BioLife Solutions (NASDAQ:BLFS) Stock Passes Below 200 Day Moving Average – Should You Sell?

BioLife Solutions, Inc. (NASDAQ:BLFS)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.46 and traded as low as $19.51. BioLife Solutions shares last traded at $19.65, with a volume of 222,911 shares traded.

Analysts Set New Price Targets

Several research firms have recently issued reports on BLFS. Weiss Ratings reissued a “sell (d-)” rating on shares of BioLife Solutions in a research report on Wednesday, January 21st. UBS Group reaffirmed a “buy” rating on shares of BioLife Solutions in a report on Monday, December 29th. Wall Street Zen upgraded shares of BioLife Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of BioLife Solutions in a report on Monday, December 29th. Finally, Zacks Research upgraded BioLife Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BioLife Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

BioLife Solutions Price Performance

The business’s fifty day moving average price is $21.82 and its 200-day moving average price is $24.46. The stock has a market capitalization of $949.10 million, a PE ratio of -178.62 and a beta of 1.90.

Insiders Place Their Bets

In other news, CFO Troy Wichterman sold 990 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $25.59, for a total value of $25,334.10. Following the transaction, the chief financial officer owned 150,746 shares of the company’s stock, valued at approximately $3,857,590.14. This represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Karen A. Foster sold 96,923 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $20.15, for a total value of $1,952,998.45. Following the completion of the sale, the insider directly owned 113,742 shares in the company, valued at approximately $2,291,901.30. The trade was a 46.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 101,956 shares of company stock valued at $2,068,241 over the last 90 days. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

Several hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new stake in shares of BioLife Solutions during the 4th quarter valued at $30,000. Kemnay Advisory Services Inc. purchased a new position in BioLife Solutions in the fourth quarter worth $35,000. Hantz Financial Services Inc. increased its stake in BioLife Solutions by 54.1% in the third quarter. Hantz Financial Services Inc. now owns 1,877 shares of the medical equipment provider’s stock valued at $48,000 after acquiring an additional 659 shares during the last quarter. Quarry LP raised its position in BioLife Solutions by 50.9% during the third quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock valued at $54,000 after purchasing an additional 713 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in BioLife Solutions by 12.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,873 shares of the medical equipment provider’s stock valued at $83,000 after purchasing an additional 441 shares in the last quarter. 93.24% of the stock is currently owned by 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.