Northland Securities initiated coverage on shares of BioLife Solutions (NASDAQ:BLFS) in a research note released on Monday. The firm issued an outperform rating on the medical equipment provider’s stock.
Separately, Maxim Group upgraded shares of BioLife Solutions to a buy rating and set a $8.00 price target on the stock in a research report on Thursday, November 30th.
Shares of BioLife Solutions (NASDAQ BLFS) opened at $5.37 on Monday. The company has a market cap of $73.20, a price-to-earnings ratio of -25.57 and a beta of 0.38. BioLife Solutions has a 52-week low of $1.99 and a 52-week high of $7.53.
In related news, CEO Michael Rice sold 12,540 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $5.26, for a total transaction of $65,960.40. Following the sale, the chief executive officer now owns 152,057 shares in the company, valued at $799,819.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 36.80% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC grew its position in BioLife Solutions by 199.8% during the fourth quarter. Essex Investment Management Co. LLC now owns 254,096 shares of the medical equipment provider’s stock valued at $1,525,000 after buying an additional 169,341 shares during the period. Granite Investment Partners LLC acquired a new stake in shares of BioLife Solutions in the third quarter valued at about $1,205,000. Millennium Management LLC grew its position in shares of BioLife Solutions by 901.6% in the fourth quarter. Millennium Management LLC now owns 182,550 shares of the medical equipment provider’s stock valued at $1,095,000 after purchasing an additional 164,324 shares during the period. EAM Investors LLC acquired a new stake in shares of BioLife Solutions in the third quarter valued at about $555,000. Finally, Wells Fargo & Company MN acquired a new stake in shares of BioLife Solutions in the fourth quarter valued at about $111,000. Institutional investors own 12.19% of the company’s stock.
About BioLife Solutions
BioLife Solutions, Inc (BioLife) is engaged in the developing, manufacturing and marketing a portfolio of biopreservation tools and services for cells, tissues and organs, including clinical grade cell and tissue hypothermic storage and cryopreservation freeze media and a related cloud hosted biologistics cold chain management application for shippers.
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