Insider Selling: BioLife Solutions (NASDAQ:BLFS) CFO Sells 30,000 Shares of Stock

BioLife Solutions, Inc. (NASDAQ:BLFS) CFO Troy Wichterman sold 30,000 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $25.72, for a total transaction of $771,600.00. Following the completion of the sale, the chief financial officer owned 152,769 shares of the company’s stock, valued at $3,929,218.68. This trade represents a 16.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Troy Wichterman also recently made the following trade(s):

• On Tuesday, November 25th, Troy Wichterman sold 584 shares of BioLife Solutions stock. The stock was sold at an average price of $26.74, for a total value of $15,616.16.
• On Thursday, October 9th, Troy Wichterman sold 833 shares of BioLife Solutions stock. The shares were sold at an average price of $27.36, for a total value of $22,790.88.
• On Thursday, September 11th, Troy Wichterman sold 1,032 shares of BioLife Solutions stock. The stock was sold at an average price of $26.83, for a total value of $27,688.56.

BioLife Solutions Stock Performance

BioLife Solutions stock traded down $0.37 during trading hours on Friday, hitting $25.46. The company had a trading volume of 364,368 shares, compared to its average volume of 450,498. The firm has a market cap of $1.23 billion, a P/E ratio of -363.66 and a beta of 1.93. The company has a 50-day moving average price of $26.54 and a two-hundred day moving average price of $24.34. BioLife Solutions, Inc. has a 1 year low of $19.10 and a 1 year high of $29.62.

Hedge Funds Weigh In On BioLife Solutions

Several institutional investors have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of BioLife Solutions during the 2nd quarter worth about $205,000. Comerica Bank grew its position in BioLife Solutions by 5.2% during the first quarter. Comerica Bank now owns 15,024 shares of the medical equipment provider’s stock valued at $343,000 after acquiring an additional 746 shares during the period. Forum Private Client Group LLC purchased a new position in shares of BioLife Solutions in the 2nd quarter valued at $232,000. Royal Bank of Canada grew its stake in shares of BioLife Solutions by 762.8% in the first quarter. Royal Bank of Canada now owns 698,251 shares of the medical equipment provider’s stock valued at $15,948,000 after buying an additional 617,320 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of BioLife Solutions by 10.2% during the second quarter. State of Alaska Department of Revenue now owns 22,096 shares of the medical equipment provider’s stock valued at $475,000 after purchasing an additional 2,048 shares during the period. 93.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wall Street Zen cut shares of BioLife Solutions from a “buy” rating to a “hold” rating in a report on Sunday, November 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BioLife Solutions in a report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of BioLife Solutions in a research note on Monday, November 24th. Finally, Zacks Research raised shares of BioLife Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.20.

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.