Short Interest in BioLife Solutions, Inc. (NASDAQ:BLFS) Drops By 23.4%

BioLife Solutions, Inc. (NASDAQ:BLFS) was the recipient of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 2,680,000 shares, a decline of 23.4% from the October 31st total of 3,500,000 shares. Based on an average daily trading volume, of 384,000 shares, the days-to-cover ratio is presently 7.0 days.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BLFS. HC Wainwright reduced their price objective on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Craig Hallum lifted their price objective on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. TD Cowen raised their price objective on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Northland Securities upped their target price on 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.50.

BioLife Solutions Trading Up 1.1 %

NASDAQ:BLFS traded up $0.31 during trading hours on Friday, reaching $27.47. 200,092 shares of the company were exchanged, compared to its average volume of 388,973. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. BioLife Solutions has a 52-week low of $11.91 and a 52-week high of $28.88. The stock has a 50 day simple moving average of $24.19 and a 200 day simple moving average of $23.19. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -25.92 and a beta of 1.88.

Insider Activity

In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the company’s 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 of the company’s stock, valued at $2,883,097.76. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Aby J. Mathew sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the completion of the sale, the executive vice president now directly owns 317,716 shares in the company, valued at approximately $7,593,412.40. The trade was a 3.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,313 shares of company stock valued at $1,572,899. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BioLife Solutions

Several large investors have recently made changes to their positions in the company. Stifel Financial Corp boosted its stake in BioLife Solutions by 5.4% during the 3rd quarter. Stifel Financial Corp now owns 12,988 shares of the medical equipment provider’s stock valued at $325,000 after purchasing an additional 670 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in BioLife Solutions by 4.0% during the second quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the medical equipment provider’s stock valued at $392,000 after buying an additional 700 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 worth $83,000 after buying an additional 748 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of BioLife Solutions by 5.8% during the second quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock valued at $296,000 after acquiring an additional 753 shares during the period. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in BioLife Solutions in the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

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.