Biolife Solutions (NASDAQ:BLFS) had its price target raised by stock analysts at Maxim Group from $9.00 to $12.00 in a research report issued to clients and investors on Friday, May 11th. The firm presently has a “buy” rating on the medical equipment provider’s stock. Maxim Group’s price target suggests a potential upside of 32.60% from the company’s previous close.
Other analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Biolife Solutions from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Northland Securities initiated coverage on shares of Biolife Solutions in a research report on Monday, March 12th. They issued an “outperform” rating for the company.
Shares of Biolife Solutions stock opened at $9.05 on Friday. Biolife Solutions has a 52-week low of $8.78 and a 52-week high of $8.92.
In other news, CEO Michael Rice sold 12,540 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $5.27, for a total transaction of $66,085.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas Girschweiler sold 1,025,000 shares of the company’s stock in a transaction on Monday, April 9th. The stock was sold at an average price of $5.26, for a total transaction of $5,391,500.00. The disclosure for this sale can be found here. Insiders sold a total of 1,062,620 shares of company stock worth $5,656,094 over the last three months. 38.50% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Essex Investment Management Co. LLC grew its stake in Biolife Solutions by 199.8% in the 4th quarter. Essex Investment Management Co. LLC now owns 254,096 shares of the medical equipment provider’s stock valued at $1,525,000 after acquiring an additional 169,341 shares during the last quarter. Millennium Management LLC grew its stake in Biolife Solutions by 901.6% in the 4th quarter. Millennium Management LLC now owns 182,550 shares of the medical equipment provider’s stock valued at $1,095,000 after acquiring an additional 164,324 shares during the last quarter. Finally, Wells Fargo & Company MN purchased a new position in Biolife Solutions in the 4th quarter valued at about $111,000. 11.23% of the stock is currently owned by hedge funds and other institutional investors.
About Biolife Solutions
BioLife Solutions, Inc develops, manufactures, and markets patented 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, and delayed-onset cell damage and death.
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