BioLife Solutions (NASDAQ:BLFS) Shares Gap Up to $17.32

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) gapped up prior to trading on Thursday . The stock had previously closed at $17.32, but opened at $18.21. BioLife Solutions shares last traded at $18.46, with a volume of 35,132 shares.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group assumed coverage on BioLife Solutions in a research report on Thursday. They issued a “buy” rating and a $22.00 target price for the company. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

BioLife Solutions Stock Down 2.2 %

The company has a market capitalization of $775.99 million, a price-to-earnings ratio of -11.27 and a beta of 1.67. The business has a fifty day simple moving average of $17.73 and a two-hundred day simple moving average of $15.12. The company has a quick ratio of 1.83, a current ratio of 2.86 and a debt-to-equity ratio of 0.06.

BioLife Solutions (NASDAQ:BLFS) last posted its earnings results on Thursday, February 29th. The medical equipment provider reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02. BioLife Solutions had a negative return on equity of 13.36% and a negative net margin of 46.37%. Equities analysts expect that BioLife Solutions, Inc. will post -0.35 EPS for the current year.

Insider Transactions at BioLife Solutions

In other news, CEO Greef Roderick De sold 2,642 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $16.76, for a total value of $44,279.92. Following the sale, the chief executive officer now owns 439,897 shares of the company’s stock, valued at $7,372,673.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Geraint Phillips sold 1,776 shares of BioLife Solutions stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $16.76, for a total transaction of $29,765.76. Following the completion of the transaction, the senior vice president now directly owns 58,251 shares in the company, valued at approximately $976,286.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Greef Roderick De sold 2,642 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $16.76, for a total value of $44,279.92. Following the transaction, the chief executive officer now directly owns 439,897 shares in the company, valued at $7,372,673.72. The disclosure for this sale can be found here. Insiders sold 32,419 shares of company stock valued at $550,058 in the last ninety days. 2.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BioLife Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLFS. Point72 Hong Kong Ltd acquired a new position in shares of BioLife Solutions in the first quarter valued at approximately $36,000. Nisa Investment Advisors LLC boosted its stake in BioLife Solutions by 167.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 1,020 shares during the period. Cubist Systematic Strategies LLC acquired a new position in BioLife Solutions in the 1st quarter valued at $36,000. Lazard Asset Management LLC acquired a new position in BioLife Solutions in the 1st quarter valued at $45,000. Finally, GAMMA Investing LLC bought a new position in BioLife Solutions during the 4th quarter worth $41,000. 93.24% of the stock is owned by 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.