By otakuyassine3@gmail.com 
BioLife Solutions, Inc. (NASDAQ:BLFS – Get Free Report) was the target of a significant growth in short interest in November. As of November 30th, there was short interest totalling 3,240,000 shares, a growth of 20.9% from the November 15th total of 2,680,000 shares. Based on an average daily volume of 384,100 shares, the days-to-cover ratio is currently 8.4 days.
BioLife Solutions Stock Performance
NASDAQ:BLFS traded down $0.02 during midday trading on Friday, hitting $26.70. The company’s stock had a trading volume of 365,400 shares, compared to its average volume of 383,235. 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 has a fifty-two week low of $13.99 and a fifty-two week high of $28.88. The firm’s 50 day moving average is $24.62 and its 200-day moving average is $23.57. The firm has a market cap of $1.24 billion, a P/E ratio of -25.19 and a beta of 1.91.
Insiders Place Their Bets
In other news, CRO Garrie Richardson sold 3,070 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the completion of the sale, the executive now owns 114,773 shares of the company’s stock, valued at $2,883,097.76. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Aby J. Mathew sold 17,604 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $20.05, for a total value of $352,960.20. Following the transaction, the executive vice president now owns 284,442 shares in the company, valued at approximately $5,703,062.10. This trade represents a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,313 shares of company stock worth $1,572,899. 2.20% of the stock is owned by corporate insiders.
Institutional Trading of BioLife Solutions
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Stifel Financial Corp lifted its position in BioLife Solutions by 5.4% during the third quarter. Stifel Financial Corp now owns 12,988 shares of the medical equipment provider’s stock valued at $325,000 after purchasing an additional 670 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of BioLife Solutions by 4.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the medical equipment provider’s stock valued at $392,000 after buying an additional 700 shares during the period. GAMMA Investing LLC boosted its stake in shares of BioLife Solutions by 29.4% in the third quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after buying an additional 748 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in BioLife Solutions by 5.8% during the second quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock worth $296,000 after acquiring an additional 753 shares during the period. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in BioLife Solutions during the third quarter worth about $28,000. Institutional investors and hedge funds own 93.24% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently weighed in on BLFS. Craig Hallum boosted their price target on BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. HC Wainwright lowered their target price on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, November 18th. TD Cowen upped their price target on shares of BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, KeyCorp lifted their price objective on shares of BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday. One analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat, BioLife Solutions has an average rating of “Moderate Buy” and an average price target of $28.29.
Check Out Our Latest Research Report on BioLife Solutions
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.
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