KeyCorp Forecasts Strong Price Appreciation for BioLife Solutions (NASDAQ:BLFS) Stock

BioLife Solutions (NASDAQ:BLFS) had its price target hoisted by stock analysts at KeyCorp from $30.00 to $33.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. KeyCorp’s price objective points to a potential upside of 21.77% from the stock’s previous close.

Several other equities analysts also recently issued reports on the company. Craig Hallum upped their target price on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. TD Cowen increased their price objective on BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, HC Wainwright decreased their target price on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, BioLife Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.29.

BioLife Solutions Stock Performance

NASDAQ:BLFS traded up $0.38 during trading hours on Friday, hitting $27.10. 21,295 shares of the company were exchanged, compared to its average volume of 382,270. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. BioLife Solutions has a 52-week low of $13.99 and a 52-week high of $28.88. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -25.57 and a beta of 1.91. The company’s 50 day moving average price is $24.58 and its 200-day moving average price is $23.51.

Insider Transactions at BioLife Solutions

In related news, CRO Garrie Richardson sold 3,070 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.12, for a total transaction of $77,118.40. Following the sale, the executive now directly owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. This represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Aby J. Mathew sold 17,604 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $20.05, for a total transaction of $352,960.20. Following the sale, the executive vice president now owns 284,442 shares in the company, valued at approximately $5,703,062.10. This represents a 5.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,313 shares of company stock worth $1,572,899 over the last quarter. 2.20% of the stock is currently owned by insiders.

Institutional Trading of BioLife Solutions

Institutional investors have recently bought and sold shares of the business. Mark Sheptoff Financial Planning LLC acquired a new stake in BioLife Solutions in the 3rd quarter worth about $28,000. 1620 Investment Advisors Inc. acquired a new stake in shares of BioLife Solutions in the second quarter worth approximately $35,000. Quest Partners LLC purchased a new stake in shares of BioLife Solutions during the third quarter worth approximately $57,000. GAMMA Investing LLC raised its stake in BioLife Solutions by 29.4% in the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock valued at $83,000 after purchasing an additional 748 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in BioLife Solutions in the 2nd quarter valued at $122,000. 93.24% of the stock is owned by institutional investors and hedge funds.

BioLife Solutions Company Profile

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.