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

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have been assigned an average recommendation of “Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have covered the stock in the last year is $29.43.

A number of research firms have weighed in on BLFS. HC Wainwright cut their price objective on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Benchmark reiterated a “buy” rating and set a $30.00 price target on shares of BioLife Solutions in a research note on Thursday, December 19th. Craig Hallum upped their price objective 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. KeyCorp lifted their target price on BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Northland Securities upped their target price on BioLife Solutions from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th.

BioLife Solutions Price Performance

Shares of NASDAQ BLFS opened at $26.14 on Friday. The stock’s 50-day simple moving average is $26.09 and its 200-day simple moving average is $24.52. The firm has a market capitalization of $1.21 billion, a PE ratio of -24.66 and a beta of 1.92. BioLife Solutions has a fifty-two week low of $14.50 and a fifty-two week high of $28.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78.

Insider Buying and Selling at BioLife Solutions

In other news, EVP Aby J. Mathew sold 17,604 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $20.05, for a total transaction of $352,960.20. Following the transaction, the executive vice president now directly owns 284,442 shares in the company, valued at $5,703,062.10. The trade was a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Greef Roderick De sold 46,896 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $23.43, for a total transaction of $1,098,773.28. Following the completion of the sale, the chief executive officer now owns 414,958 shares of the company’s stock, valued at approximately $9,722,465.94. The trade was a 10.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,129 shares of company stock valued at $2,344,018 in the last ninety days. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Large investors have recently modified their holdings of the business. Harbour Capital Advisors LLC purchased a new stake in shares of BioLife Solutions in the fourth quarter valued at approximately $361,000. Principal Financial Group Inc. boosted its position in shares of BioLife Solutions by 4.7% during the 3rd quarter. Principal Financial Group Inc. now owns 190,715 shares of the medical equipment provider’s stock worth $4,776,000 after purchasing an additional 8,580 shares in the last quarter. Barclays PLC grew its stake in shares of BioLife Solutions by 20.1% during the 3rd quarter. Barclays PLC now owns 64,423 shares of the medical equipment provider’s stock worth $1,613,000 after purchasing an additional 10,803 shares during the period. Geode Capital Management LLC increased its holdings in shares of BioLife Solutions by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider’s stock valued at $21,107,000 after purchasing an additional 18,473 shares in the last quarter. Finally, State Street Corp lifted its stake 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 during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

BioLife Solutions Company Profile

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.