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

BioLife Solutions, Inc. (NASDAQ:BLFS) has earned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $32.00.

A number of research analysts have recently commented on BLFS shares. HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of BioLife Solutions in a research report on Monday, December 29th. Wall Street Zen downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Zacks Research raised shares of BioLife Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Northland Securities set a $34.00 target price on BioLife Solutions in a research report on Monday, January 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BioLife Solutions in a research note on Wednesday, January 21st.

BioLife Solutions Stock Up 0.2%

NASDAQ BLFS opened at $24.98 on Wednesday. BioLife Solutions has a fifty-two week low of $19.10 and a fifty-two week high of $29.62. The business has a 50 day moving average price of $25.13 and a two-hundred day moving average price of $25.09. The stock has a market cap of $1.20 billion, a PE ratio of -356.81 and a beta of 1.93.

Insider Activity

In related news, CFO Troy Wichterman sold 30,000 shares of BioLife Solutions stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $25.72, for a total value of $771,600.00. Following the completion of the sale, the chief financial officer owned 152,769 shares in the company, valued at approximately $3,929,218.68. The trade was a 16.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy Duross sold 4,523 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $24.51, for a total transaction of $110,858.73. Following the completion of the sale, the director directly owned 25,687 shares in the company, valued at $629,588.37. This represents a 14.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In 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

Several large investors have recently modified their holdings of the stock. Invesco Ltd. raised its stake in BioLife Solutions by 0.5% during the third quarter. Invesco Ltd. now owns 3,599,444 shares of the medical equipment provider’s stock valued at $91,822,000 after buying an additional 18,666 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of BioLife Solutions by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,967,518 shares of the medical equipment provider’s stock valued at $75,701,000 after acquiring an additional 70,248 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of BioLife Solutions by 11.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,080,371 shares of the medical equipment provider’s stock valued at $23,271,000 after acquiring an additional 109,959 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in BioLife Solutions by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,003,383 shares of the medical equipment provider’s stock worth $25,592,000 after purchasing an additional 20,175 shares during the last quarter. Finally, Geode Capital Management LLC boosted 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 worth $19,842,000 after purchasing an additional 33,849 shares during the period. Institutional investors own 93.24% of the company’s stock.

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.