BioLife Solutions (NASDAQ:BLFS) Shares Up 4.2% – Here’s Why

BioLife Solutions, Inc. (NASDAQ:BLFS) rose 4.2% on Friday . The stock traded as high as $27.20 and last traded at $27.20. Approximately 48,816 shares were traded during trading, a decline of 87% from the average daily volume of 382,486 shares. The stock had previously closed at $26.11.

Wall Street Analysts Forecast Growth

BLFS has been the subject of several recent analyst reports. HC Wainwright decreased their price target on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, November 18th. Benchmark restated a “buy” rating and issued a $30.00 target price on shares of BioLife Solutions in a report on Thursday. Craig Hallum increased their price target on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. KeyCorp boosted their price objective on shares of BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, TD Cowen raised their target price on shares of BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

BioLife Solutions Stock Performance

The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -25.84 and a beta of 1.91. The firm’s 50 day moving average price is $24.96 and its 200-day moving average price is $23.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78.

Insider Transactions at BioLife Solutions

In other BioLife Solutions news, EVP Aby J. Mathew sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $21.17, for a total value of $529,250.00. Following the completion of the sale, the executive vice president now owns 302,046 shares in the company, valued at approximately $6,394,313.82. This trade represents a 7.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 64,259 shares of company stock worth $1,424,708. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Fred Alger Management LLC increased its holdings in BioLife Solutions by 6.0% in the 2nd quarter. Fred Alger Management LLC now owns 1,579,138 shares of the medical equipment provider’s stock valued at $33,841,000 after buying an additional 88,840 shares during the period. State Street Corp increased its stake in 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 acquiring an additional 95,788 shares during the period. Geode Capital Management LLC increased its stake in BioLife Solutions by 2.2% in the third quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider’s stock valued at $21,107,000 after acquiring an additional 18,473 shares during the period. Dimensional Fund Advisors LP raised its position in BioLife Solutions by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 794,971 shares of the medical equipment provider’s stock worth $17,034,000 after purchasing an additional 66,422 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in BioLife Solutions by 81.3% during the third quarter. Rockefeller Capital Management L.P. now owns 585,497 shares of the medical equipment provider’s stock worth $14,661,000 after purchasing an additional 262,504 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.