BioLife Solutions (NASDAQ:BLFS) Trading 4.2% Higher

BioLife Solutions, Inc. (NASDAQ:BLFS) rose 4.2% during trading on Wednesday . The stock traded as high as $18.02 and last traded at $17.73. Approximately 125,793 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 406,008 shares. The stock had previously closed at $17.02.

Analysts Set New Price Targets

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

BioLife Solutions Trading Up 1.0 %

The stock has a market capitalization of $778.71 million, a PE ratio of -11.31 and a beta of 1.67. The company’s 50 day moving average price is $17.39 and its two-hundred day moving average price is $15.41. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.86 and a quick ratio of 1.83.

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

Insider Activity

In other BioLife Solutions news, Director Amy Duross sold 6,135 shares of the stock in a transaction dated 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 transaction, the director now owns 34,508 shares of the company’s stock, valued at $581,804.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other BioLife Solutions news, CEO Greef Roderick De sold 7,249 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $16.60, for a total value of $120,333.40. Following the completion of the transaction, the chief executive officer now owns 461,854 shares of the company’s stock, valued at approximately $7,666,776.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy Duross sold 6,135 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $16.86, for a total value of $103,436.10. Following the sale, the director now owns 34,508 shares in the company, valued at approximately $581,804.88. The disclosure for this sale can be found here. Insiders have sold a total of 33,996 shares of company stock valued at $562,145 in the last quarter. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its stake in shares of 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 worth $39,031,000 after purchasing an additional 2,191,002 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in BioLife Solutions during the third quarter worth approximately $9,335,000. Granahan Investment Management LLC increased its stake in 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 during the last quarter. Roubaix Capital LLC acquired a new stake in BioLife Solutions during the third quarter worth approximately $2,029,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 valued at $2,434,000 after buying an additional 131,122 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.