BioLife Solutions (NASDAQ:BLFS) Trading Up 6.9%

BioLife Solutions Inc (NASDAQ:BLFS)’s share price was up 6.9% during trading on Tuesday . The stock traded as high as $16.45 and last traded at $16.35, approximately 221,154 shares were traded during mid-day trading. An increase of 12% from the average daily volume of 196,991 shares. The stock had previously closed at $15.30.

Several analysts have recently commented on BLFS shares. TheStreet downgraded BioLife Solutions from a “b-” rating to a “c” rating in a research note on Thursday, March 12th. ValuEngine lowered BioLife Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, April 29th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 target price on shares of BioLife Solutions in a report on Thursday, June 4th. Maxim Group reaffirmed a “buy” rating and issued a $18.00 target price on shares of BioLife Solutions in a report on Saturday, May 16th. Finally, B. Riley reduced their target price on BioLife Solutions from $24.00 to $22.00 and set a “buy” rating for the company in a report on Monday, May 4th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $21.33.

The firm has a fifty day simple moving average of $15.94 and a two-hundred day simple moving average of $14.01. The firm has a market capitalization of $400.56 million, a P/E ratio of 39.68 and a beta of 1.53.

In other news, Director Thomas Girschweiler sold 492,277 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $14.90, for a total value of $7,334,927.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Rice sold 18,750 shares of the firm’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $9.03, for a total value of $169,312.50. Following the completion of the transaction, the chief executive officer now directly owns 233,489 shares of the company’s stock, valued at $2,108,405.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 635,826 shares of company stock valued at $9,279,036. 22.30% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of BioLife Solutions by 82.8% in the first quarter. Wellington Management Group LLP now owns 256,400 shares of the medical equipment provider’s stock worth $2,436,000 after acquiring an additional 116,100 shares during the period. Citigroup Inc. boosted its holdings in shares of BioLife Solutions by 111.7% in the first quarter. Citigroup Inc. now owns 3,292 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 1,737 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of BioLife Solutions by 15.5% in the fourth quarter. Bank of New York Mellon Corp now owns 90,676 shares of the medical equipment provider’s stock worth $1,467,000 after acquiring an additional 12,198 shares during the period. BlackRock Inc. boosted its holdings in shares of BioLife Solutions by 7.2% in the first quarter. BlackRock Inc. now owns 595,328 shares of the medical equipment provider’s stock worth $5,656,000 after acquiring an additional 39,861 shares during the period. Finally, Franklin Resources Inc. bought a new position in shares of BioLife Solutions in the fourth quarter worth $398,000. 59.70% of the stock is owned by hedge funds and other institutional investors.

About BioLife Solutions (NASDAQ:BLFS)

BioLife Solutions, Inc develops, manufactures, and markets grade cell and tissue hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs in the United States. Its products are serum-free and protein-free solutions, which are formulated to reduce preservation-induced cell damage and death.

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