Sarah Aebersold, the Chief Human Resources Officer at BioLife Solutions Inc. (NASDAQ:BLFS), recently sold shares of the company’s common stock. According to a filing with the Securities and Exchange Commission, Aebersold sold 240 shares at a price of $27.02 per share, totaling approximately $6,484. Following this transaction, Aebersold holds 60,244 shares of BioLife Solutions. The sale was conducted under a Rule 10b5-1 trading plan, which was adopted to satisfy tax withholding obligations related to the vesting of restricted stock. Based on current market data from InvestingPro, which offers 12 additional investment tips for BLFS, the stock appears to be trading above its Fair Value, with analysts setting price targets ranging from $27 to $34.
In other recent news, BioLife Solutions has been the subject of several analyst updates. Maxim Group raised its price target for the company to $34 and maintained a Buy rating, citing an expected return to robust top-line growth in 2025 following a strategic shift towards its Cell and Gene Therapy tools. Similarly, KeyBanc Capital Markets kept its Overweight rating and adjusted its price target to $33, finding promise in the recent appointment of Tony Hunt to the Board of Directors and the company's strong financial position.
Benchmark also held its Buy rating on BioLife Solutions shares, despite revising its fourth-quarter revenue projections downwards. The firm maintains a positive outlook, based on the company's strategic sale of its SciSafe biostorage service division and the addition of Tony J. Hunt to the company's Board of Directors.
H.C. Wainwright, despite reducing its stock price target for BioLife Solutions to $27, maintained its Buy rating. The adjustment followed the company's sale of its freezer subsidiary, Arctic Solutions, and its biostorage subsidiary, SciSafe Holdings, as part of BioLife's strategic shift towards higher margin, recurring revenue streams.
These developments come after BioLife Solutions reported a year-over-year revenue increase of 30% for the third quarter of 2024, reaching $30.6 million. The company also completed the sale of its freezer subsidiary, Custom Biogenic Systems, for $6.1 million, marking the end of its divestiture from freezer-related businesses. Despite these divestitures, BioLife Solutions raised its cell processing revenue guidance for 2024 to between $72 million and $73 million, but revised its total revenue guidance for the same year to between $98 million and $100 million due to the sale of SciSafe.
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