HC Wainwright Reaffirms Buy Rating for BioLife Solutions (NASDAQ:BLFS)

BioLife Solutions (NASDAQ:BLFS)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued to clients and investors on Monday, MarketBeat reports. They currently have a $32.00 price target on the medical equipment provider’s stock. HC Wainwright’s target price indicates a potential upside of 29.76% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of BioLife Solutions in a research note on Wednesday, October 8th. Wall Street Zen downgraded BioLife Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Finally, Zacks Research cut BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, BioLife Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

BioLife Solutions Trading Down 1.8%

BioLife Solutions stock opened at $24.66 on Monday. The business’s 50 day simple moving average is $25.90 and its 200 day simple moving average is $24.69. BioLife Solutions has a 12 month low of $19.10 and a 12 month high of $29.62. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -352.24 and a beta of 1.93.

Insider Transactions at BioLife Solutions

In related news, Director Joydeep Goswami sold 1,666 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $28.99, for a total value of $48,297.34. Following the sale, the director owned 44,986 shares in the company, valued at approximately $1,304,144.14. This trade represents a 3.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Casdin Partners Master Fund, L sold 750,000 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $28.55, for a total value of $21,412,500.00. Following the transaction, the insider owned 5,957,165 shares of the company’s stock, valued at approximately $170,077,060.75. The trade was a 11.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 937,664 shares of company stock valued at $26,311,309. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tudor Investment Corp ET AL grew its stake in BioLife Solutions by 85.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 111,356 shares of the medical equipment provider’s stock worth $2,841,000 after buying an additional 51,217 shares in the last quarter. Connors Investor Services Inc. purchased a new position in BioLife Solutions in the third quarter worth $224,000. CIBC Bancorp USA Inc. purchased a new position in BioLife Solutions in the third quarter worth $1,064,000. PharVision Advisers LLC bought a new position in BioLife Solutions in the third quarter valued at $316,000. Finally, Quarry LP raised its position in BioLife Solutions by 50.9% during the third 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 in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

BioLife Solutions Company Profile

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.