BioLife Solutions (NASDAQ:BLFS) Stock Price Down 5.9% – Here’s What Happened

BioLife Solutions, Inc. (NASDAQ:BLFS)’s stock price traded down 5.9% during mid-day trading on Thursday . The company traded as low as $22.68 and last traded at $22.68. 64,729 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 374,020 shares. The stock had previously closed at $24.11.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. HC Wainwright assumed coverage on BioLife Solutions in a research report on Monday, September 30th. They issued a “buy” rating and a $29.00 target price for the company. Craig Hallum raised their target price on BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday. TD Cowen raised their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Northland Securities lifted their price target on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat, BioLife Solutions has an average rating of “Moderate Buy” and an average price target of $27.83.

BioLife Solutions Stock Down 5.0 %

The company has a market cap of $1.06 billion, a P/E ratio of -22.75 and a beta of 1.88. The company has a 50 day moving average of $24.11 and a 200-day moving average of $22.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.86 and a quick ratio of 1.81.

Insider Activity at BioLife Solutions

In related news, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total transaction of $239,000.00. Following the completion of the sale, the executive vice president now owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other BioLife Solutions news, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total transaction of $239,000.00. Following the completion of the sale, the executive vice president now owns 317,716 shares of the company’s stock, valued at $7,593,412.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the sale, the executive now directly owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,044 shares of company stock valued at $645,105. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

Several hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in shares of BioLife Solutions by 249.5% in the 1st quarter. BNP Paribas Financial Markets now owns 53,515 shares of the medical equipment provider’s stock valued at $993,000 after acquiring an additional 38,201 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of BioLife Solutions by 4.7% in the 1st quarter. Texas Permanent School Fund Corp now owns 31,145 shares of the medical equipment provider’s stock valued at $578,000 after acquiring an additional 1,384 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of BioLife Solutions in the 1st quarter valued at about $335,000. Swiss National Bank lifted its stake in shares of BioLife Solutions by 3.6% in the 1st quarter. Swiss National Bank now owns 71,100 shares of the medical equipment provider’s stock valued at $1,319,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of BioLife Solutions by 1.4% in the 1st quarter. Sei Investments Co. now owns 60,191 shares of the medical equipment provider’s stock valued at $1,117,000 after acquiring an additional 839 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

About BioLife Solutions

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.