BioLife Solutions (NASDAQ:BLFS) Trading Down 2%

BioLife Solutions, Inc. (NASDAQ:BLFS)’s share price dropped 2% during trading on Tuesday . The company traded as low as $24.90 and last traded at $24.95. Approximately 66,256 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 380,431 shares. The stock had previously closed at $25.46.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BLFS. TD Cowen boosted their target price on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Craig Hallum boosted their price objective on shares of BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Northland Securities raised their target price on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.20.

BioLife Solutions Stock Down 7.0 %

The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $23.80 and its 200 day moving average price is $20.77. The firm has a market cap of $1.09 billion, a P/E ratio of -16.89 and a beta of 1.87.

BioLife Solutions (NASDAQ:BLFS) last posted its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. BioLife Solutions had a negative net margin of 59.88% and a negative return on equity of 10.75%. The firm had revenue of $28.33 million during the quarter, compared to analyst estimates of $23.80 million. As a group, research analysts expect that BioLife Solutions, Inc. will post -0.36 earnings per share for the current year.

Insider Buying and Selling

In other BioLife Solutions news, insider Sarah Aebersold sold 3,000 shares of BioLife Solutions stock in a transaction on Monday, July 1st. The stock was sold at an average price of $21.03, for a total transaction of $63,090.00. Following the sale, the insider now owns 61,683 shares of the company’s stock, valued at approximately $1,297,193.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

A number of institutional investors have recently made changes to their positions in BLFS. 1620 Investment Advisors Inc. acquired a new position in shares of BioLife Solutions during the second quarter valued at approximately $35,000. Register Financial Advisors LLC acquired a new position in shares of BioLife Solutions during the 1st quarter valued at $96,000. Canada Pension Plan Investment Board acquired a new position in shares of BioLife Solutions during the 2nd quarter valued at $122,000. Arizona State Retirement System bought a new stake in shares of BioLife Solutions in the 2nd quarter worth $217,000. Finally, Marshall Wace LLP acquired a new stake in shares of BioLife Solutions in the second quarter valued at $229,000. 93.24% of the stock is owned by institutional investors and hedge funds.

BioLife Solutions Company Profile

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.