Short Interest in BioLife Solutions, Inc. (NASDAQ:BLFS) Rises By 5.8%

BioLife Solutions, Inc. (NASDAQ:BLFS) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 3,310,000 shares, a growth of 5.8% from the December 15th total of 3,130,000 shares. Based on an average daily volume of 379,000 shares, the short-interest ratio is currently 8.7 days.

Insider Buying and Selling at BioLife Solutions

In other news, EVP Aby J. Mathew sold 7,604 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $27.33, for a total value of $207,817.32. Following the transaction, the executive vice president now owns 276,315 shares in the company, valued at $7,551,688.95. The trade was a 2.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Troy Wichterman sold 987 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $27.02, for a total value of $26,668.74. Following the completion of the transaction, the chief financial officer now owns 121,779 shares in the company, valued at $3,290,468.58. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,129 shares of company stock worth $2,344,018. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC purchased a new position in shares of BioLife Solutions during the 3rd quarter valued at $28,000. Quest Partners LLC purchased a new position in shares of BioLife Solutions during the 3rd quarter valued at $57,000. GAMMA Investing LLC grew its position in shares of BioLife Solutions by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock valued at $83,000 after purchasing an additional 748 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of BioLife Solutions during the 2nd quarter valued at $122,000. Finally, Summit Global Investments purchased a new position in shares of BioLife Solutions during the 3rd quarter valued at $228,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

BioLife Solutions Stock Performance

Shares of BLFS traded down $0.31 during mid-day trading on Friday, reaching $26.14. 146,801 shares of the stock traded hands, compared to its average volume of 265,856. The firm has a fifty day moving average price of $26.09 and a 200 day moving average price of $24.55. The company has a quick ratio of 1.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.03. BioLife Solutions has a 1 year low of $14.50 and a 1 year high of $28.88.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BLFS. HC Wainwright lowered their price target on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Craig Hallum lifted their price target on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. KeyCorp lifted their price target on shares of BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Benchmark reissued a “buy” rating and set a $30.00 target price on shares of BioLife Solutions in a report on Thursday, December 19th. Finally, Northland Securities boosted their target price on shares of BioLife Solutions from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BioLife Solutions presently has an average rating of “Moderate Buy” and an average target price of $29.43.

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.