BioLife Solutions (NASDAQ:BLFS) Sets New 1-Year High – Here’s Why

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BLFS shares. KeyCorp raised their price target on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Craig Hallum raised their target price on shares of BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of BioLife Solutions in a research note on Thursday, December 19th. Northland Securities raised their price objective on shares of BioLife Solutions from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Finally, TD Cowen upped 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. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.43.

BioLife Solutions Price Performance

The company has a market cap of $1.34 billion, a price-to-earnings ratio of -27.30 and a beta of 1.92. 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 business has a 50-day moving average price of $26.58 and a 200 day moving average price of $24.89.

Insider Transactions at BioLife Solutions

In other BioLife Solutions news, CFO Troy Wichterman sold 987 shares of BioLife Solutions stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $27.02, for a total transaction of $26,668.74. Following the transaction, the chief financial officer now owns 121,779 shares of the company’s stock, valued at $3,290,468.58. The trade was a 0.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Aby J. Mathew sold 7,604 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $27.33, for a total transaction of $207,817.32. Following the completion of the sale, the executive vice president now directly owns 276,315 shares of the company’s stock, valued at $7,551,688.95. This trade represents a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,129 shares of company stock valued at $2,344,018 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

Institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. raised its position in shares of BioLife Solutions by 81.3% in the third quarter. Rockefeller Capital Management L.P. now owns 585,497 shares of the medical equipment provider’s stock valued at $14,661,000 after purchasing an additional 262,504 shares during the period. State Street Corp lifted its position in BioLife Solutions by 7.3% during the 3rd quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock worth $35,364,000 after acquiring an additional 95,788 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in 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 acquiring an additional 92,021 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of BioLife Solutions by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 794,971 shares of the medical equipment provider’s stock valued at $17,034,000 after purchasing an additional 66,422 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of BioLife Solutions by 100.1% in the second quarter. Sei Investments Co. now owns 120,418 shares of the medical equipment provider’s stock valued at $2,581,000 after purchasing an additional 60,227 shares during the last quarter. Institutional investors and hedge funds 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.