Insider Selling: BioLife Solutions, Inc. (NASDAQ:BLFS) EVP Sells $239,946.74 in Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) EVP Aby J. Mathew sold 10,589 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $22.66, for a total value of $239,946.74. Following the completion of the transaction, the executive vice president now directly owns 309,576 shares of the company’s stock, valued at approximately $7,014,992.16. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

BioLife Solutions Trading Down 7.0 %

Shares of BLFS opened at $20.88 on Friday. The company’s fifty day moving average is $25.87 and its 200 day moving average is $25.50. BioLife Solutions, Inc. has a fifty-two week low of $14.84 and a fifty-two week high of $29.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78. The stock has a market capitalization of $981.36 million, a PE ratio of -19.70 and a beta of 2.04.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.32. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. The company had revenue of $22.71 million during the quarter, compared to analyst estimates of $21.73 million. During the same quarter last year, the business posted ($0.21) earnings per share. Sell-side analysts expect that BioLife Solutions, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

BLFS has been the topic of a number of research analyst reports. KeyCorp boosted their price target on BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Northland Securities upped their target price on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. HC Wainwright raised their target price on shares of BioLife Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Benchmark reiterated a “buy” rating and issued a $30.00 price target on shares of BioLife Solutions in a research note on Thursday, December 19th. Finally, StockNews.com downgraded shares of BioLife Solutions from a “hold” rating to a “sell” rating in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.17.

Hedge Funds Weigh In On BioLife Solutions

Large investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new stake in shares of BioLife Solutions during the fourth quarter worth $26,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in BioLife Solutions during the 4th quarter valued at about $31,000. 1620 Investment Advisors Inc. boosted its position in BioLife Solutions by 41.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider’s stock valued at $60,000 after buying an additional 675 shares during the period. Smartleaf Asset Management LLC grew its stake in BioLife Solutions by 27.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,469 shares of the medical equipment provider’s stock worth $117,000 after acquiring an additional 950 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of BioLife Solutions during the fourth quarter worth approximately $171,000. 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.