BioLife Solutions, Inc. (NASDAQ:BLFS) Receives $32.00 Consensus PT from Analysts

BioLife Solutions, Inc. (NASDAQ:BLFS) has earned a consensus rating of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $32.00.

Several research analysts have commented on BLFS shares. Northland Securities set a $34.00 target price on BioLife Solutions in a research note on Monday, January 5th. HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of BioLife Solutions in a research report on Monday, December 29th. UBS Group reissued a “buy” rating on shares of BioLife Solutions in a research note on Monday, December 29th. Wall Street Zen cut shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BioLife Solutions in a research note on Wednesday, January 21st.

Insider Buying and Selling at BioLife Solutions

In related news, CEO Greef Roderick De sold 35,417 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $26.15, for a total value of $926,154.55. Following the completion of the transaction, the chief executive officer owned 454,581 shares in the company, valued at $11,887,293.15. This trade represents a 7.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Troy Wichterman sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $25.72, for a total transaction of $771,600.00. Following the sale, the chief financial officer directly owned 152,769 shares in the company, valued at $3,929,218.68. The trade was a 16.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 148,005 shares of company stock worth $3,809,067. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BioLife Solutions

A number of hedge funds have recently modified their holdings of BLFS. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in BioLife Solutions during the 2nd quarter worth approximately $205,000. Forum Private Client Group LLC acquired a new stake in shares of BioLife Solutions during the second quarter worth $232,000. State of Alaska Department of Revenue raised its stake in BioLife Solutions by 10.2% during the second quarter. State of Alaska Department of Revenue now owns 22,096 shares of the medical equipment provider’s stock worth $475,000 after buying an additional 2,048 shares during the last quarter. Geode Capital Management LLC lifted its holdings in BioLife Solutions by 3.8% in the second quarter. Geode Capital Management LLC now owns 921,105 shares of the medical equipment provider’s stock valued at $19,842,000 after buying an additional 33,849 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in BioLife Solutions during the second quarter valued at $286,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

BioLife Solutions Price Performance

Shares of BLFS opened at $21.80 on Wednesday. The firm has a 50 day simple moving average of $24.97 and a two-hundred day simple moving average of $25.11. BioLife Solutions has a one year low of $19.10 and a one year high of $29.62. The company has a market cap of $1.05 billion, a P/E ratio of -311.38 and a beta of 1.92.

About BioLife Solutions

BioLife Solutions (NASDAQ:BLFS) specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife’s product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company’s flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.