Former CEO Michael Rice Sells 72,603 Shares of BioLife Solutions Inc
On October 30, 2023, former CEO and Director Michael Rice sold 72,603 shares of BioLife Solutions Inc (NASDAQ:BLFS). This move comes as part of a series of insider transactions that have taken place over the past year.
Michael Rice, a seasoned executive in the biotechnology industry, served as the CEO of BioLife Solutions Inc. Under his leadership, the company has grown significantly, providing high-quality biopreservation tools for cells, tissues, and organs. BioLife Solutions Inc is a leading developer, manufacturer, and supplier of proprietary clinical-grade cell and tissue hypothermic storage and cryopreservation freeze media products for cells and tissues.
Over the past year, Rice has sold a total of 125,859 shares and has not made any purchases. This recent sale of 72,603 shares is a continuation of this trend.
The insider transaction history for BioLife Solutions Inc shows a total of 4 insider buys and 125 insider sells over the past year. This suggests a trend of insiders selling their shares in the company. However, it's important to note that insider selling does not necessarily indicate a negative outlook for the company. Insiders may sell shares for personal reasons or to diversify their investment portfolio.
On the day of the insider's recent sale, shares of BioLife Solutions Inc were trading at $9.13, giving the company a market cap of $457.094 million.
Despite the recent insider selling, BioLife Solutions Inc appears to be significantly undervalued based on its GF Value. With a price of $9.13 and a GuruFocus Value of $34.23, the stock has a price-to-GF-Value ratio of 0.27. The GF Value is an intrinsic value estimate developed by GuruFocus, calculated based on historical multiples, a GuruFocus adjustment factor, and future business performance estimates from Morningstar analysts.
In conclusion, while the insider's recent sale of shares may raise some eyebrows, the stock's current valuation suggests that BioLife Solutions Inc may still be a good investment opportunity. As always, potential investors should conduct their own research and consider their risk tolerance before making investment decisions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
