Insider Selling: BioLife Solutions, Inc. (NASDAQ:BLFS) EVP Sells $15,922.45 in Stock

Posted by Defense World Staff on Jul 2nd, 2023

BioLife Solutions, Inc. (NASDAQ:BLFS – Free Report) EVP Aby J. Mathew sold 695 shares of BioLife Solutions stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $22.91, for a total transaction of $15,922.45. Following the completion of the sale, the executive vice president now directly owns 271,919 shares in the company, valued at approximately $6,229,664.29. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

BioLife Solutions Stock Performance

NASDAQ:BLFS opened at $22.10 on Friday. The company’s 50-day moving average price is $21.45 and its 200-day moving average price is $21.44. The company has a current ratio of 2.81, a quick ratio of 1.93 and a debt-to-equity ratio of 0.07. The company has a market cap of $961.13 million, a P/E ratio of -6.48 and a beta of 1.80. BioLife Solutions, Inc. has a twelve month low of $13.67 and a twelve month high of $26.96.

BioLife Solutions (NASDAQ:BLFS – Free Report) last posted its quarterly earnings results on Wednesday, May 10th. The medical equipment provider reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.17). The business had revenue of $37.70 million during the quarter, compared to analysts’ expectations of $43.28 million. BioLife Solutions had a negative return on equity of 8.20% and a negative net margin of 89.08%. On average, sell-side analysts forecast that BioLife Solutions, Inc. will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioLife Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in BioLife Solutions by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,437 shares of the medical equipment provider’s stock worth $249,000 after buying an additional 571 shares during the last quarter. Macquarie Group Ltd. boosted its stake in BioLife Solutions by 1.1% during the second quarter. Macquarie Group Ltd. now owns 73,437 shares of the medical equipment provider’s stock worth $1,014,000 after buying an additional 766 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its stake in BioLife Solutions by 5.6% during the first quarter. NorthCrest Asset Manangement LLC now owns 15,200 shares of the medical equipment provider’s stock worth $331,000 after buying an additional 800 shares during the last quarter. Jane Street Group LLC grew its stake in shares of BioLife Solutions by 6.9% in the 1st quarter. Jane Street Group LLC now owns 13,377 shares of the medical equipment provider’s stock valued at $304,000 after buying an additional 858 shares during the period. Finally, Penbrook Management LLC grew its stake in shares of BioLife Solutions by 2.3% in the 1st quarter. Penbrook Management LLC now owns 41,500 shares of the medical equipment provider’s stock valued at $903,000 after buying an additional 920 shares during the period. Institutional investors and hedge funds own 89.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BLFS shares. StockNews.com raised shares of BioLife Solutions to a “sell” rating in a research note on Wednesday, June 21st. Oppenheimer reiterated an “outperform” rating and set a $28.00 price objective on shares of BioLife Solutions in a research note on Monday, March 6th. Finally, Stephens cut their price objective on BioLife Solutions from $31.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, March 17th.

About BioLife Solutions

(Free Report)

BioLife Solutions, Inc develops, manufactures, and supplies bioproduction tools and services for the cell and gene therapy industry in the United States, Canada, 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.