BioLife Solutions, Inc. (NASDAQ:BLFS) EVP Sells $239,000.00 in Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction that occurred 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 in the company, valued at approximately $7,593,412.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

BioLife Solutions Trading Up 0.2 %

BioLife Solutions stock opened at $25.77 on Monday. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. BioLife Solutions, Inc. has a 12 month low of $8.92 and a 12 month high of $26.73. The company’s fifty day simple moving average is $24.17 and its 200-day simple moving average is $20.97. The stock has a market cap of $1.19 billion, a P/E ratio of -18.15 and a beta of 1.87.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.08. The company had revenue of $28.33 million for the quarter, compared to analyst estimates of $23.80 million. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. As a group, sell-side analysts forecast that BioLife Solutions, Inc. will post -0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On BioLife Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its position in BioLife Solutions by 1,038.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock worth $39,031,000 after acquiring an additional 2,191,002 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in BioLife Solutions in the second quarter worth $8,592,000. Vanguard Group Inc. increased its position in BioLife Solutions by 11.5% during the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock worth $53,208,000 after buying an additional 296,727 shares during the last quarter. Granahan Investment Management LLC raised its holdings in BioLife Solutions by 22.8% during the fourth quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock valued at $21,006,000 after buying an additional 240,001 shares in the last quarter. Finally, Raymond James & Associates acquired a new stake in shares of BioLife Solutions in the second quarter worth about $2,876,000. Institutional investors own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BLFS. Craig Hallum upped their price target on BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a report on Monday, August 12th. Northland Securities boosted their price objective on BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, TD Cowen raised their price objective on BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat, BioLife Solutions presently has an average rating of “Moderate Buy” and an average target price of $26.20.

BioLife Solutions Company Profile

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.