BioLife Solutions (NASDAQ:BLFS) Shares Gap Down – Here’s Why

BioLife Solutions, Inc. (NASDAQ:BLFS)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $23.12, but opened at $21.80. BioLife Solutions shares last traded at $21.3860, with a volume of 138,223 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of BioLife Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BioLife Solutions in a research report on Monday, April 20th. Finally, Zacks Research upgraded shares of BioLife Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.00.

BioLife Solutions Stock Performance

The stock’s 50-day moving average price is $20.36 and its 200-day moving average price is $23.34. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -197.43 and a beta of 1.97.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings results on Thursday, May 7th. The medical equipment provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. BioLife Solutions had a negative net margin of 4.50% and a positive return on equity of 1.71%. The company had revenue of $27.50 million during the quarter, compared to the consensus estimate of $25.66 million. Analysts anticipate that BioLife Solutions, Inc. will post 0.09 earnings per share for the current year.

Insider Activity

In related news, insider Karen A. Foster sold 96,923 shares of BioLife Solutions stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $20.15, for a total transaction of $1,952,998.45. Following the completion of the transaction, the insider directly owned 113,742 shares in the company, valued at $2,291,901.30. The trade was a 46.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 99,641 shares of company stock worth $2,009,000. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new position in shares of BioLife Solutions during the 4th quarter worth approximately $30,000. Kemnay Advisory Services Inc. acquired a new position in shares of BioLife Solutions during the 4th quarter worth approximately $35,000. Hantz Financial Services Inc. raised its position in shares of BioLife Solutions by 54.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,877 shares of the medical equipment provider’s stock worth $48,000 after purchasing an additional 659 shares during the last quarter. Quarry LP raised its position in shares of BioLife Solutions by 50.9% during the 3rd quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock worth $54,000 after purchasing an additional 713 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of BioLife Solutions by 82.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,425 shares of the medical equipment provider’s stock worth $113,000 after purchasing an additional 1,994 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

About BioLife Solutions

BioLife Solutions (NASDAQ:BLFS) specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife’s product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company’s flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.