BioLife Solutions, Inc. (NASDAQ:BLFS) Short Interest Update

BioLife Solutions, Inc. (NASDAQ:BLFS) was the recipient of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 2,680,000 shares, a decrease of 23.4% from the October 31st total of 3,500,000 shares. Based on an average daily volume of 384,000 shares, the days-to-cover ratio is currently 7.0 days.

Insider Activity at BioLife Solutions

In related news, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were 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 approximately $2,883,097.76. This represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $23.28, for a total transaction of $232,800.00. Following the completion of the sale, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at $7,396,428.48. This represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,313 shares of company stock valued at $1,572,899. 2.20% of the stock is owned by company insiders.

Institutional Trading of BioLife Solutions

Several hedge funds have recently made changes to their positions in BLFS. Vanguard Group Inc. raised its holdings in BioLife Solutions by 11.5% in the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock valued at $53,208,000 after acquiring an additional 296,727 shares in the last quarter. Fred Alger Management LLC raised its holdings in BioLife Solutions by 6.0% in the second quarter. Fred Alger Management LLC now owns 1,579,138 shares of the medical equipment provider’s stock valued at $33,841,000 after acquiring an additional 88,840 shares in the last quarter. State Street Corp raised its holdings in BioLife Solutions by 7.3% in the third quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock valued at $35,364,000 after acquiring an additional 95,788 shares in the last quarter. Geode Capital Management LLC raised its holdings in BioLife Solutions by 2.2% in the third quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider’s stock valued at $21,107,000 after acquiring an additional 18,473 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in BioLife Solutions by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 794,971 shares of the medical equipment provider’s stock valued at $17,034,000 after acquiring an additional 66,422 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

BLFS has been the topic of a number of recent analyst reports. Northland Securities upped their target price on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. HC Wainwright decreased their target price on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Craig Hallum upped their target price on shares of BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, TD Cowen upped their target price on shares of BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

BioLife Solutions Stock Up 1.1 %

Shares of BLFS traded up $0.31 during mid-day trading on Friday, hitting $27.47. 200,092 shares of the company’s stock were exchanged, compared to its average volume of 597,600. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -25.92 and a beta of 1.88. BioLife Solutions has a fifty-two week low of $11.91 and a fifty-two week high of $28.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78. The stock’s 50-day moving average is $24.23 and its 200-day moving average is $23.24.

BioLife Solutions Company Profile

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.