BioLife Solutions (NASDAQ:BLFS) Now Covered by Jefferies Financial Group

Jefferies Financial Group started coverage on shares of BioLife Solutions (NASDAQ:BLFS) in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $22.00 price target on the medical equipment provider’s stock. Jefferies Financial Group’s target price suggests a potential upside of 28.43% from the stock’s previous close.

BioLife Solutions Stock Down 2.2 %

BLFS opened at $17.13 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.86 and a quick ratio of 1.83. The stock has a market capitalization of $775.99 million, a price-to-earnings ratio of -11.27 and a beta of 1.67. The business has a 50-day moving average of $17.73 and a two-hundred day moving average of $15.12. BioLife Solutions has a 12 month low of $8.92 and a 12 month high of $24.50.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings results on Thursday, February 29th. The medical equipment provider reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.02. BioLife Solutions had a negative return on equity of 13.36% and a negative net margin of 46.37%. On average, research analysts expect that BioLife Solutions will post -0.35 earnings per share for the current year.

Insider Buying and Selling at BioLife Solutions

In other news, CFO Troy Wichterman sold 2,419 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $16.76, for a total transaction of $40,542.44. Following the completion of the sale, the chief financial officer now owns 64,920 shares in the company, valued at approximately $1,088,059.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Greef Roderick De sold 7,249 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $16.60, for a total transaction of $120,333.40. Following the completion of the sale, the chief executive officer now owns 461,854 shares in the company, valued at approximately $7,666,776.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Troy Wichterman sold 2,419 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $16.76, for a total value of $40,542.44. Following the sale, the chief financial officer now owns 64,920 shares of the company’s stock, valued at approximately $1,088,059.20. The disclosure for this sale can be found here. Insiders sold 32,419 shares of company stock worth $550,058 in the last 90 days. 2.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On BioLife Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of BLFS. Nisa Investment Advisors LLC raised its position in shares of BioLife Solutions by 167.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 1,020 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of BioLife Solutions in the 1st quarter valued at approximately $36,000. Cubist Systematic Strategies LLC acquired a new position in shares of BioLife Solutions in the 1st quarter valued at approximately $36,000. GAMMA Investing LLC acquired a new position in shares of BioLife Solutions in the 4th quarter valued at approximately $41,000. Finally, US Bancorp DE raised its position in shares of BioLife Solutions by 374.6% in the 4th quarter. US Bancorp DE now owns 2,520 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 1,989 shares in the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

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.