BioLife Solutions (NASDAQ:BLFS) Shares Gap Down on Analyst Downgrade

BioLife Solutions, Inc. (NASDAQ:BLFS)’s share price gapped down prior to trading on Monday after HC Wainwright lowered their price target on the stock from $29.00 to $27.00. The stock had previously closed at $21.02, but opened at $20.30. HC Wainwright currently has a buy rating on the stock. BioLife Solutions shares last traded at $19.60, with a volume of 61,540 shares changing hands.

Other analysts have also issued research reports about the company. Northland Securities upped their price objective on BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. TD Cowen boosted their price objective on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Craig Hallum upped their target price on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $27.50.

Insiders Place Their Bets

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 transaction, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. The trade was a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction on Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the transaction, the executive now directly owns 114,773 shares of the company’s stock, valued at $2,883,097.76. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,471 shares of company stock worth $656,330. 2.20% of the stock is owned by insiders.

Institutional Trading of BioLife Solutions

Several large investors have recently modified their holdings of BLFS. Mark Sheptoff Financial Planning LLC acquired a new position in BioLife Solutions in the 3rd quarter valued at about $28,000. 1620 Investment Advisors Inc. acquired a new position in shares of BioLife Solutions in the 2nd quarter valued at $35,000. Isthmus Partners LLC grew its position in BioLife Solutions by 34.4% during the second quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 42,265 shares during the period. Quest Partners LLC purchased a new stake in shares of BioLife Solutions during the 3rd quarter worth about $57,000. Finally, GAMMA Investing LLC increased its position in shares of BioLife Solutions by 29.4% in the third quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after acquiring an additional 748 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

BioLife Solutions Trading Down 5.6 %

The stock has a market capitalization of $920.84 million, a price-to-earnings ratio of -19.83 and a beta of 1.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.81 and a current ratio of 2.78. The firm has a fifty day moving average of $24.00 and a 200-day moving average of $22.82.

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.