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

BioLife Solutions, Inc. (NASDAQ:BLFS)’s stock price was up 4.2% on Friday . The company traded as high as $27.20 and last traded at $27.20. Approximately 48,816 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 382,486 shares. The stock had previously closed at $26.11.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. KeyCorp lifted their price objective on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, December 13th. HC Wainwright cut 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. Craig Hallum upped their price objective on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. TD Cowen lifted 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. Finally, Benchmark restated a “buy” rating and set a $30.00 price target on shares of BioLife Solutions in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.00.

BioLife Solutions Price Performance

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

Insider Buying and Selling at BioLife Solutions

In other BioLife Solutions news, EVP Aby J. Mathew sold 25,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $21.17, for a total transaction of $529,250.00. Following the completion of the sale, the executive vice president now directly owns 302,046 shares of the company’s stock, valued at approximately $6,394,313.82. The trade was a 7.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 64,259 shares of company stock worth $1,424,708. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

Institutional investors have recently modified their holdings of the business. Fred Alger Management LLC lifted its holdings in BioLife Solutions by 6.0% in the second 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 lifted its stake in shares of BioLife Solutions by 7.3% in the 3rd 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. Geode Capital Management LLC boosted its position 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 worth $21,107,000 after purchasing an additional 18,473 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of BioLife Solutions by 9.1% in the 2nd 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 during the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in BioLife Solutions by 81.3% in the third quarter. Rockefeller Capital Management L.P. now owns 585,497 shares of the medical equipment provider’s stock valued at $14,661,000 after purchasing an additional 262,504 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

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.