BioLife Solutions Inc (NASDAQ:BLFS) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 1,980,000 shares, a growth of 5.3% from the September 30th total of 1,880,000 shares. Based on an average daily volume of 169,700 shares, the short-interest ratio is currently 11.7 days. Approximately 13.3% of the company’s stock are short sold.
In related news, VP Todd Berard sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $20.02, for a total value of $60,060.00. Following the transaction, the vice president now directly owns 44,074 shares of the company’s stock, valued at approximately $882,361.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Johan Wedell-Wedellsborg sold 17,243 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $27.00, for a total value of $465,561.00. Insiders have sold a total of 193,294 shares of company stock valued at $3,579,487 over the last ninety days. Company insiders own 27.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLFS. FMR LLC acquired a new stake in BioLife Solutions in the 1st quarter valued at approximately $2,684,000. WINTON GROUP Ltd grew its holdings in BioLife Solutions by 26.3% in the 2nd quarter. WINTON GROUP Ltd now owns 22,118 shares of the medical equipment provider’s stock valued at $375,000 after buying an additional 4,607 shares during the last quarter. Penbrook Management LLC acquired a new stake in BioLife Solutions in the 2nd quarter valued at approximately $493,000. Roubaix Capital LLC grew its holdings in BioLife Solutions by 165.9% in the 2nd quarter. Roubaix Capital LLC now owns 120,313 shares of the medical equipment provider’s stock valued at $2,039,000 after buying an additional 75,068 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC acquired a new stake in BioLife Solutions in the 2nd quarter valued at approximately $170,000. 46.22% of the stock is currently owned by hedge funds and other institutional investors.
BLFS opened at $14.77 on Tuesday. The firm has a market capitalization of $301.67 million, a P/E ratio of 105.50 and a beta of 1.35. The stock’s 50 day moving average price is $16.36 and its two-hundred day moving average price is $17.71. The company has a quick ratio of 7.71, a current ratio of 6.49 and a debt-to-equity ratio of 0.01. BioLife Solutions has a 12-month low of $9.15 and a 12-month high of $22.44.
BLFS has been the topic of a number of recent analyst reports. ValuEngine downgraded BioLife Solutions from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Maxim Group set a $26.00 price objective on BioLife Solutions and gave the company a “buy” rating in a research note on Tuesday, September 17th. Zacks Investment Research raised BioLife Solutions from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Thursday, November 14th. HC Wainwright initiated coverage on BioLife Solutions in a research note on Monday, July 22nd. They issued a “buy” rating and a $23.00 price objective on the stock. Finally, BidaskClub downgraded BioLife Solutions from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. BioLife Solutions has an average rating of “Buy” and an average target price of $18.40.
About BioLife Solutions
BioLife Solutions, Inc develops, manufactures, and markets grade cell and tissue hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs in the United States. Its products are serum-free and protein-free solutions, which are formulated to reduce preservation-induced cell damage and death.
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