BOTHELL, WA—Todd Berard, Chief Marketing Officer of Biolife Solutions Inc. (NASDAQ:BLFS), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Berard sold 343 shares of common stock on January 6, 2025, at a price of $27.02 per share. This transaction totaled approximately $9,267. The sale comes as BLFS trades near its 52-week high of $28.88, with the stock showing remarkable strength, up over 60% in the past year. According to InvestingPro, the company maintains a "GOOD" financial health rating.
Following the sale, Berard retains ownership of 107,064 shares in the company. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, which Berard adopted to satisfy tax withholding obligations related to the vesting of restricted stock. The $1.29 billion market cap company has shown volatile price movements, with InvestingPro offering 12 additional investment tips and comprehensive analysis in its Pro Research Report.
In other recent news, BioLife Solutions (NASDAQ:BLFS) has seen significant developments in its financial performance and strategic direction. The company has successfully completed the sale of its freezer subsidiary, Custom Biogenic Systems, for $6.1 million and its SciSafe division for $73 million. Despite these divestitures, BioLife Solutions raised its cell processing revenue guidance for 2024 to be 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.
Several analyst firms have adjusted their outlook on BioLife Solutions. Maxim Group raised its price target for the company to $34, anticipating a return to durable top-line growth in 2025. KeyBanc Capital Markets maintained its Overweight rating and $33.00 price target, encouraged by the recent appointment of Tony Hunt to the Board of Directors and the company’s strong financial position. Benchmark maintained its Buy rating with a steady price target of $30.00, despite recalibrating the company’s fourth-quarter projections.
The company’s strategic shift towards its Cell and Gene Therapy tools is expected to foster consistent and repeatable business due to their integration into customer therapies. This refocused strategy has been well received in the market, and is anticipated to lead to dependable and recurring revenue streams for BioLife Solutions. These recent developments indicate the company’s successful transition towards a business model centered on consumable, recurring revenue streams with higher margin potential.
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