Craig Hallum Issues Positive Forecast for BioLife Solutions (NASDAQ:BLFS) Stock Price

BioLife Solutions (NASDAQ:BLFS) had its price target hoisted by Craig Hallum from $30.00 to $32.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.

Several other equities research analysts have also commented on the company. TD Cowen upped their price objective on BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. HC Wainwright assumed coverage on shares of BioLife Solutions in a report on Monday, September 30th. They set a “buy” rating and a $29.00 price target on the stock. Finally, Northland Securities raised their price target on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, BioLife Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.83.

BioLife Solutions Stock Performance

Shares of BLFS stock traded down $1.08 on Wednesday, hitting $23.03. The company had a trading volume of 22,793 shares, compared to its average volume of 373,830. BioLife Solutions has a twelve month low of $11.40 and a twelve month high of $28.88. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.06 billion, a P/E ratio of -22.75 and a beta of 1.88. The company has a 50-day moving average price of $24.11 and a 200-day moving average price of $22.73.

Insider Activity

In related news, EVP Aby J. Mathew sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $23.28, for a total value of $232,800.00. Following the completion of the sale, the executive vice president now owns 317,716 shares of the company’s stock, valued at approximately $7,396,428.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.12, for a total transaction of $77,118.40. Following the completion of the transaction, the executive now owns 114,773 shares of the company’s stock, valued at $2,883,097.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $23.28, for a total value of $232,800.00. Following the completion of the sale, the executive vice president now directly owns 317,716 shares in the company, valued at $7,396,428.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,044 shares of company stock worth $645,105 in the last quarter. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of BioLife Solutions by 470.6% in the third quarter. FMR LLC now owns 13,317 shares of the medical equipment provider’s stock valued at $333,000 after buying an additional 10,983 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in BioLife Solutions during the 3rd quarter valued at about $1,018,000. The Manufacturers Life Insurance Company grew its stake in BioLife Solutions by 40.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,463 shares of the medical equipment provider’s stock valued at $487,000 after acquiring an additional 5,638 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new stake in BioLife Solutions in the 3rd quarter valued at about $467,000. Finally, Cerity Partners LLC lifted its stake in BioLife Solutions by 6.6% in the 3rd quarter. Cerity Partners LLC now owns 44,914 shares of the medical equipment provider’s stock worth $1,125,000 after purchasing an additional 2,776 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.