BioLife Solutions (NASDAQ:BLFS) Hits New 12-Month High – Time to Buy?

BioLife Solutions, Inc. (NASDAQ:BLFS)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $33.26 and last traded at $33.14, with a volume of 197044 shares traded. The stock had previously closed at $32.52.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stephens reaffirmed an “equal weight” rating and set a $31.00 price objective (down from $32.00) on shares of BioLife Solutions in a report on Monday, July 27th. TD Cowen cut BioLife Solutions from a “buy” rating to a “hold” rating and reduced their target price for the stock from $33.00 to $31.00 in a report on Wednesday, July 22nd. Jefferies Financial Group downgraded BioLife Solutions from a “buy” rating to a “hold” rating and boosted their target price for the stock from $30.00 to $31.00 in a research report on Thursday, July 23rd. HC Wainwright lowered BioLife Solutions from a “buy” rating to a “neutral” rating and dropped their price target for the company from $32.00 to $31.00 in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BioLife Solutions in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $31.38.

BioLife Solutions Stock Performance

The stock has a fifty day moving average of $28.04 and a 200-day moving average of $23.86. The company has a market cap of $1.63 billion, a PE ratio of -416.82 and a beta of 1.93.

BioLife Solutions (NASDAQ:BLFS) last released its earnings results on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. BioLife Solutions had a positive return on equity of 1.81% and a negative net margin of 2.80%.The business had revenue of $27.50 million for the quarter, compared to analyst estimates of $25.66 million. As a group, equities analysts anticipate that BioLife Solutions, Inc. will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at BioLife Solutions

In related news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $23.70, for a total value of $15,405,000.00. Following the completion of the sale, the insider owned 4,757,165 shares in the company, valued at approximately $112,744,810.50. The trade was a 12.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,200,000 shares of company stock worth $28,125,000 over the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. lifted its position in shares of BioLife Solutions by 27.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,180,824 shares of the medical equipment provider’s stock worth $125,273,000 after purchasing an additional 1,113,972 shares during the period. Bank of America Corp DE raised its stake in shares of BioLife Solutions by 73.4% during the 1st quarter. Bank of America Corp DE now owns 904,103 shares of the medical equipment provider’s stock worth $17,250,000 after acquiring an additional 382,776 shares in the last quarter. Invesco Ltd. boosted its stake in BioLife Solutions by 9.2% in the fourth quarter. Invesco Ltd. now owns 3,932,191 shares of the medical equipment provider’s stock valued at $95,080,000 after acquiring an additional 332,747 shares in the last quarter. Granahan Investment Management LLC boosted its position in shares of BioLife Solutions by 49.7% in the 1st quarter. Granahan Investment Management LLC now owns 722,057 shares of the medical equipment provider’s stock worth $13,777,000 after purchasing an additional 239,701 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in BioLife Solutions by 2,399.5% in the second quarter. Qube Research & Technologies Ltd now owns 248,474 shares of the medical equipment provider’s stock valued at $5,352,000 after buying an additional 238,533 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

About BioLife Solutions

BioLife Solutions (NASDAQ:BLFS) specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife’s product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company’s flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.