BioLife Solutions (NASDAQ:BLFS) Stock Price Down 11.2% – Time to Sell?

BioLife Solutions, Inc. (NASDAQ:BLFS) shares traded down 11.2% during mid-day trading on Tuesday . The company traded as low as $19.55 and last traded at $19.99. 311,177 shares traded hands during trading, a decline of 17% from the average session volume of 373,246 shares. The stock had previously closed at $22.52.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of BioLife Solutions from a “hold” rating to a “buy” rating in a report on Saturday. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of BioLife Solutions in a report on Monday, December 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioLife Solutions in a research report on Wednesday, January 21st. UBS Group restated a “buy” rating on shares of BioLife Solutions in a research note on Monday, December 29th. Finally, Northland Securities set a $34.00 target price on BioLife Solutions in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

BioLife Solutions Trading Down 7.9%

The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -188.53 and a beta of 1.90. The firm has a 50-day moving average of $23.77 and a 200-day moving average of $25.19.

Insider Buying and Selling

In related news, Director Amy Duross sold 2,000 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $24.60, for a total transaction of $49,200.00. Following the completion of the transaction, the director directly owned 18,687 shares in the company, valued at $459,700.20. The trade was a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Troy Wichterman sold 990 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $25.59, for a total transaction of $25,334.10. Following the completion of the sale, the chief financial officer directly owned 150,746 shares in the company, valued at approximately $3,857,590.14. The trade was a 0.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 37,802 shares of company stock worth $967,191. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On BioLife Solutions

Several hedge funds have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its stake in shares of BioLife Solutions by 27.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,180,824 shares of the medical equipment provider’s stock valued at $125,273,000 after purchasing an additional 1,113,972 shares in the last quarter. Invesco Ltd. grew its holdings in BioLife Solutions by 9.2% in the fourth quarter. Invesco Ltd. now owns 3,932,191 shares of the medical equipment provider’s stock valued at $95,080,000 after purchasing an additional 332,747 shares during the period. XTX Topco Ltd increased its position in shares of BioLife Solutions by 280.4% in the fourth quarter. XTX Topco Ltd now owns 36,262 shares of the medical equipment provider’s stock valued at $877,000 after buying an additional 26,729 shares in the last quarter. SummitTX Capital L.P. acquired a new position in shares of BioLife Solutions during the 4th quarter worth approximately $1,747,000. Finally, Sandler Capital Management purchased a new position in shares of BioLife Solutions during the 4th quarter valued at approximately $765,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

About BioLife Solutions

BioLife Solutions (NASDAQ:BLFS) specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife’s product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company’s flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.