Aby J. Mathew Sells 10,000 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total transaction of $239,000.00. Following the sale, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

BioLife Solutions Price Performance

NASDAQ BLFS opened at $25.77 on Friday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -18.15 and a beta of 1.87. 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’s fifty day moving average price is $24.17 and its 200 day moving average price is $20.94. BioLife Solutions, Inc. has a 1 year low of $8.92 and a 1 year high of $26.73.

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

Hedge Funds Weigh In On BioLife Solutions

A number of institutional investors have recently bought and sold shares of the business. Millrace Asset Group Inc. increased its stake in shares of BioLife Solutions by 116.0% in the fourth quarter. Millrace Asset Group Inc. now owns 105,643 shares of the medical equipment provider’s stock worth $1,717,000 after acquiring an additional 56,726 shares during the period. Granahan Investment Management LLC grew its position in BioLife Solutions by 22.8% during the 4th quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock worth $21,006,000 after purchasing an additional 240,001 shares during the period. BNP Paribas Financial Markets grew its position in BioLife Solutions by 249.5% during the 1st quarter. BNP Paribas Financial Markets now owns 53,515 shares of the medical equipment provider’s stock worth $993,000 after purchasing an additional 38,201 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of BioLife Solutions during the 2nd quarter valued at about $466,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of BioLife Solutions by 161,879.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 131,203 shares of the medical equipment provider’s stock valued at $2,434,000 after buying an additional 131,122 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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