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Todd Berard, the Chief Marketing Officer of BioLife Solutions Inc. (NASDAQ:BLFS), has sold 102 shares of the company's common stock. The transaction was executed on February 12, 2025, at a price of $26.54 per share, amounting to a total of $2,707. Following this sale, Berard retains ownership of 106,962 shares in BioLife Solutions. The stock has shown remarkable strength, delivering a 56% return over the past year and currently trading near its 52-week high of $29.55. According to InvestingPro analysis, the company maintains a healthy financial position with a current ratio of 2.78, indicating strong liquidity.
This sale was conducted under a Rule 10b5-1 trading plan, which was originally adopted by Berard in February 2021. The plan was set up to manage tax withholding obligations associated with the vesting of restricted stock. InvestingPro subscribers can access 11 additional key insights about BLFS, including detailed analysis of its growth prospects and market position. Get the complete picture with the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, BioLife Solutions has been the subject of multiple analyst notes following strategic shifts and leadership changes. Maxim Group raised its price target for BioLife Solutions to $34, anticipating a return to durable top-line growth in 2025 due to the company's focus on its Cell and Gene Therapy tools. 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 also held its Buy rating on BioLife with a steady price target of $30.00, following the company's sale of its SciSafe biostorage service division and the addition of Tony J. Hunt to the Board of Directors. KeyBanc Capital Markets again maintained an Overweight rating while increasing the price target to $33, citing the company's efficient execution of asset sales under the new CEO.
However, H.C. Wainwright adjusted the price target for BioLife Solutions downward to $27, following the sale of the company's last wholly owned freezer subsidiary, Arctic Solutions, and its biostorage subsidiary, SciSafe Holdings. Despite the lowered price target, H.C. Wainwright continues to recommend a Buy rating on the stock. These are the latest developments in the company's strategic shift towards its proprietary cell processing products.
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