BioLife Solutions (NASDAQ:BLFS) Stock Price Up 6%

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

Analyst Upgrades and Downgrades

BLFS has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on BioLife Solutions in a research note on Thursday, April 4th. They issued a “buy” rating and a $22.00 target price for the company. StockNews.com raised BioLife Solutions to a “sell” rating in a report on Friday, May 10th. Benchmark raised 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. Finally, TD Cowen increased their price target on BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.83.

BioLife Solutions Trading Up 4.9 %

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.77 and a current ratio of 2.89. The business has a fifty day simple moving average of $21.13 and a 200 day simple moving average of $18.80. The company has a market cap of $1.05 billion, a P/E ratio of -16.09 and a beta of 1.85.

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. The business had revenue of $31.73 million for the quarter, compared to analysts’ expectations of $29.30 million. BioLife Solutions had a negative return on equity of 12.89% and a negative net margin of 45.84%. During the same period in the prior year, the firm earned ($0.27) EPS. Analysts anticipate that BioLife Solutions, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Transactions at BioLife Solutions

In other news, insider Sarah Aebersold sold 3,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $21.03, for a total transaction of $63,090.00. Following the sale, the insider now directly owns 61,683 shares in the company, valued at approximately $1,297,193.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Sarah Aebersold sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $21.03, for a total value of $63,090.00. Following the sale, the insider now directly owns 61,683 shares in the company, valued at approximately $1,297,193.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Todd Berard sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief marketing officer now owns 108,894 shares in the company, valued at $2,197,480.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,215 shares of company stock worth $313,281. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of BioLife Solutions

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its position in shares of BioLife Solutions by 167.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 1,020 shares during the period. Conestoga Capital Advisors LLC increased its position in shares of BioLife Solutions by 4.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 64,847 shares of the medical equipment provider’s stock valued at $1,054,000 after purchasing an additional 2,585 shares during the period. Cerity Partners LLC acquired a new position in shares of BioLife Solutions during the 4th quarter valued at $438,000. Louisiana State Employees Retirement System acquired a new position in shares of BioLife Solutions during the 4th quarter valued at $283,000. Finally, GAMMA Investing LLC acquired a new position in shares of BioLife Solutions during the 4th quarter valued at $41,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.