Insider Selling: BioLife Solutions, Inc. (NASDAQ:BLFS) CEO Sells 46,896 Shares of Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) CEO Greef Roderick De sold 46,896 shares of BioLife Solutions stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $23.43, for a total value of $1,098,773.28. Following the completion of the transaction, the chief executive officer now owns 414,958 shares in the company, valued at approximately $9,722,465.94. This represents a 10.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

BioLife Solutions Price Performance

BioLife Solutions stock opened at $26.61 on Friday. The stock’s 50 day moving average is $25.99 and its 200 day moving average is $24.29. BioLife Solutions, Inc. has a one year low of $14.50 and a one year high of $28.88. The firm has a market cap of $1.23 billion, a P/E ratio of -25.10 and a beta of 1.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BLFS. Stifel Financial Corp raised its stake in BioLife Solutions by 5.4% during the third quarter. Stifel Financial Corp now owns 12,988 shares of the medical equipment provider’s stock worth $325,000 after buying an additional 670 shares during the last quarter. GAMMA Investing LLC grew its holdings in BioLife Solutions by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after acquiring an additional 748 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of BioLife Solutions by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock worth $296,000 after acquiring an additional 753 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in shares of BioLife Solutions in the 3rd quarter valued at about $28,000. Finally, Curi RMB Capital LLC boosted its position in shares of BioLife Solutions by 0.5% during the 3rd quarter. Curi RMB Capital LLC now owns 421,933 shares of the medical equipment provider’s stock valued at $10,565,000 after purchasing an additional 2,283 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. TD Cowen lifted their price target on shares of BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Benchmark reiterated a “buy” rating and set a $30.00 price target on shares of BioLife Solutions in a report on Thursday, December 19th. KeyCorp raised their price objective on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Craig Hallum upped their target price on BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Northland Securities lifted their price target on BioLife Solutions from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.43.

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.