Insider Selling: BioLife Solutions, Inc. (NASDAQ:BLFS) CRO Sells 3,070 Shares of Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the completion of the transaction, the executive now directly owns 114,773 shares in the company, valued at $2,883,097.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

BioLife Solutions Stock Up 8.4 %

Shares of BLFS stock opened at $25.72 on Friday. BioLife Solutions, Inc. has a one year low of $8.92 and a one year high of $26.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.86 and a quick ratio of 1.81. The stock has a fifty day moving average price of $24.07 and a 200 day moving average price of $20.86. The stock has a market cap of $1.18 billion, a P/E ratio of -18.11 and a beta of 1.87.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings data 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 company had revenue of $28.33 million during the quarter, compared to analysts’ expectations of $23.80 million. Analysts predict that BioLife Solutions, Inc. will post -0.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLFS. Goldman Sachs Group Inc. raised its holdings in shares of BioLife Solutions by 1,038.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock worth $39,031,000 after buying an additional 2,191,002 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in BioLife Solutions in the second quarter valued at $8,592,000. Vanguard Group Inc. raised its stake in BioLife Solutions by 11.5% during the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock worth $53,208,000 after acquiring an additional 296,727 shares in the last quarter. Granahan Investment Management LLC raised its stake in BioLife Solutions by 22.8% during the fourth quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock worth $21,006,000 after acquiring an additional 240,001 shares in the last quarter. Finally, Raymond James & Associates acquired a new stake in shares of BioLife Solutions in the 2nd quarter valued at $2,876,000. Institutional investors own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.