Several other research analysts have also issued reports on the company. Oppenheimer lowered BioLife Solutions from an outperform rating to a market perform rating in a research report on Tuesday, September 22nd. Cowen started coverage on BioLife Solutions in a research report on Friday, September 18th. They issued an outperform rating and a $33.00 price objective for the company. ValuEngine lowered BioLife Solutions from a buy rating to a hold rating in a research report on Tuesday, December 1st. Maxim Group lifted their price objective on BioLife Solutions from $26.00 to $32.00 in a research report on Tuesday, September 22nd. Finally, B. Riley lifted their price objective on BioLife Solutions from $30.00 to $35.00 in a research report on Monday, October 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $32.30.
NASDAQ BLFS opened at $39.89 on Wednesday. BioLife Solutions has a twelve month low of $7.37 and a twelve month high of $47.22. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -54.64, a price-to-earnings-growth ratio of 437.20 and a beta of 1.56. The business’s fifty day moving average is $38.10 and its 200 day moving average is $26.91.
In other BioLife Solutions news, major shareholder Casdin Partners Master Fund, L bought 1,600,000 shares of the business’s stock in a transaction dated Tuesday, November 24th. The shares were purchased at an average price of $22.50 per share, for a total transaction of $36,000,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Rice sold 813 shares of the business’s stock in a transaction that occurred on Tuesday, December 1st. The stock was sold at an average price of $35.49, for a total value of $28,853.37. Following the completion of the transaction, the chief executive officer now owns 202,843 shares in the company, valued at approximately $7,198,898.07. The disclosure for this sale can be found here. Insiders have sold a total of 823,922 shares of company stock valued at $25,255,170 in the last quarter. Company insiders own 22.30% of the company’s stock.
Several large investors have recently bought and sold shares of BLFS. Wasatch Advisors Inc. bought a new stake in shares of BioLife Solutions in the 3rd quarter worth approximately $49,687,000. BlackRock Inc. raised its holdings in shares of BioLife Solutions by 82.9% in the 3rd quarter. BlackRock Inc. now owns 1,111,337 shares of the medical equipment provider’s stock worth $32,162,000 after purchasing an additional 503,659 shares during the period. Gagnon Securities LLC raised its holdings in shares of BioLife Solutions by 152.2% in the 3rd quarter. Gagnon Securities LLC now owns 406,299 shares of the medical equipment provider’s stock worth $11,758,000 after purchasing an additional 245,223 shares during the period. Silvercrest Asset Management Group LLC bought a new stake in shares of BioLife Solutions in the 2nd quarter worth approximately $3,859,000. Finally, Ziegler Capital Management LLC bought a new stake in shares of BioLife Solutions in the 3rd quarter worth approximately $5,640,000. 51.14% of the stock is currently owned by institutional investors.
About BioLife Solutions
BioLife Solutions, Inc develops, manufactures, and supplies bioproduction tools for the cell and gene therapy industry in North America, 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.
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