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

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have received an average rating of “Buy” from the seven research firms that are covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $29.43.

A number of analysts have issued reports on BLFS shares. Craig Hallum lifted 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. TD Cowen boosted 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. Benchmark reaffirmed a “buy” rating and set a $30.00 price target on shares of BioLife Solutions in a research note on Thursday, December 19th. HC Wainwright lowered 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 note on Monday, November 18th. Finally, Northland Securities upped their price objective on BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th.

Insider Activity at BioLife Solutions

In other BioLife Solutions news, EVP Aby J. Mathew sold 7,604 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $27.33, for a total value of $207,817.32. Following the completion of the transaction, the executive vice president now owns 276,315 shares in the company, valued at $7,551,688.95. This represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Troy Wichterman sold 987 shares of BioLife Solutions 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 $3,290,468.58. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,678 shares of company stock worth $317,990. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BioLife Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLFS. Raymond James Financial Inc. purchased a new stake in shares of BioLife Solutions during the fourth quarter worth about $20,664,000. Massachusetts Financial Services Co. MA acquired a new stake in BioLife Solutions during the 4th quarter valued at approximately $19,805,000. Point72 Asset Management L.P. purchased a new stake in BioLife Solutions during the 4th quarter worth approximately $11,113,000. Millennium Management LLC raised its position in shares of BioLife Solutions by 49.1% in the 4th quarter. Millennium Management LLC now owns 1,145,347 shares of the medical equipment provider’s stock valued at $29,733,000 after purchasing an additional 377,111 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of BioLife Solutions by 81.3% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 585,497 shares of the medical equipment provider’s stock valued at $14,661,000 after buying an additional 262,504 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

BioLife Solutions Price Performance

Shares of NASDAQ:BLFS opened at $28.32 on Wednesday. The company has a market cap of $1.31 billion, a P/E ratio of -26.72 and a beta of 1.91. The business has a fifty day simple moving average of $26.88 and a 200-day simple moving average of $25.41. BioLife Solutions has a 52 week low of $14.50 and a 52 week high of $29.55. The company has a quick ratio of 1.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.03.

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.