BioLife Solutions, Inc. (NASDAQ:BLFS) Given Average Rating of “Buy” by Brokerages

BioLife Solutions, Inc. (NASDAQ:BLFS) has been assigned a consensus rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $29.43.

Several brokerages have issued reports on BLFS. KeyCorp upped their price objective on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Northland Securities increased their price target on BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Craig Hallum increased their price target on BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. HC Wainwright dropped their price target on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Finally, TD Cowen increased their price target on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Insider Buying and Selling

In other news, CFO Troy Wichterman sold 987 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $27.02, for a total transaction of $26,668.74. Following the completion of the sale, the chief financial officer now owns 121,779 shares in the company, valued at approximately $3,290,468.58. This represents a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Greef Roderick De sold 46,896 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $23.43, for a total value of $1,098,773.28. Following the sale, the chief executive officer now owns 414,958 shares of the company’s stock, valued at $9,722,465.94. This trade represents a 10.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,129 shares of company stock valued at $2,344,018 in the last three months. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of BioLife Solutions

Hedge funds have recently modified their holdings of the business. State Street Corp lifted its holdings in shares of BioLife Solutions by 7.3% in the third quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock valued at $35,364,000 after purchasing an additional 95,788 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of BioLife Solutions by 2.2% during the third quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider’s stock worth $21,107,000 after acquiring an additional 18,473 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of BioLife Solutions by 40.8% during the third quarter. The Manufacturers Life Insurance Company now owns 19,463 shares of the medical equipment provider’s stock worth $487,000 after acquiring an additional 5,638 shares in the last quarter. Barclays PLC raised its holdings in shares of BioLife Solutions by 20.1% during the third quarter. Barclays PLC now owns 64,423 shares of the medical equipment provider’s stock worth $1,613,000 after acquiring an additional 10,803 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of BioLife Solutions by 261.5% during the second quarter. Envestnet Asset Management Inc. now owns 127,215 shares of the medical equipment provider’s stock worth $2,726,000 after acquiring an additional 92,021 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

BioLife Solutions Trading Down 0.0 %

NASDAQ:BLFS opened at $27.47 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78. BioLife Solutions has a one year low of $14.50 and a one year high of $28.88. The business’s 50-day simple moving average is $26.16 and its 200 day simple moving average is $24.69. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -25.92 and a beta of 1.92.

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.