BioLife Solutions (NASDAQ:BLFS) Stock Price Down 11.1%


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BioLife Solutions, Inc. (NASDAQ:BLFS) shares dropped 11.1% on Tuesday . The company traded as low as $31.18 and last traded at $31.18. Approximately 8,086 shares changed hands during trading, a decline of 97% from the average daily volume of 294,998 shares. The stock had previously closed at $35.07.

A number of analysts have commented on BLFS shares. Zacks Investment Research upgraded shares of BioLife Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, January 6th. KeyCorp lifted their price objective on BioLife Solutions from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, March 29th. B. Riley upped their target price on BioLife Solutions from $35.50 to $61.00 in a report on Wednesday, March 24th. Maxim Group lifted their price target on BioLife Solutions from $40.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, March 23rd. Finally, Stephens raised their price objective on shares of BioLife Solutions from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 23rd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $45.10.

The company has a market cap of $1.03 billion, a price-to-earnings ratio of -44.74, a price-to-earnings-growth ratio of 50.41 and a beta of 1.55. The business has a 50-day simple moving average of $35.67 and a 200-day simple moving average of $37.15.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Sunday, March 21st. The medical equipment provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). BioLife Solutions had a return on equity of 0.53% and a net margin of 12.67%. The firm had revenue of $14.73 million for the quarter, compared to analyst estimates of $13.43 million. On average, equities research analysts anticipate that BioLife Solutions, Inc. will post 0.01 EPS for the current fiscal year.

In other news, VP Aby J. Mathew sold 18,483 shares of the stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $40.02, for a total value of $739,689.66. Following the completion of the sale, the vice president now directly owns 198,905 shares of the company’s stock, valued at $7,960,178.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Walter Villiger sold 8,538 shares of the firm’s stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $40.65, for a total transaction of $347,069.70. The disclosure for this sale can be found here. Insiders sold 273,460 shares of company stock valued at $10,270,039 in the last 90 days. 22.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of BLFS. BlackRock Inc. grew its holdings in shares of BioLife Solutions by 10.9% during the fourth quarter. BlackRock Inc. now owns 1,232,671 shares of the medical equipment provider’s stock worth $49,172,000 after buying an additional 121,334 shares during the last quarter. Geneva Capital Management LLC acquired a new position in shares of BioLife Solutions in the first quarter valued at approximately $37,191,000. Tower House Partners LLP purchased a new stake in shares of BioLife Solutions during the fourth quarter worth approximately $18,872,000. Jennison Associates LLC acquired a new stake in shares of BioLife Solutions during the fourth quarter worth $17,934,000. Finally, Northern Trust Corp grew its position in BioLife Solutions by 0.4% in the 4th quarter. Northern Trust Corp now owns 260,536 shares of the medical equipment provider’s stock valued at $10,392,000 after buying an additional 1,121 shares during the last quarter. Institutional investors own 67.66% of the company’s stock.

BioLife Solutions Company Profile (NASDAQ:BLFS)

BioLife Solutions, Inc develops, manufactures, and supplies bioproduction tools for the cell and gene therapy industry in North America, 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.

See Also: Accumulation/Distribution

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