BioLife Solutions, Inc. (NASDAQ:BLFS) Sees Significant Growth in Short Interest

BioLife Solutions, Inc. (NASDAQ:BLFS) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 3,200,000 shares, a growth of 5.6% from the March 15th total of 3,030,000 shares. Based on an average trading volume of 412,500 shares, the days-to-cover ratio is currently 7.8 days.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group started coverage on shares of BioLife Solutions in a report on Thursday, April 4th. They issued a “buy” rating and a $22.00 target price for the company. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

BioLife Solutions Stock Performance

Shares of BioLife Solutions stock traded up $0.43 during trading hours on Tuesday, hitting $16.11. The company’s stock had a trading volume of 238,544 shares, compared to its average volume of 401,253. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.86 and a quick ratio of 1.83. The business has a 50 day moving average price of $17.65 and a two-hundred day moving average price of $15.30. BioLife Solutions has a 12-month low of $8.92 and a 12-month high of $24.50.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, February 29th. The medical equipment provider reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.02. BioLife Solutions had a negative return on equity of 13.36% and a negative net margin of 46.37%. The company had revenue of $32.73 million for the quarter, compared to the consensus estimate of $32.70 million. As a group, equities analysts forecast that BioLife Solutions will post -0.6 EPS for the current fiscal year.

Insider Transactions at BioLife Solutions

In related news, insider Sarah Aebersold sold 4,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $17.65, for a total transaction of $70,600.00. Following the sale, the insider now directly owns 65,843 shares of the company’s stock, valued at approximately $1,162,128.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Amy Duross sold 6,135 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $16.86, for a total transaction of $103,436.10. Following the completion of the sale, the director now directly owns 34,508 shares in the company, valued at $581,804.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sarah Aebersold sold 4,000 shares of BioLife Solutions stock in a transaction on Monday, April 1st. The stock was sold at an average price of $17.65, for a total transaction of $70,600.00. Following the transaction, the insider now owns 65,843 shares in the company, valued at approximately $1,162,128.95. The disclosure for this sale can be found here. Insiders sold a total of 32,419 shares of company stock valued at $550,058 in the last quarter. 2.70% of the stock is owned by insiders.

Hedge Funds Weigh In On BioLife Solutions

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in BioLife Solutions by 10.7% in the 3rd quarter. BlackRock Inc. now owns 5,416,115 shares of the medical equipment provider’s stock valued at $123,217,000 after acquiring an additional 522,912 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of BioLife Solutions by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 2,571,608 shares of the medical equipment provider’s stock worth $41,789,000 after buying an additional 30,763 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in BioLife Solutions by 1,038.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock valued at $39,031,000 after buying an additional 2,191,002 shares during the last quarter. Millennium Management LLC raised its holdings in shares of BioLife Solutions by 45.3% during the 2nd quarter. Millennium Management LLC now owns 1,560,137 shares of the medical equipment provider’s stock worth $21,545,000 after acquiring an additional 486,631 shares in the last quarter. Finally, Granahan Investment Management LLC grew its holdings 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 valued at $21,006,000 after purchasing an additional 240,001 shares in the last quarter. Hedge funds and other 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.