BioLife Solutions, Inc. (NASDAQ:BLFS) Receives $32.00 Consensus Target Price from Brokerages

BioLife Solutions, Inc. (NASDAQ:BLFS) has earned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $32.00.

A number of equities research analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $32.00 price objective on shares of BioLife Solutions in a research report on Monday, December 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioLife Solutions in a research note on Wednesday, January 21st. UBS Group reissued a “buy” rating on shares of BioLife Solutions in a research report on Monday, December 29th. Zacks Research raised shares of BioLife Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Finally, Northland Securities set a $34.00 price target on shares of BioLife Solutions in a research note on Monday, January 5th.

BioLife Solutions Stock Down 3.5%

Shares of BLFS opened at $21.80 on Wednesday. The stock has a market capitalization of $1.05 billion, a P/E ratio of -311.38 and a beta of 1.93. BioLife Solutions has a twelve month low of $19.10 and a twelve month high of $29.62. The firm has a fifty day simple moving average of $24.97 and a two-hundred day simple moving average of $25.06.

Insider Activity

In related news, CFO Troy Wichterman sold 30,000 shares of BioLife Solutions 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy Duross sold 4,523 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $24.51, for a total value of $110,858.73. Following the completion of the sale, the director directly owned 25,687 shares in the company, valued at approximately $629,588.37. The trade was a 14.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 148,005 shares of company stock worth $3,809,067 in the last quarter. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioLife Solutions

Several hedge funds have recently bought and sold shares of the business. Invesco Ltd. increased its stake in shares of 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 purchasing an additional 18,666 shares in the last quarter. Vanguard Group Inc. increased its position in BioLife Solutions by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 3,087,386 shares of the medical equipment provider’s stock valued at $74,653,000 after buying an additional 119,868 shares in the last quarter. Ameriprise Financial Inc. increased its position in 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 buying an additional 109,959 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in BioLife Solutions by 2.1% in 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 acquiring an additional 20,175 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 33,849 shares during the last quarter. 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.