BioLife Solutions (NASDAQ:BLFS) Trading 6% Higher

BioLife Solutions, Inc. (NASDAQ:BLFS) shares traded up 6% on Tuesday . The stock traded as high as $23.00 and last traded at $22.98. 41,300 shares were traded during mid-day trading, a decline of 90% from the average session volume of 393,618 shares. The stock had previously closed at $21.68.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Benchmark upgraded BioLife Solutions from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a report on Monday, May 13th. TD Cowen boosted their price objective on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. StockNews.com raised shares of BioLife Solutions to a “sell” rating in a research note on Friday, May 10th. Finally, Jefferies Financial Group assumed coverage on shares of BioLife Solutions in a research note on Thursday, April 4th. They set a “buy” rating and a $22.00 price objective for the company. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, BioLife Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $23.83.

BioLife Solutions Price Performance

The business’s 50-day moving average is $21.13 and its two-hundred day moving average is $18.87. The company has a current ratio of 2.89, a quick ratio of 1.77 and a debt-to-equity ratio of 0.05.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings results on Thursday, May 9th. The medical equipment provider reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.06. BioLife Solutions had a negative net margin of 45.84% and a negative return on equity of 12.89%. The firm had revenue of $31.73 million during the quarter, compared to analysts’ expectations of $29.30 million. During the same period in the prior year, the company earned ($0.27) EPS. As a group, sell-side analysts expect that BioLife Solutions, Inc. will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In other BioLife Solutions news, insider Sarah Aebersold sold 3,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $21.03, for a total value of $63,090.00. Following the completion of the transaction, the insider now directly owns 61,683 shares of the company’s stock, valued at approximately $1,297,193.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other BioLife Solutions news, CMO Todd Berard sold 10,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $20.18, for a total value of $201,800.00. Following the completion of the transaction, the chief marketing officer now directly owns 108,894 shares of the company’s stock, valued at approximately $2,197,480.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sarah Aebersold sold 3,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $21.03, for a total transaction of $63,090.00. Following the completion of the transaction, the insider now directly owns 61,683 shares of the company’s stock, valued at $1,297,193.49. The disclosure for this sale can be found here. In the last three months, insiders sold 15,215 shares of company stock valued at $313,281. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

Institutional investors have recently modified their holdings of the stock. Millrace Asset Group Inc. raised its stake in shares of BioLife Solutions by 116.0% in the 4th quarter. Millrace Asset Group Inc. now owns 105,643 shares of the medical equipment provider’s stock valued at $1,717,000 after purchasing an additional 56,726 shares in the last quarter. Granahan Investment Management LLC raised its stake in shares of BioLife Solutions by 22.8% in the 4th quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock valued at $21,006,000 after purchasing an additional 240,001 shares in the last quarter. Roubaix Capital LLC raised its stake in shares of BioLife Solutions by 90.8% in the 4th quarter. Roubaix Capital LLC now owns 280,337 shares of the medical equipment provider’s stock valued at $4,555,000 after purchasing an additional 133,439 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of BioLife Solutions by 249.5% in the 1st quarter. BNP Paribas Financial Markets now owns 53,515 shares of the medical equipment provider’s stock valued at $993,000 after purchasing an additional 38,201 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake 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 purchasing an additional 131,122 shares in the last quarter. 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.