BioLife Solutions (NASDAQ:BLFS) Stock Price Passes Above 200 Day Moving Average – What’s Next?

BioLife Solutions, Inc. (NASDAQ:BLFS)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $21.93 and traded as high as $22.42. BioLife Solutions shares last traded at $22.03, with a volume of 161,519 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Northland Securities increased their price objective on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. TD Cowen increased their target price on BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Craig Hallum lifted their price target on BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, HC Wainwright started coverage on BioLife Solutions in a research note on Monday, September 30th. They set a “buy” rating and a $29.00 price objective for the company. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, BioLife Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $26.67.

BioLife Solutions Trading Up 1.9 %

The company’s 50 day simple moving average is $24.23 and its two-hundred day simple moving average is $21.96. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -15.51 and a beta of 1.88.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.08. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. The firm had revenue of $28.33 million during the quarter, compared to analyst estimates of $23.80 million. As a group, research analysts anticipate that BioLife Solutions, Inc. will post -0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total transaction of $239,000.00. Following the transaction, the executive vice president now owns 317,716 shares in the company, valued at $7,593,412.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CRO Garrie Richardson sold 3,070 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the completion of the transaction, the executive now owns 114,773 shares in the company, valued at $2,883,097.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Aby J. Mathew sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the sale, the executive vice president now owns 317,716 shares in the company, valued at approximately $7,593,412.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,089 shares of company stock valued at $599,847. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new stake in BioLife Solutions in the second quarter valued at approximately $35,000. Isthmus Partners LLC lifted its stake in BioLife Solutions by 34.4% during the 2nd quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 42,265 shares during the period. GAMMA Investing LLC boosted its holdings in shares of BioLife Solutions by 29.4% in the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock valued at $83,000 after acquiring an additional 748 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of BioLife Solutions in the second quarter worth $122,000. Finally, Arizona State Retirement System acquired a new stake in shares of BioLife Solutions in the second quarter worth $217,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

BioLife Solutions Company Profile

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.