BioLife Solutions (NASDAQ:BLFS) Stock Price Down 11.2% – What’s Next?

BioLife Solutions, Inc. (NASDAQ:BLFS) fell 11.2% during trading on Tuesday . The stock traded as low as $19.55 and last traded at $19.99. 311,177 shares changed hands during mid-day 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 equities analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective on shares of BioLife Solutions in a report on Monday, December 29th. Wall Street Zen upgraded BioLife Solutions from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group reissued a “buy” rating on shares of BioLife Solutions in a report on Monday, December 29th. Northland Securities set a $34.00 price target on BioLife Solutions in a research note on Monday, January 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BioLife Solutions in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.00.

BioLife Solutions Stock Down 7.9%

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

Insider Buying and Selling at BioLife Solutions

In other news, CFO Troy Wichterman sold 30,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $25.72, for a total transaction of $771,600.00. Following the transaction, the chief financial officer owned 152,769 shares of the company’s stock, valued at approximately $3,929,218.68. The trade was a 16.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amy Duross sold 2,000 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 18,687 shares of the company’s stock, valued at $459,700.20. This represents a 9.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 37,802 shares of company stock worth $967,191. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. purchased a new stake in BioLife Solutions in the first quarter valued at $283,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of BioLife Solutions by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,422 shares of the medical equipment provider’s stock worth $489,000 after purchasing an additional 914 shares during the last quarter. Jane Street Group LLC purchased a new stake in BioLife Solutions in the 1st quarter valued at about $1,091,000. Strs Ohio acquired a new position in BioLife Solutions in the first quarter valued at about $153,000. Finally, AlphaQuest LLC purchased a new position in BioLife Solutions during the second quarter worth about $149,000. 93.24% of the stock is currently 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.