Short Interest in BioLife Solutions Inc (NASDAQ:BLFS) Drops By 5.7%

BioLife Solutions Inc (NASDAQ:BLFS) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 1,266,800 shares, a drop of 5.7% from the June 30th total of 1,343,500 shares. Based on an average daily volume of 194,100 shares, the short-interest ratio is currently 6.5 days. Approximately 9.8% of the company’s shares are short sold.

Several research firms recently weighed in on BLFS. Northland Securities reiterated a “buy” rating and issued a $18.00 price target on shares of BioLife Solutions in a report on Tuesday, July 9th. Maxim Group set a $24.00 price target on shares of BioLife Solutions and gave the company a “buy” rating in a report on Friday, August 9th. HC Wainwright began coverage on shares of BioLife Solutions in a report on Monday, July 22nd. They issued a “buy” rating and a $23.00 price target on the stock. Zacks Investment Research cut shares of BioLife Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, ValuEngine cut shares of BioLife Solutions from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. BioLife Solutions presently has an average rating of “Buy” and a consensus price target of $18.67.

In related news, Director Andrew G. Hinson sold 6,000 shares of BioLife Solutions stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $17.50, for a total value of $105,000.00. Following the sale, the director now owns 33,747 shares in the company, valued at $590,572.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Greef Roderick De sold 10,000 shares of BioLife Solutions stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $16.09, for a total transaction of $160,900.00. Following the completion of the sale, the chief financial officer now owns 35,859 shares in the company, valued at approximately $576,971.31. The disclosure for this sale can be found here. Insiders sold 253,890 shares of company stock worth $4,538,713 in the last 90 days. Company insiders own 27.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new stake in shares of BioLife Solutions during the 2nd quarter valued at $30,000. Cowen Prime Services LLC bought a new stake in shares of BioLife Solutions during the 1st quarter valued at $63,000. Signaturefd LLC bought a new stake in shares of BioLife Solutions during the 1st quarter valued at $161,000. Alpine Woods Capital Investors LLC bought a new stake in shares of BioLife Solutions during the 2nd quarter valued at $170,000. Finally, Morgan Stanley boosted its holdings in shares of BioLife Solutions by 17.5% during the 2nd quarter. Morgan Stanley now owns 11,506 shares of the medical equipment provider’s stock valued at $195,000 after buying an additional 1,713 shares in the last quarter. Hedge funds and other institutional investors own 46.17% of the company’s stock.

NASDAQ:BLFS opened at $19.78 on Friday. The stock has a market cap of $375.82 million, a P/E ratio of 141.29 and a beta of 1.37. The firm’s fifty day simple moving average is $17.62 and its 200 day simple moving average is $17.50. BioLife Solutions has a twelve month low of $9.15 and a twelve month high of $26.35. The company has a quick ratio of 12.99, a current ratio of 9.42 and a debt-to-equity ratio of 0.02.

BioLife Solutions (NASDAQ:BLFS) last announced its earnings results on Thursday, August 8th. The medical equipment provider reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.02. BioLife Solutions had a net margin of 14.60% and a return on equity of 8.65%. The firm had revenue of $6.70 million for the quarter, compared to analysts’ expectations of $6.59 million. On average, analysts expect that BioLife Solutions will post 0.1 EPS for the current fiscal year.

BioLife Solutions Company Profile

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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