Insider Selling: BioLife Solutions, Inc. (NASDAQ:BLFS) CFO Sells 956 Shares of Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) CFO Troy Wichterman sold 956 shares of the stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $15.31, for a total value of $14,636.36. Following the completion of the sale, the chief financial officer now owns 126,658 shares of the company’s stock, valued at $1,939,133.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, March 21st, Troy Wichterman sold 520 shares of BioLife Solutions stock. The stock was sold at an average price of $17.83, for a total value of $9,271.60.
• On Monday, March 11th, Troy Wichterman sold 361 shares of BioLife Solutions stock. The stock was sold at an average price of $17.42, for a total value of $6,288.62.
• On Wednesday, February 21st, Troy Wichterman sold 97 shares of BioLife Solutions stock. The stock was sold at an average price of $17.35, for a total value of $1,682.95.

BioLife Solutions Stock Up 1.3 %

BLFS stock traded up $0.22 during mid-day trading on Tuesday, reaching $17.02. The company had a trading volume of 527,610 shares, compared to its average volume of 409,926. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.86 and a quick ratio of 1.83. The stock has a 50 day simple moving average of $17.40 and a two-hundred day simple moving average of $15.39. The company has a market capitalization of $771.01 million, a price-to-earnings ratio of -11.20 and a beta of 1.67. BioLife Solutions, Inc. has a 52 week low of $8.92 and a 52 week high of $24.50.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings results on Thursday, February 29th. The medical equipment provider reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. The firm had revenue of $32.73 million during the quarter, compared to the consensus estimate of $32.70 million. BioLife Solutions had a negative return on equity of 13.36% and a negative net margin of 46.37%. As a group, equities analysts predict that BioLife Solutions, Inc. will post -0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BLFS. Everence Capital Management Inc. acquired a new stake in shares of BioLife Solutions in the third quarter valued at approximately $218,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of BioLife Solutions by 8.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,622 shares of the medical equipment provider’s stock valued at $216,000 after buying an additional 1,164 shares during the last quarter. Roubaix Capital LLC acquired a new stake in shares of BioLife Solutions in the third quarter valued at approximately $2,029,000. Allspring Global Investments Holdings LLC lifted its position in shares of BioLife Solutions by 88.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 11,346 shares of the medical equipment provider’s stock valued at $157,000 after buying an additional 5,324 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its position in shares of BioLife Solutions by 26.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 88,800 shares of the medical equipment provider’s stock valued at $1,226,000 after buying an additional 18,500 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group began coverage on BioLife Solutions in a report on Thursday, April 4th. They set a “buy” rating and a $22.00 price objective for the company. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.40.

BioLife Solutions Company Profile

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.