BioLife Solutions (NASDAQ:BLFS) Stock Price Expected to Rise, KeyCorp Analyst Says

BioLife Solutions (NASDAQ:BLFS) had its target price raised by equities research analysts at KeyCorp from $30.00 to $33.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. KeyCorp’s price target points to a potential upside of 23.60% from the stock’s previous close.

Several other equities research analysts have also recently commented on the stock. HC Wainwright cut 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 report on Monday, November 18th. TD Cowen boosted their price target on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Craig Hallum boosted their price target 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 investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.29.

BioLife Solutions Stock Performance

Shares of BioLife Solutions stock opened at $26.70 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. The firm has a market cap of $1.24 billion, a P/E ratio of -25.19 and a beta of 1.91. The firm has a 50 day simple moving average of $24.62 and a 200 day simple moving average of $23.56. BioLife Solutions has a fifty-two week low of $13.99 and a fifty-two week high of $28.88.

Insider Buying and Selling at BioLife Solutions

In related news, EVP Aby J. Mathew sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total transaction of $239,000.00. Following the transaction, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at $7,593,412.40. This trade represents a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Garrie Richardson sold 3,070 shares of the firm’s 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 transaction, the executive now directly owns 114,773 shares in the company, valued at $2,883,097.76. The trade was a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,313 shares of company stock valued at $1,572,899. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLFS. Barclays PLC increased its holdings in shares of BioLife Solutions by 20.1% in the 3rd quarter. Barclays PLC now owns 64,423 shares of the medical equipment provider’s stock worth $1,613,000 after buying an additional 10,803 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of BioLife Solutions by 2.2% in the 3rd 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 in the last quarter. State Street Corp boosted its stake in shares of BioLife Solutions by 7.3% in the 3rd 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 in the last quarter. Stifel Financial Corp boosted its stake in shares of BioLife Solutions by 5.4% in the 3rd quarter. Stifel Financial Corp now owns 12,988 shares of the medical equipment provider’s stock valued at $325,000 after purchasing an additional 670 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in BioLife Solutions during the 3rd quarter valued at $28,000. 93.24% of the stock is currently 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.