BioLife Solutions (NASDAQ:BLFS) Given New $31.00 Price Target at TD Cowen

BioLife Solutions (NASDAQ:BLFS) had its price target raised by stock analysts at TD Cowen from $28.00 to $31.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. TD Cowen’s target price suggests a potential upside of 23.36% from the stock’s current price.

Several other brokerages have also recently issued reports on BLFS. Northland Securities raised their target price on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. HC Wainwright started coverage on BioLife Solutions in a report on Monday, September 30th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, Craig Hallum raised their target price on BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, BioLife Solutions has a consensus rating of “Moderate Buy” and an average target price of $27.83.

BioLife Solutions Stock Down 5.2 %

BLFS traded down $1.37 during trading on Wednesday, hitting $25.13. The stock had a trading volume of 609,852 shares, compared to its average volume of 373,723. The company has a market capitalization of $1.16 billion, a PE ratio of -23.71 and a beta of 1.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.81 and a current ratio of 2.86. BioLife Solutions has a twelve month low of $11.00 and a twelve month high of $28.88. The stock has a 50 day simple moving average of $24.13 and a two-hundred day simple moving average of $22.72.

Insider Buying and Selling

In other news, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.12, for a total transaction of $77,118.40. Following the completion of the sale, the executive now owns 114,773 shares in the company, valued at $2,883,097.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.12, for a total transaction of $77,118.40. Following the transaction, the executive now owns 114,773 shares in the company, valued at approximately $2,883,097.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $23.28, for a total transaction of $232,800.00. Following the completion of the transaction, the executive vice president now owns 317,716 shares of the company’s stock, valued at $7,396,428.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,044 shares of company stock valued at $645,105 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of BioLife Solutions by 11.5% during the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock worth $53,208,000 after buying an additional 296,727 shares in the last quarter. Fred Alger Management LLC grew its stake in BioLife Solutions by 6.0% in 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 acquiring an additional 88,840 shares during the period. Dimensional Fund Advisors LP grew its position in shares of BioLife Solutions by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 794,971 shares of the medical equipment provider’s stock valued at $17,034,000 after purchasing an additional 66,422 shares during the period. Curi RMB Capital LLC raised its stake in BioLife Solutions by 0.5% during the third quarter. Curi RMB Capital LLC now owns 421,933 shares of the medical equipment provider’s stock worth $10,565,000 after purchasing an additional 2,283 shares during the period. Finally, Mutual of America Capital Management LLC acquired a new stake in BioLife Solutions during the second quarter worth about $8,592,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

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.