BioLife Solutions, Inc. (NASDAQ:BLFS – Get Rating)’s stock price dropped 8.8% on Tuesday after Cowen lowered their price target on the stock to $29.00. The stock traded as low as $23.69 and last traded at $23.71. Approximately 3,740 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 353,696 shares. The stock had previously closed at $26.01.
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BLFS has been the subject of several other reports. Maxim Group lowered their target price on shares of BioLife Solutions from $60.00 to $30.00 in a report on Thursday, May 12th. Cowen decreased their target price on shares of BioLife Solutions from $50.00 to $32.00 in a research report on Tuesday, May 10th. Oppenheimer upgraded shares of BioLife Solutions from a “market perform” rating to an “outperform” rating in a research report on Monday, April 25th. Finally, B. Riley reduced their target price on shares of BioLife Solutions from $48.00 to $34.00 in a research note on Tuesday, May 17th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.
Insider Transactions at BioLife Solutions
In other BioLife Solutions news, CRO Marcus Schulz sold 4,600 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $20.03, for a total transaction of $92,138.00. Following the sale, the executive now directly owns 36,218 shares in the company, valued at $725,446.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Greef Roderick De sold 9,158 shares of the business’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $15.79, for a total transaction of $144,604.82. Following the completion of the transaction, the chief operating officer now owns 124,458 shares of the company’s stock, valued at $1,965,191.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Marcus Schulz sold 4,600 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $20.03, for a total value of $92,138.00. Following the sale, the executive now directly owns 36,218 shares of the company’s stock, valued at approximately $725,446.54. The disclosure for this sale can be found here. Insiders have sold a total of 19,602 shares of company stock valued at $330,022 over the last 90 days. 3.30% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. KBC Group NV bought a new stake in BioLife Solutions during the 2nd quarter valued at approximately $36,000. Point72 Hong Kong Ltd bought a new stake in BioLife Solutions in the 1st quarter worth approximately $36,000. Lazard Asset Management LLC bought a new stake in BioLife Solutions in the 1st quarter worth approximately $45,000. Mutual of America Capital Management LLC increased its stake in BioLife Solutions by 18.7% in the 2nd quarter. Mutual of America Capital Management LLC now owns 5,128 shares of the medical equipment provider’s stock worth $71,000 after acquiring an additional 808 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in BioLife Solutions in the 4th quarter worth approximately $76,000. 83.48% of the stock is owned by hedge funds and other institutional investors.
BioLife Solutions Trading Down 7.8 %
The company has a current ratio of 3.55, a quick ratio of 2.54 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $17.06 and a 200-day simple moving average of $18.67. The firm has a market cap of $1.02 billion, a P/E ratio of -10.57 and a beta of 1.99.
BioLife Solutions Company Profile
BioLife Solutions, Inc develops, manufactures, and supplies bioproduction tools and services for the cell and gene therapy industry in the United States, Canada, 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.