BioLife Solutions (NASDAQ:BLFS) Stock Price Down 2.5%

BioLife Solutions, Inc. (NASDAQ:BLFS) dropped 2.5% during mid-day trading on Wednesday . The stock traded as low as $19.72 and last traded at $19.72. Approximately 59,668 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 399,443 shares. The stock had previously closed at $20.23.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BLFS. StockNews.com upgraded shares of BioLife Solutions to a “sell” rating in a research report on Friday, May 10th. Benchmark upgraded shares of BioLife Solutions from a “neutral” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Monday, May 13th. Finally, Jefferies Financial Group initiated coverage on shares of BioLife Solutions in a report on Thursday, April 4th. They issued a “buy” rating and a $22.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

BioLife Solutions Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 1.77. The company’s 50-day simple moving average is $20.39 and its two-hundred day simple moving average is $18.33.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings results on Thursday, May 9th. The medical equipment provider reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.06. BioLife Solutions had a negative net margin of 45.84% and a negative return on equity of 12.89%. The business had revenue of $31.73 million for the quarter, compared to the consensus estimate of $29.30 million. During the same period last year, the firm earned ($0.27) earnings per share. On average, equities analysts anticipate that BioLife Solutions, Inc. will post -0.44 EPS for the current year.

Insider Activity

In other news, CMO Todd Berard sold 10,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $20.18, for a total transaction of $201,800.00. Following the sale, the chief marketing officer now directly owns 108,894 shares in the company, valued at approximately $2,197,480.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 24,845 shares of company stock worth $447,644 in the last three months. Company insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

Several institutional investors and hedge funds have recently modified their holdings of the company. Conestoga Capital Advisors LLC raised its position in shares of BioLife Solutions by 1.0% during the 1st quarter. Conestoga Capital Advisors LLC now owns 65,477 shares of the medical equipment provider’s stock valued at $1,215,000 after purchasing an additional 630 shares during the period. Sei Investments Co. increased its holdings in 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. Nisa Investment Advisors LLC increased its holdings in BioLife Solutions by 167.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 1,020 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in BioLife Solutions by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,129 shares of the medical equipment provider’s stock valued at $281,000 after acquiring an additional 1,374 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its holdings in 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. 93.24% of the stock is currently owned by institutional investors.

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.