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

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. HC Wainwright reduced their target price on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Monday. Northland Securities increased their price objective on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Craig Hallum boosted their target price on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, TD Cowen upped their price target on BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.50.

BioLife Solutions Stock Up 2.4 %

The company has a market cap of $1.21 billion, a PE ratio of -24.39 and a beta of 1.88. The stock has a 50-day moving average of $23.98 and a 200-day moving average of $22.90. The company has a quick ratio of 1.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.03.

Insider Transactions at BioLife Solutions

In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions 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 of the company’s stock, valued at $2,883,097.76. The trade was a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Aby J. Mathew sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the transaction, the executive vice president now directly owns 317,716 shares in the company, valued at approximately $7,593,412.40. This represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,644 shares of company stock valued at $1,527,503. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BioLife Solutions

Institutional investors have recently made changes to their positions in the business. Swiss National Bank lifted its position in BioLife Solutions by 3.6% in the first quarter. Swiss National Bank now owns 71,100 shares of the medical equipment provider’s stock valued at $1,319,000 after purchasing an additional 2,500 shares during the last quarter. Sei Investments Co. increased its position 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 acquiring an additional 839 shares during the period. Russell Investments Group Ltd. raised its stake in shares of BioLife Solutions by 6.1% during the first quarter. Russell Investments Group Ltd. now owns 194,126 shares of the medical equipment provider’s stock valued at $3,601,000 after acquiring an additional 11,076 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in shares of BioLife Solutions during the first quarter worth about $229,000. Finally, Vanguard Group Inc. increased its holdings in BioLife Solutions by 11.5% during 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 during the period. Hedge funds and other 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.