BioLife Solutions, Inc. (NASDAQ:BLFS) Short Interest Update

BioLife Solutions, Inc. (NASDAQ:BLFS) was the target of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 2,680,000 shares, a decrease of 23.4% from the October 31st total of 3,500,000 shares. Based on an average daily volume of 384,000 shares, the short-interest ratio is presently 7.0 days.

Insider Buying and Selling at BioLife Solutions

In related news, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction that occurred 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 sale, the executive now owns 114,773 shares in the company, valued at $2,883,097.76. This represents a 2.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Aby J. Mathew sold 17,604 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $20.05, for a total value of $352,960.20. Following the transaction, the executive vice president now directly owns 284,442 shares of the company’s stock, valued at approximately $5,703,062.10. This trade represents a 5.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,313 shares of company stock valued at $1,572,899 in the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its position in BioLife Solutions by 20.1% during the 3rd quarter. Barclays PLC now owns 64,423 shares of the medical equipment provider’s stock worth $1,613,000 after purchasing an additional 10,803 shares during the period. Geode Capital Management LLC grew its position in BioLife Solutions by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider’s stock worth $21,107,000 after purchasing an additional 18,473 shares during the period. State Street Corp grew its position in BioLife Solutions by 7.3% during the 3rd quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock worth $35,364,000 after purchasing an additional 95,788 shares during the period. Stifel Financial Corp grew its position in BioLife Solutions by 5.4% during the 3rd quarter. Stifel Financial Corp now owns 12,988 shares of the medical equipment provider’s stock worth $325,000 after purchasing an additional 670 shares during the period. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in BioLife Solutions during the 3rd quarter worth about $28,000. 93.24% of the stock is owned by institutional investors and hedge funds.

BioLife Solutions Trading Up 1.1 %

NASDAQ BLFS traded up $0.31 during trading hours on Friday, hitting $27.47. 200,092 shares of the company were exchanged, compared to its average volume of 597,600. The company has a quick ratio of 1.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average price of $24.23 and a 200 day moving average price of $23.24. BioLife Solutions has a 52 week low of $11.91 and a 52 week high of $28.88. The stock has a market cap of $1.27 billion, a PE ratio of -25.92 and a beta of 1.88.

Analyst Ratings Changes

A number of analysts have commented on the company. TD Cowen lifted their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. HC Wainwright lowered their target price on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Craig Hallum boosted their price objective on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Northland Securities lifted their target price on BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.50.

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.