BioLife Solutions (NASDAQ:BLFS) Sets New 12-Month High - Here's What Happened

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $29.20 and last traded at $29.41, with a volume of 53564 shares trading hands. The stock had previously closed at $28.28.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BLFS shares. HC Wainwright dropped their price objective on BioLife Solutions from $29.00 to $27.00 and set a "buy" rating on the stock in a report on Monday, November 18th. Benchmark restated a "buy" rating and set a $30.00 price objective on shares of BioLife Solutions in a research note on Thursday, December 19th. KeyCorp lifted their target price on BioLife Solutions from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Craig Hallum raised their price objective on BioLife Solutions from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Finally, TD Cowen lifted their price objective on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.43.

BioLife Solutions Stock Down 1.0 %

The company has a quick ratio of 1.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.03. The firm's 50-day moving average price is $26.81 and its 200 day moving average price is $24.99. The firm has a market cap of $1.27 billion, a P/E ratio of -25.94 and a beta of 1.92.

Insider Transactions at BioLife Solutions

In other BioLife Solutions news, CFO Troy Wichterman sold 987 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $27.02, for a total transaction of $26,668.74. Following the completion of the transaction, the chief financial officer now directly owns 121,779 shares of the company's stock, valued at approximately $3,290,468.58. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Aby J. Mathew sold 17,604 shares of the business's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $20.05, for a total transaction of $352,960.20. Following the completion of the sale, the executive vice president now owns 284,442 shares in the company, valued at approximately $5,703,062.10. This trade represents a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,278 shares of company stock worth $1,199,987. Company insiders own 2.20% of the company's stock.

Institutional Trading of BioLife Solutions

Hedge funds have recently bought and sold shares of the company. State Street Corp lifted 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 worth $35,364,000 after purchasing an additional 95,788 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of BioLife Solutions by 2.2% during the third quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider's stock worth $21,107,000 after acquiring an additional 18,473 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in BioLife Solutions by 9.1% in 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 last quarter. Rockefeller Capital Management L.P. raised its position in BioLife Solutions by 81.3% during the third quarter. Rockefeller Capital Management L.P. now owns 585,497 shares of the medical equipment provider's stock valued at $14,661,000 after acquiring an additional 262,504 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in BioLife Solutions by 16.7% in the fourth quarter. Stephens Investment Management Group LLC now owns 495,970 shares of the medical equipment provider's stock valued at $12,875,000 after acquiring an additional 70,875 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.