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

BioLife Solutions (NASDAQ:BLFS) had its target price increased by analysts at KeyCorp from $30.00 to $33.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the medical equipment provider’s stock. KeyCorp’s price objective suggests a potential upside of 21.77% from the stock’s current price.

BLFS has been the topic of several other reports. TD Cowen lifted their target price on BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. HC Wainwright dropped their price objective on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Finally, Craig Hallum upped their price objective on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.29.

BioLife Solutions Stock Performance

BLFS stock traded up $0.38 on Friday, hitting $27.10. The company’s stock had a trading volume of 21,295 shares, compared to its average volume of 382,270. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -25.57 and a beta of 1.91. The firm has a 50 day moving average of $24.58 and a two-hundred day moving average of $23.51. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. BioLife Solutions has a 1 year low of $13.99 and a 1 year high of $28.88.

Insider Activity

In related news, CRO Garrie Richardson sold 3,070 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the sale, the executive now directly owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. This represents a 2.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $23.28, for a total transaction 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 trade represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,313 shares of company stock worth $1,572,899 in the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BioLife Solutions

Institutional investors have recently made changes to their positions in the stock. Fred Alger Management LLC boosted its position in BioLife Solutions by 6.0% during the second quarter. Fred Alger Management LLC now owns 1,579,138 shares of the medical equipment provider’s stock worth $33,841,000 after acquiring an additional 88,840 shares during the last quarter. State Street Corp grew its position in shares of BioLife Solutions by 7.3% in the third quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock valued at $35,364,000 after purchasing an additional 95,788 shares during the period. Geode Capital Management LLC increased its stake in BioLife Solutions by 2.2% in the third quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider’s stock valued at $21,107,000 after purchasing an additional 18,473 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in BioLife Solutions by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 794,971 shares of the medical equipment provider’s stock worth $17,034,000 after buying an additional 66,422 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its stake in BioLife Solutions by 81.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 585,497 shares of the medical equipment provider’s stock worth $14,661,000 after buying an additional 262,504 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

About BioLife Solutions

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.