May 12th. Finally, Cowen dropped their price target on BioLife Solutions from $50.00 to $32.00 in a research report on Tuesday, May 10th. One analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to MarketBeat.com, BioLife Solutions has an average rating of "Moderate Buy" and a consensus target price of $31.25.

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BioLife Solutions Trading Up 1.9 %

The company has a current ratio of 3.55, a quick ratio of 2.54 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $19.48 and a two-hundred day moving average of $18.35.

Insider Buying and Selling at BioLife Solutions

In other BioLife Solutions news, COO Greef Roderick De sold 9,158 shares of the business's stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $15.79, for a total value of $144,604.82. Following the transaction, the chief operating officer now owns 124,458 shares in the company, valued at $1,965,191.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CRO Marcus Schulz sold 4,600 shares of the company's stock in a transaction dated 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 sale, the executive now owns 36,218 shares in the company, valued at approximately $725,446.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Greef Roderick De sold 9,158 shares of the company's stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $15.79, for a total value of $144,604.82. Following the sale, the chief operating officer now owns 124,458 shares of the company's stock, valued at approximately $1,965,191.82. The disclosure for this sale can be found here. Insiders have sold 18,401 shares of company stock worth $313,764 over the last 90 days. 3.30% of the stock is currently owned by corporate insiders.

Institutional Trading of BioLife Solutions

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of 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 acquiring an additional 57,623 shares in the last quarter. Vanguard Group Inc. boosted its stake 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 valued at $50,043,000 after purchasing an additional 54,344 shares during the period. Millennium Management LLC boosted its stake 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 valued at $21,545,000 after purchasing an additional 486,631 shares during the period. Marshall Wace LLP boosted its stake 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 valued at $50,193,000 after purchasing an additional 54,502 shares during the period. Finally, State Street Corp boosted its stake 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 valued at $17,544,000 after purchasing an additional 263,021 shares during the period. Institutional investors 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.