BioLife Solutions (NASDAQ:BLFS) Shares Down 5.2% - Should You Sell?

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) dropped 5.2% during mid-day trading on Monday . The company traded as low as $20.80 and last traded at $20.75. Approximately 54,004 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 433,010 shares. The stock had previously closed at $21.88.

Analysts Set New Price Targets

Several equities analysts have weighed in on BLFS shares. Wall Street Zen downgraded BioLife Solutions from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price objective on shares of BioLife Solutions in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat, BioLife Solutions presently has a consensus rating of "Moderate Buy" and an average target price of $31.17.

BioLife Solutions Stock Performance

The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -22.37 and a beta of 1.82. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. The stock's 50-day moving average is $22.56 and its 200-day moving average is $25.05.

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

Insider Transactions at BioLife Solutions

In related news, CFO Troy Wichterman sold 4,151 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total transaction of $103,775.00. Following the completion of the transaction, the chief financial officer now owns 116,809 shares of the company's stock, valued at approximately $2,920,225. This represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sarah Aebersold sold 1,091 shares of BioLife Solutions stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total transaction of $27,275.00. Following the completion of the transaction, the insider now owns 58,816 shares in the company, valued at approximately $1,470,400. This trade represents a 1.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,756 shares of company stock worth $1,660,535 in the last three months. Company insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On BioLife Solutions

A number of large investors have recently modified their holdings of BLFS. Steward Partners Investment Advisory LLC purchased a new stake in shares of BioLife Solutions during the 4th quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in BioLife Solutions during the fourth quarter valued at approximately $31,000. State of Wyoming grew its stake in BioLife Solutions by 353.1% during the first quarter. State of Wyoming now owns 1,912 shares of the medical equipment provider's stock worth $44,000 after buying an additional 1,490 shares during the period. US Bancorp DE grew 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 buying an additional 1,528 shares during the period. Finally, 1620 Investment Advisors Inc. increased its position in shares of BioLife Solutions by 41.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider's stock worth $60,000 after acquiring an additional 675 shares in the last quarter. 93.24% of the stock is currently owned by hedge funds and other 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.