BioLife Solutions, Inc. (NASDAQ:BLFS – Get Free Report) shares gapped up before the market opened on Monday after an insider bought additional shares in the company. The stock had previously closed at $12.14, but opened at $12.85. BioLife Solutions shares last traded at $12.40, with a volume of 32,530 shares changing hands.
Specifically, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $22.14, for a total transaction of $221,400.00. Following the completion of the transaction, the executive vice president now directly owns 273,118 shares of the company’s stock, valued at approximately $6,046,832.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other BioLife Solutions news, EVP Aby J. Mathew sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $22.14, for a total value of $221,400.00. Following the completion of the sale, the executive vice president now directly owns 273,118 shares of the company’s stock, valued at approximately $6,046,832.52. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Casdin Partners Master Fund, L acquired 58,465 shares of the stock in a transaction on Wednesday, August 9th. The stock was bought at an average cost of $13.20 per share, with a total value of $771,738.00. Following the completion of the transaction, the insider now owns 7,630,000 shares in the company, valued at $100,716,000. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 113,438 shares of company stock worth $1,970,448 and have sold 71,643 shares worth $1,544,442. 2.70% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on BLFS shares. TD Cowen reduced their price target on shares of BioLife Solutions from $29.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, August 9th. StockNews.com raised shares of BioLife Solutions to a “sell” rating in a research report on Thursday, July 20th. Stephens dropped their target price on shares of BioLife Solutions from $29.00 to $22.00 in a research report on Wednesday, August 9th. Lake Street Capital dropped their price objective on shares of BioLife Solutions from $34.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Finally, Craig Hallum dropped their price objective on shares of BioLife Solutions from $29.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.33.
BioLife Solutions Price Performance
The stock’s fifty day moving average is $20.72 and its 200-day moving average is $21.16. The stock has a market capitalization of $547.97 million, a PE ratio of -6.53 and a beta of 1.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.04 and a quick ratio of 2.05.
Institutional Trading of BioLife Solutions
A number of hedge funds have recently added to or reduced their stakes in BLFS. HighTower Advisors LLC boosted its holdings in BioLife Solutions by 144.0% during the first quarter. HighTower Advisors LLC now owns 13,313 shares of the medical equipment provider’s stock worth $302,000 after buying an additional 7,856 shares in the last quarter. Citigroup Inc. lifted its position in shares of BioLife Solutions by 38.6% during the first quarter. Citigroup Inc. now owns 24,924 shares of the medical equipment provider’s stock worth $567,000 after purchasing an additional 6,937 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of BioLife Solutions by 55.4% during the first quarter. MetLife Investment Management LLC now owns 6,195 shares of the medical equipment provider’s stock worth $141,000 after acquiring an additional 2,209 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of BioLife Solutions by 16.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,851 shares of the medical equipment provider’s stock worth $588,000 after buying an additional 3,703 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in BioLife Solutions by 1.6% during the 1st quarter. BlackRock Inc. now owns 3,712,680 shares of the medical equipment provider’s stock worth $84,390,000 after acquiring an additional 57,623 shares in the last quarter. 89.16% of the stock is owned by hedge funds and other institutional investors.
BioLife Solutions Company Profile
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.
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