BioLife Solutions (NASDAQ:BLFS) Stock Price Expected to Rise, KeyCorp Analyst Says

BioLife Solutions (NASDAQ:BLFS) had its target price hoisted by KeyCorp from $30.00 to $33.00 in a report issued on Friday morning,Benzinga reports. KeyCorp currently has an overweight rating on the medical equipment provider’s stock.

Several other equities research analysts have also recently commented on BLFS. Craig Hallum upped their price target on BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. HC Wainwright cut their price objective on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Finally, 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 report on Wednesday, November 13th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.29.

BioLife Solutions Stock Down 0.1 %

BLFS opened at $26.70 on Friday. BioLife Solutions has a 52 week low of $13.99 and a 52 week high of $28.88. The business has a 50 day moving average price of $24.62 and a two-hundred day moving average price of $23.57. The company has a quick ratio of 1.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.24 billion, a PE ratio of -25.19 and a beta of 1.91.

Insider Transactions at BioLife Solutions

In other news, EVP Aby J. Mathew sold 17,604 shares of BioLife Solutions stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $20.05, for a total transaction of $352,960.20. Following the completion of the sale, the executive vice president now directly owns 284,442 shares in the company, valued at approximately $5,703,062.10. This trade represents a 5.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 66,655 shares of company stock valued at $1,455,890 in the last ninety days. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BioLife Solutions

Several hedge funds have recently bought and sold shares of the company. Isthmus Partners LLC grew its holdings in BioLife Solutions by 34.4% in the second quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 42,265 shares during the last quarter. Mutual of America Capital Management LLC purchased a new stake in shares of BioLife Solutions in the 2nd quarter worth about $8,592,000. The Manufacturers Life Insurance Company grew its stake in BioLife Solutions by 40.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,463 shares of the medical equipment provider’s stock valued at $487,000 after acquiring an additional 5,638 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in BioLife Solutions by 261.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 127,215 shares of the medical equipment provider’s stock valued at $2,726,000 after acquiring an additional 92,021 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new position in BioLife Solutions during the 2nd quarter valued at about $233,000. 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.