Brokerages Set BioLife Solutions, Inc. (NASDAQ:BLFS) Price Target at $32.00

BioLife Solutions, Inc. (NASDAQ:BLFS) has received an average rating of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $32.00.

BLFS has been the subject of a number of recent research reports. UBS Group reissued a “buy” rating on shares of BioLife Solutions in a research note on Monday, December 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BioLife Solutions in a research report on Wednesday, January 21st. Wall Street Zen lowered BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Northland Securities set a $34.00 target price on shares of BioLife Solutions in a report on Monday, January 5th. Finally, Zacks Research raised BioLife Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd.

BioLife Solutions Trading Down 1.0%

Shares of NASDAQ:BLFS opened at $22.65 on Friday. BioLife Solutions has a 1-year low of $19.10 and a 1-year high of $29.62. The stock has a market capitalization of $1.09 billion, a P/E ratio of -323.53 and a beta of 1.92. The business has a 50-day moving average price of $23.95 and a two-hundred day moving average price of $25.23.

Insider Activity

In related news, Director Amy Duross sold 2,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $24.60, for a total transaction of $49,200.00. Following the completion of the transaction, the director directly owned 18,687 shares of the company’s stock, valued at approximately $459,700.20. This represents a 9.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Troy Wichterman sold 990 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $25.59, for a total value of $25,334.10. Following the completion of the transaction, the chief financial officer directly owned 150,746 shares in the company, valued at $3,857,590.14. The trade was a 0.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 37,802 shares of company stock worth $967,191 over the last three months. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its holdings in shares of BioLife Solutions by 27.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,180,824 shares of the medical equipment provider’s stock worth $125,273,000 after purchasing an additional 1,113,972 shares during the period. Capricorn Fund Managers Ltd bought a new stake in shares of BioLife Solutions in the fourth quarter valued at approximately $9,153,000. Invesco Ltd. grew its position in BioLife Solutions by 9.2% during the fourth quarter. Invesco Ltd. now owns 3,932,191 shares of the medical equipment provider’s stock worth $95,080,000 after buying an additional 332,747 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in BioLife Solutions by 2,399.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 248,474 shares of the medical equipment provider’s stock worth $5,352,000 after acquiring an additional 238,533 shares during the period. Finally, Heights Point Management LP bought a new position in BioLife Solutions during the 4th quarter worth $5,260,000. Institutional investors and hedge funds 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.