Why Shares in BioLife Solutions Jumped 24.4% in August

BioLife Solutions (NASDAQ: BLFS) had a great month with its shares rising more than $10. It opened the month at $47.27, but the stock's biggest rise came on Aug. 25. On Aug. 24, it closed at $46.29, but the next morning it opened at $52.70 and kept rising, closing the day at $55.61, more than $9 than the previous day. The stock remained high through the end of the month, closing at $58.36 on Aug. 31. According to S&P Global Market Intelligence, the stock rose 24.4% in the month.

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The company specializes in lab freezers, thaw systems, and cold-chain packaging, everything a biotech company needs to store and deliver cell and gene therapies that require precise temperatures. Of course, those products have also come in handy for anyone who needs to transport and deliver COVID-19 vaccines at certain temperatures, but they are also increasingly used with a myriad of other biotech therapies.

Source Fool.com