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Karen A. Foster, Chief Quality and Operations Officer at BioLife Solutions Inc. (NASDAQ:BLFS), recently sold a portion of her holdings in the company. According to a recent SEC filing, Foster sold 286 shares of common stock at a price of $20.11 per share, amounting to a total transaction value of $5,751. The stock currently trades at $21.88, having gained nearly 5% in the past week despite showing volatility, according to InvestingPro data. Following this sale, she retains ownership of 195,567 shares. The transaction was executed under a Rule 10b5-1 trading plan, which was set up to satisfy tax withholding obligations related to the vesting of restricted stock. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 4.54, while receiving a "GOOD" overall financial health rating. Get access to 8 more exclusive ProTips and comprehensive analysis in the Pro Research Report.
In other recent news, BioLife Solutions reported its financial results for the fourth quarter and the full year of 2024, revealing a total revenue of $22.7 million for the quarter, surpassing analyst estimates. The company posted a net loss of $2.0 million, which was smaller than projected, and for the entire year, it recorded a total revenue of $82.3 million. BioLife’s Cell Processing segment experienced significant growth, with a 31% year-over-year increase in revenue for the fourth quarter. Analysts at H.C. Wainwright and Benchmark both raised their price targets for BioLife to $30, maintaining a "Buy" rating, reflecting confidence in the company’s financial performance and future prospects.
KeyBanc Capital Markets maintained an Overweight stock rating with a $33 target, citing confidence in BioLife’s Cell Processing business and new product introductions. The company has completed the sale of non-core assets to focus on its primary bio preservation media business, which accounts for the majority of its revenue. Looking forward to 2025, BioLife expects total revenue to range between $95.5 million and $99.0 million, indicating a 16-20% year-over-year increase. BioLife’s biopreservation media is now incorporated into 17 approved cell and gene therapies, with the potential for more approvals in the next 12 months.
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