BioLife Solutions, Inc. (NASDAQ:BLFS) CEO Michael Rice Sells 1,729 Shares of Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) CEO Michael Rice sold 1,729 shares of BioLife Solutions stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $10.99, for a total transaction of $19,001.71. Following the sale, the chief executive officer now directly owns 416,906 shares in the company, valued at $4,581,796.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Michael Rice also recently made the following trade(s):

• On Monday, August 14th, Michael Rice sold 277 shares of BioLife Solutions stock. The shares were sold at an average price of $12.38, for a total transaction of $3,429.26.
• On Tuesday, June 27th, Michael Rice sold 877 shares of BioLife Solutions stock. The shares were sold at an average price of $22.91, for a total transaction of $20,092.07.
• On Wednesday, May 31st, Michael Rice sold 1,679 shares of BioLife Solutions stock. The stock was sold at an average price of $23.21, for a total transaction of $38,969.59.

BioLife Solutions Stock Up 13.8 %

BioLife Solutions stock opened at $12.68 on Wednesday. The company has a quick ratio of 2.05, a current ratio of 3.04 and a debt-to-equity ratio of 0.07. BioLife Solutions, Inc. has a 12-month low of $10.48 and a 12-month high of $26.96. The firm’s fifty day moving average is $18.28 and its 200 day moving average is $20.24. The company has a market capitalization of $551.45 million, a PE ratio of -6.57 and a beta of 1.63.

BioLife Solutions (NASDAQ:BLFS) last released its earnings results on Tuesday, August 8th. The medical equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.22). The company had revenue of $39.51 million for the quarter, compared to analyst estimates of $43.93 million. BioLife Solutions had a negative net margin of 51.20% and a negative return on equity of 9.87%. As a group, sell-side analysts predict that BioLife Solutions, Inc. will post -0.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. StockNews.com raised shares of BioLife Solutions to a “sell” rating in a report on Thursday, July 20th. Lake Street Capital dropped their price target on shares of BioLife Solutions from $34.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. TD Cowen dropped their price target on shares of BioLife Solutions from $29.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 9th. Stephens dropped their price target on shares of BioLife Solutions from $29.00 to $22.00 in a research report on Wednesday, August 9th. Finally, Craig Hallum dropped their price target on shares of BioLife Solutions from $29.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.60.

Institutional Trading of BioLife Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in shares of BioLife Solutions by 5.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,437 shares of the medical equipment provider’s stock worth $249,000 after acquiring an additional 571 shares in the last quarter. Fifth Third Bancorp grew its position in BioLife Solutions by 56.9% during the second quarter. Fifth Third Bancorp now owns 1,899 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 689 shares during the period. Macquarie Group Ltd. grew its position in BioLife Solutions by 1.1% during the second quarter. Macquarie Group Ltd. now owns 73,437 shares of the medical equipment provider’s stock valued at $1,014,000 after buying an additional 766 shares during the period. Envestnet Asset Management Inc. grew its position in BioLife Solutions by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 35,066 shares of the medical equipment provider’s stock valued at $775,000 after buying an additional 793 shares during the period. Finally, NorthCrest Asset Manangement LLC grew its position in BioLife Solutions by 5.6% during the first quarter. NorthCrest Asset Manangement LLC now owns 15,200 shares of the medical equipment provider’s stock valued at $331,000 after buying an additional 800 shares during the period. Institutional investors own 93.24% of the company’s stock.

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.