BioLife Solutions (NASDAQ:BLFS) Reaches New 1-Year High - What's Next?

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $27.37 and last traded at $27.14, with a volume of 42325 shares changing hands. The stock had previously closed at $26.60.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, July 17th. Northland Securities upped their target price on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an "outperform" rating in a report on Friday, August 9th. Craig Hallum upped their target price on shares of BioLife Solutions from $23.00 to $30.00 and gave the company a "buy" rating in a report on Monday, August 12th. Finally, HC Wainwright initiated coverage on shares of BioLife Solutions in a report on Monday, September 30th. They issued a "buy" rating and a $29.00 target price for the company. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $26.67.

BioLife Solutions Stock Performance

The firm's 50-day moving average is $24.08 and its 200 day moving average is $22.66. The stock has a market cap of $1.24 billion, a PE ratio of -15.74 and a beta of 1.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.81 and a current ratio of 2.86.

Insiders Place Their Bets

In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the company's stock in a transaction on Monday, September 16th. The shares were 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 in the company, valued at approximately $2,883,097.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the completion of the transaction, the executive vice president now owns 317,716 shares in the company, valued at $7,593,412.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,044 shares of company stock worth $645,105. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On BioLife Solutions

A number of large investors have recently made changes to their positions in BLFS. Mutual of America Capital Management LLC purchased a new position in shares of BioLife Solutions in the 2nd quarter valued at about $8,592,000. Vanguard Group Inc. grew its stake in BioLife Solutions by 11.5% in the 1st quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider's stock valued at $53,208,000 after acquiring an additional 296,727 shares during the last quarter. Raymond James & Associates acquired a new stake in BioLife Solutions in the 2nd quarter valued at about $2,876,000. Envestnet Asset Management Inc. grew its stake in BioLife Solutions by 261.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 127,215 shares of the medical equipment provider's stock valued at $2,726,000 after acquiring an additional 92,021 shares during the last quarter. Finally, Fred Alger Management LLC grew its stake in BioLife Solutions by 6.0% in the 2nd quarter. Fred Alger Management LLC now owns 1,579,138 shares of the medical equipment provider's stock valued at $33,841,000 after acquiring an additional 88,840 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

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.

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