BioLife Solutions, Inc. (NASDAQ:BLFS) Sees Significant Increase in Short Interest

BioLife Solutions, Inc. (NASDAQ:BLFS) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 3,310,000 shares, an increase of 5.8% from the December 31st total of 3,130,000 shares. Based on an average daily volume of 379,000 shares, the days-to-cover ratio is currently 8.7 days.

Insider Buying and Selling at BioLife Solutions

In other news, CFO Troy Wichterman sold 987 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $27.02, for a total transaction of $26,668.74. Following the completion of the sale, the chief financial officer now owns 121,779 shares in the company, valued at approximately $3,290,468.58. The trade was a 0.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Aby J. Mathew sold 17,604 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $20.05, for a total value of $352,960.20. Following the sale, the executive vice president now owns 284,442 shares of the company’s stock, valued at $5,703,062.10. The trade was a 5.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,278 shares of company stock worth $1,199,987. 2.20% of the stock is owned by company insiders.

Institutional Trading of BioLife Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mark Sheptoff Financial Planning LLC acquired a new position in shares of BioLife Solutions in the third quarter valued at approximately $28,000. Quest Partners LLC acquired a new position in shares of BioLife Solutions in the third quarter valued at approximately $57,000. GAMMA Investing LLC grew its position in shares of BioLife Solutions by 29.4% in the third quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock valued at $83,000 after purchasing an additional 748 shares during the last quarter. Summit Global Investments acquired a new stake in BioLife Solutions during the third quarter worth approximately $228,000. Finally, Marshall Wace LLP acquired a new stake in BioLife Solutions during the second quarter worth approximately $229,000. Institutional investors own 93.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Northland Securities upped their price target on BioLife Solutions from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. HC Wainwright decreased their price target on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, November 18th. TD Cowen raised their target price on BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. KeyCorp upped their target price on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Craig Hallum increased their price objective on BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.43.

BioLife Solutions Stock Performance

Shares of BioLife Solutions stock opened at $26.62 on Tuesday. BioLife Solutions has a one year low of $14.50 and a one year high of $29.55. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -25.11 and a beta of 1.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. The stock’s 50-day moving average is $26.84 and its 200-day moving average is $25.11.

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.