BioLife Solutions (NASDAQ:BLFS) Receives Buy Rating from HC Wainwright

by · The Cerbat Gem

BioLife Solutions (NASDAQ:BLFS – Get Free Report)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They currently have a $32.00 price objective on the medical equipment provider’s stock. HC Wainwright’s target price points to a potential upside of 28.51% from the company’s current price.

A number of other equities analysts also recently commented on the company. Wall Street Zen downgraded BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Weiss Ratings restated a “sell (d-)” rating on shares of BioLife Solutions in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, BioLife Solutions presently has a consensus rating of “Hold” and a consensus target price of $31.00.

Read Our Latest Analysis on BioLife Solutions

BioLife Solutions Stock Performance

BioLife Solutions stock opened at $24.90 on Monday. BioLife Solutions has a 1 year low of $19.10 and a 1 year high of $29.62. The firm’s 50-day moving average is $26.01 and its 200-day moving average is $24.66. The company has a market cap of $1.20 billion, a P/E ratio of -355.66 and a beta of 1.93.

Insider Activity at BioLife Solutions

In other news, CEO Greef Roderick De sold 37,795 shares of the stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $27.30, for a total value of $1,031,803.50. Following the completion of the transaction, the chief executive officer owned 489,998 shares of the company’s stock, valued at approximately $13,376,945.40. This represents a 7.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Casdin Partners Master Fund, L sold 750,000 shares of the company’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $28.55, for a total transaction of $21,412,500.00. Following the completion of the sale, the insider directly owned 5,957,165 shares of the company’s stock, valued at $170,077,060.75. The trade was a 11.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 937,664 shares of company stock worth $26,311,309 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of BioLife Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of BLFS. Invesco Ltd. lifted its stake in BioLife Solutions by 0.5% during the third quarter. Invesco Ltd. now owns 3,599,444 shares of the medical equipment provider’s stock valued at $91,822,000 after purchasing an additional 18,666 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of BioLife Solutions by 2.4% in the third quarter. Vanguard Group Inc. now owns 2,967,518 shares of the medical equipment provider’s stock valued at $75,701,000 after buying an additional 70,248 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of BioLife Solutions by 11.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,080,371 shares of the medical equipment provider’s stock valued at $23,271,000 after acquiring an additional 109,959 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of BioLife Solutions by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,003,383 shares of the medical equipment provider’s stock worth $25,592,000 after acquiring an additional 20,175 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of BioLife Solutions by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 921,105 shares of the medical equipment provider’s stock worth $19,842,000 after acquiring an additional 33,849 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

About BioLife Solutions

(Get Free Report)

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.

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