Northland Securities Issues Positive Forecast for BioLife Solutions (NASDAQ:BLFS) Stock Price

BioLife Solutions (NASDAQ:BLFS) had its price objective hoisted by analysts at Northland Securities from $28.00 to $31.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Northland Securities’ price objective would indicate a potential upside of 11.95% from the stock’s previous close.

Several other research analysts have also recently issued reports on BLFS. HC Wainwright lowered their price objective on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, November 18th. KeyCorp upped their price objective 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 upped their price objective on BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Benchmark reaffirmed a “buy” rating and set a $30.00 price objective on shares of BioLife Solutions in a research report on Thursday, December 19th. Finally, TD Cowen boosted their target price on BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.43.

BioLife Solutions Trading Up 2.1 %

NASDAQ:BLFS opened at $27.69 on Wednesday. The stock has a 50-day simple moving average of $25.99 and a 200-day simple moving average of $24.29. The stock has a market cap of $1.28 billion, a P/E ratio of -26.12 and a beta of 1.92. BioLife Solutions has a 1 year low of $14.50 and a 1 year high of $28.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78.

Insider Activity

In other BioLife Solutions news, EVP Aby J. Mathew sold 7,604 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $27.33, for a total transaction of $207,817.32. Following the completion of the sale, the executive vice president now directly owns 276,315 shares of the company’s stock, valued at $7,551,688.95. This represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Troy Wichterman sold 987 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $27.02, for a total value of $26,668.74. Following the sale, the chief financial officer now directly owns 121,779 shares of the company’s stock, valued at approximately $3,290,468.58. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 113,129 shares of company stock valued at $2,576,818. Insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLFS. Mutual of America Capital Management LLC purchased a new stake in BioLife Solutions during the 2nd quarter valued at approximately $8,592,000. Rockefeller Capital Management L.P. increased its position in BioLife Solutions by 81.3% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 585,497 shares of the medical equipment provider’s stock worth $14,661,000 after purchasing an additional 262,504 shares during the period. State Street Corp increased its position in BioLife Solutions by 7.3% during the 3rd 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 during the period. Envestnet Asset Management Inc. increased its position in BioLife Solutions by 261.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 127,215 shares of the medical equipment provider’s stock worth $2,726,000 after purchasing an additional 92,021 shares during the period. Finally, Fred Alger Management LLC increased its position in BioLife Solutions by 6.0% during the 2nd quarter. Fred Alger Management LLC now owns 1,579,138 shares of the medical equipment provider’s stock worth $33,841,000 after purchasing an additional 88,840 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.