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Potential Price Increase for Biolife Solutions Inc (BLFS) After Recent Insider Activity

Biolife Solutions Inc’s recent filing unveils that its Chief Financial Officer Wichterman Troy unloaded Company’s shares for reported $2551.0 on May 17 ’24. In the deal valued at $22.18 per share,115 shares were sold. As a result of this transaction, Wichterman Troy now holds 126,543 shares worth roughly $2.74 million.

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Then, Mathew Aby J. sold 98 shares, generating $2,174 in total proceeds. Upon selling the shares at $22.18, the EVP & Chief Scientific Officer now owns 319,000 shares.

Before that, Foster Karen A. sold 85 shares. Biolife Solutions Inc shares valued at $1,885 were divested by the Chief Quality and Operations at a price of $22.18 per share. As a result of the transaction, Foster Karen A. now holds 158,579 shares, worth roughly $3.44 million.

Jefferies initiated its Biolife Solutions Inc [BLFS] rating to a Buy in a research note published on April 04, 2024; the price target was $22. A number of analysts have revised their coverage, including Craig Hallum’s analysts, who began to cover the stock in mid July with a ‘”a Buy”‘ rating. Oppenheimer also remained covering BLFS and has increased its forecast on April 25, 2022 with a “an Outperform” recommendation from previously “Perform” rating. B. Riley Securities started covering the stock on October 19, 2021. It rated BLFS as “a Buy”.

Price Performance Review of BLFS

On Tuesday, Biolife Solutions Inc [NASDAQ:BLFS] saw its stock fall -0.69% to $21.68. Over the last five days, the stock has lost -3.34%. Biolife Solutions Inc shares have risen nearly 33.42% since the year began. Nevertheless, the stocks have risen 1.31% over the past one year. While a 52-week high of $24.50 was reached on 05/15/24, a 52-week low of $8.92 was recorded on 03/01/24. SMA at 50 days reached $18.09, while 200 days put it at $15.25. A total of 0.24 million shares were traded, compared to the trading of 0.31 million shares in the previous session.

Levels Of Support And Resistance For BLFS Stock

The 24-hour chart illustrates a support level at 21.35, which if violated will result in even more drops to 21.02. On the upside, there is a resistance level at 21.91. A further resistance level may holdings at 22.14. The Relative Strength Index (RSI) on the 14-day chart is 66.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.68, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 23.87%. Stochastics %K at 78.54% indicates the stock is a holding.

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