BioLife Solutions, Inc. (NASDAQ:BLFS) Receives Average Rating of “Buy” from Analysts

BioLife Solutions, Inc. (NASDAQ:BLFS) has been given an average recommendation of “Buy” by the seven brokerages that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued a report on the stock in the last year is $29.43.

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

BioLife Solutions Trading Up 2.3 %

BioLife Solutions stock opened at $27.77 on Wednesday. BioLife Solutions has a 52 week low of $14.50 and a 52 week high of $29.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78. The firm has a market capitalization of $1.29 billion, a PE ratio of -26.20 and a beta of 1.91. The business’s 50-day simple moving average is $26.81 and its 200-day simple moving average is $25.34.

Insider Buying and Selling

In other news, CFO Troy Wichterman sold 987 shares of the 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 directly owns 121,779 shares of the company’s stock, valued at approximately $3,290,468.58. This represents a 0.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Aby J. Mathew sold 7,604 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $27.33, for a total value of $207,817.32. Following the completion of the sale, the executive vice president now directly owns 276,315 shares in the company, valued at approximately $7,551,688.95. This represents a 2.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,678 shares of company stock valued at $317,990 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Several institutional investors have recently added to or reduced their stakes in BLFS. Steward Partners Investment Advisory LLC bought a new stake in BioLife Solutions during the fourth quarter worth about $26,000. Mark Sheptoff Financial Planning LLC bought a new stake in BioLife Solutions during the 3rd quarter worth approximately $28,000. Quest Partners LLC acquired a new stake in BioLife Solutions during the 3rd quarter valued at $57,000. 1620 Investment Advisors Inc. raised its position in BioLife Solutions by 41.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider’s stock valued at $60,000 after purchasing an additional 675 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in BioLife Solutions by 29.4% in the third quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after purchasing an additional 748 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

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.