BioLife Solutions (NASDAQ:BLFS) Shares Gap Down After Analyst Downgrade

Posted by Defense World Staff on Mar 18th, 2023

BioLife Solutions, Inc. (NASDAQ:BLFS – Get Rating) shares gapped down before the market opened on Friday after Stephens lowered their price target on the stock from $31.00 to $27.00. The stock had previously closed at $19.98, but opened at $18.91. Stephens currently has an overweight rating on the stock. BioLife Solutions shares last traded at $20.59, with a volume of 86,624 shares changing hands.

Several other equities analysts have also issued reports on the company. StockNews.com began coverage on BioLife Solutions in a research note on Thursday. They issued a “sell” rating on the stock. Oppenheimer reiterated an “outperform” rating and set a $28.00 target price on shares of BioLife Solutions in a research report on Monday, March 6th.

Insider Buying and Selling at BioLife Solutions

In other news, CRO Marcus Schulz sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $25.02, for a total transaction of $25,020.00. Following the transaction, the executive now directly owns 43,437 shares of the company’s stock, valued at $1,086,793.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CMO Todd Berard sold 9,000 shares of the company’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $25.13, for a total value of $226,170.00. Following the sale, the chief marketing officer now owns 119,265 shares in the company, valued at approximately $2,997,129.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Marcus Schulz sold 1,000 shares of the company’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $25.02, for a total transaction of $25,020.00. Following the completion of the sale, the executive now owns 43,437 shares in the company, valued at approximately $1,086,793.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,454 shares of company stock valued at $1,359,106. Company insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State of Wisconsin Investment Board raised its holdings in shares of BioLife Solutions by 16.7% in the 4th quarter. State of Wisconsin Investment Board now owns 43,684 shares of the medical equipment provider’s stock worth $795,000 after acquiring an additional 6,252 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of BioLife Solutions by 2.8% in the 4th quarter. Legal & General Group Plc now owns 83,012 shares of the medical equipment provider’s stock worth $1,511,000 after acquiring an additional 2,282 shares during the last quarter. Meros Investment Management LP raised its holdings in shares of BioLife Solutions by 51.3% in the 4th quarter. Meros Investment Management LP now owns 216,119 shares of the medical equipment provider’s stock worth $3,933,000 after acquiring an additional 73,261 shares during the last quarter. Osterweis Capital Management Inc. raised its holdings in shares of BioLife Solutions by 14.7% in the 4th quarter. Osterweis Capital Management Inc. now owns 115,135 shares of the medical equipment provider’s stock worth $2,095,000 after acquiring an additional 14,780 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of BioLife Solutions in the 4th quarter worth about $224,000. Institutional investors and hedge funds own 89.82% of the company’s stock.

BioLife Solutions Stock Up 7.7 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.76 and a current ratio of 3.68. The company has a market cap of $920.32 million, a price-to-earnings ratio of -6.60 and a beta of 1.86. The stock’s fifty day moving average is $23.12 and its two-hundred day moving average is $21.98.

BioLife Solutions Company Profile

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BioLife Solutions, Inc engages in the development, manufacture and marketing of bio preservation tools for cells and tissues. Its product offerings include proprietary hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs, generic blood stem cell freezing and cell thawing media products and custom product formulation and custom packaging services.