BioLife Solutions (NASDAQ:BLFS) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of BioLife Solutions (NASDAQ:BLFS) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $18.00 price objective on the medical equipment provider’s stock.

According to Zacks, “BioLife Solutions has pioneered the next generation of preservation solutions designed to maintain the viability and health of cellular matter and tissues during freezing, transportation and storage. Based on their proprietary bio-packaging technology and a patented understanding of the mechanism of cellular damage and death, these products enable the biotechnology and medical community to address a growing problem that exists today. “

Several other equities analysts have also commented on BLFS. ValuEngine lowered BioLife Solutions from a buy rating to a hold rating in a report on Wednesday, April 29th. TheStreet lowered BioLife Solutions from a b- rating to a c rating in a report on Thursday, March 12th. Maxim Group reissued a buy rating and issued a $18.00 target price on shares of BioLife Solutions in a report on Saturday, May 16th. Oppenheimer reissued a buy rating on shares of BioLife Solutions in a report on Wednesday, May 6th. Finally, B. Riley dropped their target price on BioLife Solutions from $24.00 to $22.00 and set a buy rating on the stock in a report on Monday, May 4th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $21.33.

Shares of NASDAQ BLFS traded up $2.07 during mid-day trading on Wednesday, hitting $18.11. The company had a trading volume of 191,386 shares, compared to its average volume of 176,624. The company has a market capitalization of $424.50 million, a PE ratio of 43.90 and a beta of 1.53. BioLife Solutions has a 1-year low of $7.37 and a 1-year high of $21.18. The business’s 50-day simple moving average is $16.01 and its 200 day simple moving average is $14.01.

In related news, CEO Michael Rice sold 18,750 shares of the firm’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $9.03, for a total transaction of $169,312.50. Following the transaction, the chief executive officer now owns 233,489 shares of the company’s stock, valued at $2,108,405.67. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Aby J. Mathew sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $15.42, for a total value of $154,200.00. Following the transaction, the vice president now directly owns 223,157 shares in the company, valued at approximately $3,441,080.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 635,826 shares of company stock worth $9,279,036. Corporate insiders own 22.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of BioLife Solutions by 14.5% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,079 shares of the medical equipment provider’s stock worth $99,000 after buying an additional 771 shares during the last quarter. Citigroup Inc. lifted its position in BioLife Solutions by 101.4% in the fourth quarter. Citigroup Inc. now owns 1,555 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 783 shares during the period. Charles Schwab Investment Management Inc. lifted its position in BioLife Solutions by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,398 shares of the medical equipment provider’s stock valued at $298,000 after purchasing an additional 1,402 shares during the period. Victory Capital Management Inc. lifted its position in BioLife Solutions by 31.6% in the first quarter. Victory Capital Management Inc. now owns 6,128 shares of the medical equipment provider’s stock valued at $58,000 after purchasing an additional 1,470 shares during the period. Finally, Verus Capital Partners LLC acquired a new stake in BioLife Solutions in the fourth quarter valued at about $32,000. 59.70% of the stock is currently owned by hedge funds and other institutional investors.

BioLife Solutions Company Profile

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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