Cowen started coverage on shares of BioLife Solutions (NASDAQ:BLFS) in a research report sent to investors on Friday morning, Benzinga reports. The firm issued an outperform rating and a $33.00 target price on the medical equipment provider’s stock.
Several other equities research analysts also recently weighed in on BLFS. BidaskClub raised BioLife Solutions from a buy rating to a strong-buy rating in a report on Tuesday, September 15th. Maxim Group started coverage on BioLife Solutions in a report on Friday, August 7th. They set a buy rating and a $26.00 price target for the company. Northland Securities reaffirmed a buy rating and set a $28.00 price target on shares of BioLife Solutions in a report on Friday, August 7th. Zacks Investment Research downgraded BioLife Solutions from a hold rating to a sell rating in a report on Wednesday, September 9th. Finally, ValuEngine raised BioLife Solutions from a hold rating to a buy rating in a report on Wednesday, August 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $23.95.
Shares of BioLife Solutions stock opened at $26.40 on Friday. The firm has a market capitalization of $844.85 million, a P/E ratio of -82.50, a P/E/G ratio of 90.70 and a beta of 1.70. BioLife Solutions has a 52 week low of $7.37 and a 52 week high of $28.28. The firm’s 50 day moving average is $21.82 and its two-hundred day moving average is $16.20.
In other BioLife Solutions news, major shareholder Casdin Partners Master Fund, L purchased 685,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were purchased at an average cost of $14.50 per share, with a total value of $9,932,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Rice sold 18,750 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $23.24, for a total value of $435,750.00. Following the completion of the sale, the chief executive officer now directly owns 227,096 shares in the company, valued at $5,277,711.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 591,049 shares of company stock valued at $10,298,463. 22.30% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the business. FMR LLC acquired a new position in shares of BioLife Solutions in the 1st quarter valued at about $2,684,000. UBS Group AG lifted its stake in shares of BioLife Solutions by 27.4% in the 1st quarter. UBS Group AG now owns 15,839 shares of the medical equipment provider’s stock valued at $151,000 after purchasing an additional 3,406 shares in the last quarter. BlackRock Inc. lifted its stake in shares of BioLife Solutions by 7.2% in the 1st quarter. BlackRock Inc. now owns 595,328 shares of the medical equipment provider’s stock valued at $5,656,000 after purchasing an additional 39,861 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of BioLife Solutions by 31.6% in the 1st 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 in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of BioLife Solutions by 144.1% in the 1st quarter. JPMorgan Chase & Co. now owns 43,185 shares of the medical equipment provider’s stock valued at $410,000 after purchasing an additional 25,494 shares in the last quarter. 46.90% 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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