BioLife Solutions (NASDAQ:BLFS) Trading Up 6.7% – Here’s What Happened

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

Analysts Set New Price Targets

Several research firms have issued reports on BLFS. TD Cowen increased 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. 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. HC Wainwright cut their price target on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a report on Monday. Finally, Northland Securities boosted their target price 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. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $27.50.

BioLife Solutions Stock Up 11.5 %

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 company has a market cap of $1.16 billion, a price-to-earnings ratio of -22.95 and a beta of 1.88. The firm’s fifty day moving average price is $23.92 and its 200-day moving average price is $22.87.

Insider Transactions at BioLife Solutions

In other BioLife Solutions news, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total value 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 trade represents a 3.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.12, for a total transaction of $77,118.40. Following the completion of the sale, the executive now owns 114,773 shares in the company, valued at approximately $2,883,097.76. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,644 shares of company stock valued at $1,527,503 in the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of BioLife Solutions

Large investors have recently added to or reduced their stakes in the company. Swiss National Bank increased its position in shares of BioLife Solutions by 3.6% during the first quarter. Swiss National Bank now owns 71,100 shares of the medical equipment provider’s stock worth $1,319,000 after purchasing an additional 2,500 shares in the last quarter. Sei Investments Co. grew its stake in shares of BioLife Solutions by 1.4% in the first quarter. Sei Investments Co. now owns 60,191 shares of the medical equipment provider’s stock valued at $1,117,000 after buying an additional 839 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in BioLife Solutions by 6.1% during the 1st quarter. Russell Investments Group Ltd. now owns 194,126 shares of the medical equipment provider’s stock worth $3,601,000 after acquiring an additional 11,076 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in BioLife Solutions during the 1st quarter worth approximately $229,000. Finally, Vanguard Group Inc. boosted its holdings 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 in 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.