BioLife Solutions, Inc. (NASDAQ:BLFS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

BioLife Solutions, Inc. (NASDAQ:BLFS) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $31.20.

A number of research firms recently weighed in on BLFS. Zacks Research upgraded BioLife Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of BioLife Solutions in a research report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of BioLife Solutions in a report on Monday, November 24th. Finally, Wall Street Zen lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th.

BioLife Solutions Stock Performance

Shares of NASDAQ:BLFS opened at $24.95 on Tuesday. The company has a market capitalization of $1.20 billion, a PE ratio of -356.38 and a beta of 1.93. The stock has a fifty day moving average of $26.56 and a 200-day moving average of $24.40. BioLife Solutions has a one year low of $19.10 and a one year high of $29.62.

Insider Activity at BioLife Solutions

In other news, Director Joydeep Goswami sold 1,666 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $28.99, for a total transaction of $48,297.34. Following the completion of the sale, the director directly owned 44,986 shares of the company’s stock, valued at $1,304,144.14. This trade represents a 3.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Greef Roderick De sold 37,795 shares of BioLife Solutions stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $27.30, for a total value of $1,031,803.50. Following the sale, the chief executive officer owned 489,998 shares of the company’s stock, valued at approximately $13,376,945.40. This represents a 7.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 935,727 shares of company stock worth $26,269,334. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLFS. State of Wyoming grew its holdings in BioLife Solutions by 353.1% in the 1st quarter. State of Wyoming now owns 1,912 shares of the medical equipment provider’s stock valued at $44,000 after buying an additional 1,490 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of BioLife Solutions by 54.1% in the third quarter. Hantz Financial Services Inc. now owns 1,877 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 659 shares during the last quarter. US Bancorp DE increased its position in BioLife Solutions by 243.7% during the first quarter. US Bancorp DE now owns 2,155 shares of the medical equipment provider’s stock worth $49,000 after acquiring an additional 1,528 shares during the period. Quarry LP raised its stake in BioLife Solutions by 50.9% during the 3rd quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock valued at $54,000 after purchasing an additional 713 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in BioLife Solutions by 12.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,873 shares of the medical equipment provider’s stock valued at $83,000 after purchasing an additional 441 shares during the period. Institutional investors 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.