BioLife Solutions, Inc. (NASDAQ:BLFS) Receives $29.43 Average Target Price from Analysts

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have been given a consensus rating of “Buy” by the seven analysts that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $29.43.

Several analysts have recently weighed in on BLFS shares. KeyCorp raised their price objective on shares of BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Northland Securities increased their price target on shares of BioLife Solutions from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. HC Wainwright dropped their price target on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Craig Hallum boosted 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. Finally, Benchmark reissued a “buy” rating and set a $30.00 price target on shares of BioLife Solutions in a research report on Thursday, December 19th.

BioLife Solutions Stock Performance

NASDAQ:BLFS opened at $26.14 on Friday. The firm has a 50-day moving average price of $26.08 and a 200 day moving average price of $24.62. 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 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 12-month low of $14.50 and a 12-month high of $28.88.

Insiders Place Their Bets

In related news, CFO Troy Wichterman sold 987 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $27.02, for a total transaction of $26,668.74. Following the sale, the chief financial officer now owns 121,779 shares in the company, valued at approximately $3,290,468.58. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Aby J. Mathew sold 17,604 shares of BioLife Solutions stock in a transaction on Monday, November 18th. The shares were sold at an average price of $20.05, for a total value of $352,960.20. Following the completion of the transaction, the executive vice president now owns 284,442 shares in the company, valued at approximately $5,703,062.10. The trade was a 5.83 % 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 over the last ninety days. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BLFS. Harbour Capital Advisors LLC bought a new stake in shares of BioLife Solutions in the fourth quarter worth $361,000. Principal Financial Group Inc. raised its holdings in shares of BioLife Solutions by 4.7% during the third quarter. Principal Financial Group Inc. now owns 190,715 shares of the medical equipment provider’s stock valued at $4,776,000 after purchasing an additional 8,580 shares during the period. Barclays PLC boosted its holdings in BioLife Solutions by 20.1% in the third quarter. Barclays PLC now owns 64,423 shares of the medical equipment provider’s stock worth $1,613,000 after acquiring an additional 10,803 shares in the last quarter. Geode Capital Management LLC grew its position in 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 during the period. Finally, State Street Corp increased its position in shares of BioLife Solutions by 7.3% during the third quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock worth $35,364,000 after acquiring an additional 95,788 shares in the last quarter. 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.