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

BioLife Solutions, Inc. (NASDAQ:BLFS) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat.com reports. One research 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 target among brokers that have issued a report on the stock in the last year is $32.00.

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of BioLife Solutions in a research report on Wednesday, January 21st. Zacks Research upgraded shares of BioLife Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Wall Street Zen raised shares of BioLife Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of BioLife Solutions in a research report on Monday, December 29th. Finally, UBS Group reissued a “buy” rating on shares of BioLife Solutions in a research note on Monday, December 29th.

Insiders Place Their Bets

In related news, insider Karen A. Foster sold 96,923 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $20.15, for a total transaction of $1,952,998.45. Following the transaction, the insider directly owned 113,742 shares of the company’s stock, valued at approximately $2,291,901.30. The trade was a 46.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Troy Wichterman sold 990 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $25.59, for a total value of $25,334.10. Following the completion of the sale, the chief financial officer directly owned 150,746 shares of the company’s stock, valued at approximately $3,857,590.14. This represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 101,956 shares of company stock worth $2,068,241 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of BioLife Solutions

Hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. boosted 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 acquired a new position in BioLife Solutions in the 4th quarter valued at approximately $9,153,000. Invesco Ltd. increased its stake in BioLife Solutions by 9.2% in the 4th quarter. Invesco Ltd. now owns 3,932,191 shares of the medical equipment provider’s stock valued at $95,080,000 after buying an additional 332,747 shares during the period. Qube Research & Technologies Ltd lifted its position in BioLife Solutions by 2,399.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 248,474 shares of the medical equipment provider’s stock worth $5,352,000 after buying an additional 238,533 shares in the last quarter. Finally, Heights Point Management LP purchased a new stake in BioLife Solutions in the 4th quarter worth approximately $5,260,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

BioLife Solutions Trading Up 0.8%

NASDAQ BLFS opened at $19.86 on Thursday. The stock’s 50-day moving average price is $21.92 and its two-hundred day moving average price is $24.50. The company has a market cap of $959.24 million, a PE ratio of -180.53 and a beta of 1.90. BioLife Solutions has a 1 year low of $17.86 and a 1 year high of $29.62.

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.