BioLife Solutions (NASDAQ:BLFS) Reaches New 12-Month High – Still a Buy?

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $29.20 and last traded at $29.41, with a volume of 53564 shares traded. The stock had previously closed at $28.28.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Northland Securities upped their target price on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. KeyCorp lifted their price objective on BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Craig Hallum raised their price target on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. HC Wainwright lowered 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 note on Monday, November 18th. Finally, Benchmark restated a “buy” rating and set a $30.00 target price on shares of BioLife Solutions in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.43.

BioLife Solutions Stock Up 2.2 %

The firm has a 50 day moving average price of $26.77 and a two-hundred day moving average price of $24.97. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -27.30 and a beta of 1.92. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Insider Buying and Selling

In other BioLife Solutions news, CFO Troy Wichterman sold 987 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $27.02, for a total value of $26,668.74. Following the transaction, the chief financial officer now directly owns 121,779 shares of the company’s stock, valued at $3,290,468.58. This represents a 0.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Aby J. Mathew sold 25,000 shares of BioLife Solutions stock in a transaction on Friday, November 15th. The stock was sold at an average price of $21.17, for a total transaction of $529,250.00. Following the completion of the sale, the executive vice president now owns 302,046 shares of the company’s stock, valued at approximately $6,394,313.82. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,278 shares of company stock valued at $1,199,987 in the last quarter. Company insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

A number of large investors have recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC acquired a new position in shares of BioLife Solutions during the third quarter worth approximately $28,000. Quest Partners LLC bought a new stake in shares of BioLife Solutions during the 3rd quarter worth about $57,000. GAMMA Investing LLC lifted its stake in shares of BioLife Solutions by 29.4% in the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after acquiring an additional 748 shares during the period. Summit Global Investments bought a new position in shares of BioLife Solutions in the third quarter valued at approximately $228,000. Finally, Intech Investment Management LLC acquired a new position in shares of BioLife Solutions during the third quarter valued at approximately $255,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

BioLife Solutions Company Profile

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.