BioLife Solutions (NASDAQ:BLFS) Shares Up 6.7% – Should You Buy?

BioLife Solutions, Inc. (NASDAQ:BLFS)’s stock price rose 6.7% during trading on Wednesday . The stock traded as high as $24.00 and last traded at $23.94. Approximately 487,316 shares changed hands during trading, an increase of 27% from the average daily volume of 382,923 shares. The stock had previously closed at $22.44.

Analyst Ratings Changes

Several analysts recently weighed in on BLFS shares. Northland Securities boosted their price objective on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. HC Wainwright reduced 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. TD Cowen raised their price objective on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Craig Hallum upped their target price on BioLife Solutions from $30.00 to $32.00 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 six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.50.

BioLife Solutions Trading Up 2.4 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78. The business has a 50 day moving average of $23.98 and a two-hundred day moving average of $22.90. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -24.39 and a beta of 1.88.

Insider Activity at BioLife Solutions

In related news, EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total transaction of $239,000.00. Following the completion of the sale, the executive vice president now owns 317,716 shares in the company, valued at approximately $7,593,412.40. This represents a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Garrie Richardson sold 3,070 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the completion of the sale, the executive now directly owns 114,773 shares of the company’s stock, valued at $2,883,097.76. The trade was a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,644 shares of company stock valued at $1,527,503. 2.20% of the stock is owned by company insiders.

Institutional Trading of BioLife Solutions

Several institutional investors have recently made changes to their positions in BLFS. Sequoia Financial Advisors LLC bought a new position in shares of BioLife Solutions in the second quarter valued at approximately $466,000. Vanguard Group Inc. grew its stake in BioLife Solutions by 11.5% in the 1st quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock valued at $53,208,000 after purchasing an additional 296,727 shares during the period. Isthmus Partners LLC increased its position in shares of BioLife Solutions by 34.4% during the 2nd 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 during the 2nd quarter valued at $8,592,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of BioLife Solutions by 261.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 127,215 shares of the medical equipment provider’s stock worth $2,726,000 after purchasing an additional 92,021 shares during the period. Institutional investors 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.