Insider Selling: BioLife Solutions, Inc. (NASDAQ:BLFS) CFO Sells $582,067.42 in Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) CFO Troy Wichterman sold 25,687 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $22.66, for a total transaction of $582,067.42. Following the completion of the transaction, the chief financial officer now directly owns 189,242 shares of the company’s stock, valued at approximately $4,288,223.72. This trade represents a 11.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Troy Wichterman also recently made the following trade(s):

• On Tuesday, March 11th, Troy Wichterman sold 4,151 shares of BioLife Solutions stock. The shares were sold at an average price of $25.00, for a total transaction of $103,775.00.
• On Monday, March 3rd, Troy Wichterman sold 660 shares of BioLife Solutions stock. The stock was sold at an average price of $25.46, for a total transaction of $16,803.60.
• On Wednesday, February 12th, Troy Wichterman sold 159 shares of BioLife Solutions stock. The shares were sold at an average price of $26.54, for a total transaction of $4,219.86.
• On Monday, January 6th, Troy Wichterman sold 987 shares of BioLife Solutions stock. The stock was sold at an average price of $27.02, for a total value of $26,668.74.

BioLife Solutions Price Performance

Shares of BLFS stock opened at $20.88 on Friday. The company has a market capitalization of $981.36 million, a P/E ratio of -19.70 and a beta of 2.04. The company’s 50-day simple moving average is $25.87 and its two-hundred day simple moving average is $25.50. BioLife Solutions, Inc. has a one year low of $14.84 and a one year high of $29.55. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings data on Monday, March 3rd. The medical equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.32. The company had revenue of $22.71 million for the quarter, compared to analysts’ expectations of $21.73 million. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. As a group, equities analysts anticipate that BioLife Solutions, Inc. will post -0.3 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on BLFS. Northland Securities lifted their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. KeyCorp boosted their price objective on shares of BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. HC Wainwright increased their target price on shares of BioLife Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. StockNews.com cut shares of BioLife Solutions from a “hold” rating to a “sell” rating in a research note on Monday, March 31st. Finally, Benchmark reissued a “buy” rating and issued a $30.00 price objective on shares of BioLife Solutions in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.17.

Hedge Funds Weigh In On BioLife Solutions

Several institutional investors have recently made changes to their positions in BLFS. Invesco Ltd. lifted its stake in BioLife Solutions by 1.1% in the fourth quarter. Invesco Ltd. now owns 3,239,469 shares of the medical equipment provider’s stock worth $84,097,000 after acquiring an additional 36,176 shares during the period. Fred Alger Management LLC lifted its position in shares of BioLife Solutions by 1.0% in the 4th quarter. Fred Alger Management LLC now owns 1,594,221 shares of the medical equipment provider’s stock worth $41,386,000 after purchasing an additional 16,274 shares during the period. State Street Corp lifted its position in shares of BioLife Solutions by 7.3% in the 3rd quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock worth $35,364,000 after purchasing an additional 95,788 shares during the period. Millennium Management LLC boosted its stake in shares of BioLife Solutions by 49.1% during the fourth quarter. Millennium Management LLC now owns 1,145,347 shares of the medical equipment provider’s stock valued at $29,733,000 after purchasing an additional 377,111 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in BioLife Solutions by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 887,008 shares of the medical equipment provider’s stock valued at $23,028,000 after buying an additional 40,416 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.