BioLife Solutions (NASDAQ:BLFS) Trading Up 4.2% – Still a Buy?

BioLife Solutions, Inc. (NASDAQ:BLFS)’s stock price was up 4.2% during mid-day trading on Thursday . The company traded as high as $27.49 and last traded at $27.42. Approximately 111,581 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 383,155 shares. The stock had previously closed at $26.32.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Craig Hallum increased their price target on BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. TD Cowen increased their price target on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. HC Wainwright dropped their target price on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Finally, KeyCorp upped their price objective on BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $28.29.

BioLife Solutions Stock Down 0.1 %

The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -25.19 and a beta of 1.91. The firm has a 50 day moving average price of $24.62 and a 200-day moving average price of $23.55. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Insider Transactions at BioLife Solutions

In other BioLife Solutions news, EVP Aby J. Mathew sold 25,000 shares of BioLife Solutions stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $21.17, for a total value of $529,250.00. Following the completion of the sale, the executive vice president now directly owns 302,046 shares of the company’s stock, valued at approximately $6,394,313.82. The trade was a 7.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Garrie Richardson sold 3,070 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the transaction, the executive now directly owns 114,773 shares in the company, valued at approximately $2,883,097.76. This represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,313 shares of company stock valued at $1,572,899 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Institutional investors have recently added to or reduced their stakes in the business. Stifel Financial Corp boosted its holdings in BioLife Solutions by 5.4% in the third quarter. Stifel Financial Corp now owns 12,988 shares of the medical equipment provider’s stock valued at $325,000 after acquiring an additional 670 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of BioLife Solutions by 4.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the medical equipment provider’s stock valued at $392,000 after purchasing an additional 700 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of BioLife Solutions by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after purchasing an additional 748 shares during the period. The Manufacturers Life Insurance Company increased its position in BioLife Solutions by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock worth $296,000 after purchasing an additional 753 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in BioLife Solutions in the third quarter valued at approximately $28,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.