BioLife Solutions (NASDAQ:BLFS) Sets New 12-Month High – What’s Next?

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

Analyst Ratings Changes

A number of brokerages recently commented on BLFS. Craig Hallum boosted their price objective on shares of BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. HC Wainwright cut their target price on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, November 18th. 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. TD Cowen upped their target price on shares of BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Northland Securities upped their price target on BioLife Solutions from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $29.43.

BioLife Solutions Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. The stock has a fifty day simple moving average of $26.77 and a two-hundred day simple moving average of $24.97. The firm has a market capitalization of $1.34 billion, a P/E ratio of -27.30 and a beta of 1.92.

Insider Activity

In other BioLife Solutions news, CFO Troy Wichterman sold 987 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $27.02, for a total value of $26,668.74. Following the transaction, the chief financial officer now owns 121,779 shares of the company’s stock, valued at approximately $3,290,468.58. The trade was a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Aby J. Mathew sold 25,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $21.17, for a total value of $529,250.00. Following the sale, the executive vice president now directly owns 302,046 shares of the company’s stock, valued at approximately $6,394,313.82. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,278 shares of company stock worth $1,199,987 over the last quarter. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Several institutional investors have recently added to or reduced their stakes in BLFS. Mark Sheptoff Financial Planning LLC purchased a new stake in BioLife Solutions during the third quarter valued at about $28,000. Quest Partners LLC bought a new stake in shares of BioLife Solutions during the third quarter valued at about $57,000. GAMMA Investing LLC grew its stake in BioLife Solutions by 29.4% during the third quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock valued at $83,000 after acquiring an additional 748 shares in the last quarter. Summit Global Investments bought a new stake in BioLife Solutions during the 3rd quarter worth approximately $228,000. Finally, Marshall Wace LLP purchased a new stake in BioLife Solutions in the 2nd quarter worth approximately $229,000. 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.