Garrie Richardson Sells 3,070 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) CRO Garrie Richardson sold 3,070 shares of the firm’s 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 completion of the sale, the executive now directly owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

BioLife Solutions Stock Performance

BLFS stock opened at $25.72 on Friday. The firm has a 50 day moving average of $24.07 and a two-hundred day moving average of $20.86. BioLife Solutions, Inc. has a 12 month low of $8.92 and a 12 month high of $26.73. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -18.11 and a beta of 1.87. 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 (NASDAQ:BLFS) last issued its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $28.33 million during the quarter, compared to analysts’ expectations of $23.80 million. BioLife Solutions had a negative net margin of 59.88% and a negative return on equity of 10.75%. As a group, equities analysts anticipate that BioLife Solutions, Inc. will post -0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BLFS has been the subject of several research analyst reports. Craig Hallum increased their price objective on BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. TD Cowen upped their price target on shares of BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Northland Securities lifted their price objective 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 five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BioLife Solutions has an average rating of “Moderate Buy” and an average target price of $26.20.

Institutional Trading of BioLife Solutions

Several large investors have recently made changes to their positions in BLFS. Millrace Asset Group Inc. lifted its holdings in BioLife Solutions by 116.0% in the 4th quarter. Millrace Asset Group Inc. now owns 105,643 shares of the medical equipment provider’s stock worth $1,717,000 after purchasing an additional 56,726 shares during the last quarter. Granahan Investment Management LLC lifted its stake in shares of BioLife Solutions by 22.8% in the fourth quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock worth $21,006,000 after buying an additional 240,001 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of BioLife Solutions by 249.5% during the 1st quarter. BNP Paribas Financial Markets now owns 53,515 shares of the medical equipment provider’s stock worth $993,000 after buying an additional 38,201 shares during the period. Sequoia Financial Advisors LLC acquired a new position in BioLife Solutions in the 2nd quarter valued at $466,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in BioLife Solutions by 161,879.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 131,203 shares of the medical equipment provider’s stock worth $2,434,000 after acquiring an additional 131,122 shares during the period. 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.