Dallas, Texas 10/29/2013 (Financialstrend) – The $91.5 million market capitalized BioLife Solutions, Inc. (OTCMKTS:BLFS) shares have posted a tremendous 74% increase in their market value during trading in the past one month. During trading on October 29, the stock posted a impressive 21% increase in value over its previous day close. At current valuations it has been trading at 23% below its 52 week high benchmark of $1.3 it has recorded on October 25. While it is difficult to put a figure on the reason behind the market rally the investors in the stock would be hoping that the gains from the bull run can be sustained by the stock. This is because the stock has charted a pretty erratic pattern on the browsers in the past one month. It started the month of October at $0.79 per share. It managed to post a 74% rally to record 52 week high price of $1.38 around October 24. It then recorded a 22% dip in value during trading on October 24 to reach $1.07 at end of trading on October 25. When trading resumed yesterday for the week, the stock again posted a 21% increase to regain some of its lost valuations.
It has been in operation since 1998 and is a prolific provider of tools which are used in the bio tech and life sciences industry. It produces bio preservatives which are used by research agencies, government labs and other such organizations to preserve “cells, tissues and organs”. It has also ventured into the highly lucrative area of producing media / preservatives for storing stem cells.
In its efforts to sustain the gains, the company has been attempting to increase its product portfolio. Hence in September it had tied up with “SAVSU Technologies, Inc., a subsidiary of Barson Corporation” to distribute and resell their “precision thermal packaging products”.