Aby J. Mathew Sells 10,000 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) EVP Aby J. Mathew sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the transaction, the executive vice president now directly owns 317,716 shares in the company, valued at approximately $7,593,412.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

BioLife Solutions Price Performance

BioLife Solutions stock opened at $25.77 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.86 and a quick ratio of 1.81. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -18.15 and a beta of 1.87. The firm has a 50-day moving average of $24.17 and a two-hundred day moving average of $20.94. BioLife Solutions, Inc. has a 1 year low of $8.92 and a 1 year high of $26.73.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BLFS shares. Northland Securities increased their target price 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 price objective on shares of BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Craig Hallum raised their price target on BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.20.

Hedge Funds Weigh In On BioLife Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in BioLife Solutions by 1,038.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock valued at $39,031,000 after purchasing an additional 2,191,002 shares during the period. Mutual of America Capital Management LLC bought a new position in BioLife Solutions in the second quarter worth approximately $8,592,000. Vanguard Group Inc. lifted its holdings in BioLife Solutions by 11.5% during the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock worth $53,208,000 after buying an additional 296,727 shares during the period. Granahan Investment Management LLC boosted its position in BioLife Solutions by 22.8% during 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 acquiring an additional 240,001 shares in the last quarter. Finally, Raymond James & Associates purchased a new position in shares of BioLife Solutions in the 2nd quarter valued at $2,876,000. Institutional investors own 93.24% of the company’s stock.

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.