BioLife Solutions (NASDAQ:BLFS) Hits New 12-Month High – Still a Buy?

BioLife Solutions, Inc. (NASDAQ:BLFS) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $29.20 and last traded at $29.41, with a volume of 53564 shares trading hands. The stock had previously closed at $28.28.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BLFS shares. TD Cowen lifted their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. KeyCorp boosted their price objective on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. HC Wainwright cut their target price on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, November 18th. Northland Securities lifted their price target on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Finally, Benchmark restated a “buy” rating and issued a $30.00 price objective on shares of BioLife Solutions in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.43.

BioLife Solutions Stock Up 2.5 %

The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.34 billion, a P/E ratio of -27.30 and a beta of 1.92. The firm’s fifty day moving average is $26.58 and its 200-day moving average is $24.89.

Insider Transactions at BioLife Solutions

In other news, CEO Greef Roderick De sold 46,896 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $23.43, for a total transaction of $1,098,773.28. Following the completion of the sale, the chief executive officer now owns 414,958 shares in the company, valued at $9,722,465.94. The trade was a 10.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Aby J. Mathew sold 17,604 shares of the firm’s stock in a transaction dated 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. This represents a 5.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,129 shares of company stock valued at $2,344,018 in the last three months. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. State Street Corp lifted its holdings in BioLife Solutions by 7.3% in the third quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock valued at $35,364,000 after buying an additional 95,788 shares during the period. Geode Capital Management LLC lifted its stake 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 valued at $21,107,000 after purchasing an additional 18,473 shares during the period. 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. Rockefeller Capital Management L.P. grew its stake in shares of BioLife Solutions by 81.3% during the third quarter. Rockefeller Capital Management L.P. now owns 585,497 shares of the medical equipment provider’s stock worth $14,661,000 after purchasing an additional 262,504 shares during the period. Finally, Curi RMB Capital LLC increased its holdings in BioLife Solutions by 0.5% in the third quarter. Curi RMB Capital LLC now owns 421,933 shares of the medical equipment provider’s stock valued at $10,565,000 after purchasing an additional 2,283 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

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.