BioLife Solutions (NASDAQ:BLFS) Stock Rating Lowered by Wall Street Zen

BioLife Solutions (NASDAQ:BLFS) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

BLFS has been the subject of a number of other reports. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of BioLife Solutions in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioLife Solutions in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of BioLife Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, BioLife Solutions has an average rating of “Moderate Buy” and a consensus target price of $31.20.

BioLife Solutions Stock Performance

BioLife Solutions stock opened at $26.54 on Friday. The stock has a market cap of $1.28 billion, a PE ratio of -221.15 and a beta of 1.97. The stock has a 50-day moving average of $26.46 and a two-hundred day moving average of $24.27. BioLife Solutions has a one year low of $19.10 and a one year high of $29.62.

Insiders Place Their Bets

In related news, CEO Greef Roderick De sold 31,165 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $25.33, for a total transaction of $789,409.45. Following the sale, the chief executive officer directly owned 389,998 shares of the company’s stock, valued at approximately $9,878,649.34. This represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Troy Wichterman sold 1,032 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $26.83, for a total transaction of $27,688.56. Following the sale, the chief financial officer owned 184,186 shares in the company, valued at approximately $4,941,710.38. This represents a 0.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 905,727 shares of company stock worth $25,497,734. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

Several hedge funds have recently modified their holdings of the company. Connors Investor Services Inc. purchased a new position in shares of BioLife Solutions in the 3rd quarter valued at about $224,000. CIBC Bancorp USA Inc. acquired a new stake in BioLife Solutions in the third quarter valued at approximately $1,064,000. PharVision Advisers LLC acquired a new stake in BioLife Solutions in the third quarter valued at approximately $316,000. Quarry LP increased its position in shares of BioLife Solutions by 50.9% in the third quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock valued at $54,000 after buying an additional 713 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of BioLife Solutions by 2.9% during the 3rd quarter. Millennium Management LLC now owns 27,698 shares of the medical equipment provider’s stock worth $707,000 after buying an additional 783 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.