BioLife Solutions (NASDAQ:BLFS) Shares Down 5.9% – Should You Sell?

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) fell 5.9% during mid-day trading on Thursday . The company traded as low as $22.68 and last traded at $22.68. 64,729 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 374,020 shares. The stock had previously closed at $24.11.

Wall Street Analysts Forecast Growth

BLFS has been the topic of several research analyst reports. Craig Hallum upped their price objective on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen boosted their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday. HC Wainwright began coverage on BioLife Solutions in a research report on Monday, September 30th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, Northland Securities upped their target price 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 six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.83.

BioLife Solutions Price Performance

The company has a 50-day moving average price of $24.00 and a 200-day moving average price of $22.75. The company has a market capitalization of $975.12 million, a price-to-earnings ratio of -19.83 and a beta of 1.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.81 and a current ratio of 2.78.

Insiders Place Their Bets

In other BioLife Solutions news, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $23.28, for a total value of $232,800.00. Following the completion of the sale, the executive vice president now directly owns 317,716 shares in the company, valued at $7,396,428.48. This represents a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the transaction, the executive now owns 114,773 shares in the company, valued at $2,883,097.76. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,471 shares of company stock worth $656,330. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its stake in shares of BioLife Solutions by 249.5% in the 1st quarter. BNP Paribas Financial Markets now owns 53,515 shares of the medical equipment provider’s stock valued at $993,000 after purchasing an additional 38,201 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of BioLife Solutions in the second quarter valued at approximately $466,000. Vanguard Group Inc. raised its stake in shares of BioLife Solutions by 11.5% during the 1st quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock worth $53,208,000 after purchasing an additional 296,727 shares in the last quarter. Isthmus Partners LLC grew its stake in BioLife Solutions by 34.4% in the 2nd quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 42,265 shares during the last quarter. Finally, Mutual of America Capital Management LLC bought a new stake in BioLife Solutions in the 2nd quarter valued at $8,592,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.