BioLife Solutions (NASDAQ:BLFS) Cut to "Sell" at Wall Street Zen

Wall Street Zen downgraded shares of BioLife Solutions (NASDAQ:BLFS - Free Report) from a hold rating to a sell rating in a research note published on Wednesday morning.

Separately, HC Wainwright reiterated a "buy" rating and set a $30.00 target price on shares of BioLife Solutions in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $31.17.

BioLife Solutions Trading Down 1.4%

BLFS stock traded down $0.32 during midday trading on Wednesday, reaching $21.78. 284,704 shares of the company's stock traded hands, compared to its average volume of 385,921. 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 $18.70 and a fifty-two week high of $29.55. The business has a 50-day moving average price of $23.13 and a two-hundred day moving average price of $25.16. The company has a market capitalization of $1.03 billion, a P/E ratio of -20.55 and a beta of 2.01.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last posted its earnings results on Thursday, May 8th. The medical equipment provider reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.07. BioLife Solutions had a negative net margin of 38.98% and a negative return on equity of 6.61%. The business had revenue of $23.94 million for the quarter, compared to analyst estimates of $22.22 million. Equities research analysts forecast that BioLife Solutions will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Troy Wichterman sold 25,687 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $22.66, for a total transaction of $582,067.42. Following the completion of the sale, the chief financial officer now owns 189,242 shares in the company, valued at approximately $4,288,223.72. This represents a 11.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Aby J. Mathew sold 10,589 shares of BioLife Solutions stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $22.66, for a total transaction of $239,946.74. Following the completion of the transaction, the executive vice president now directly owns 309,576 shares in the company, valued at approximately $7,014,992.16. This trade represents a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,696 shares of company stock valued at $1,665,094 in the last quarter. Company insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On BioLife Solutions

A number of institutional investors have recently made changes to their positions in BLFS. Steward Partners Investment Advisory LLC bought a new stake in BioLife Solutions in the 4th quarter valued at $26,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in BioLife Solutions in the fourth quarter valued at $31,000. State of Wyoming grew its position in BioLife Solutions by 353.1% in the first quarter. State of Wyoming now owns 1,912 shares of the medical equipment provider's stock valued at $44,000 after acquiring an additional 1,490 shares during the period. US Bancorp DE raised its stake in BioLife Solutions by 243.7% during the first quarter. US Bancorp DE now owns 2,155 shares of the medical equipment provider's stock worth $49,000 after acquiring an additional 1,528 shares in the last quarter. Finally, 1620 Investment Advisors Inc. lifted its holdings in shares of BioLife Solutions by 41.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider's stock valued at $60,000 after acquiring an additional 675 shares during the period. 93.24% of the stock is currently owned by institutional investors.

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.