BioLife Solutions (NASDAQ:BLFS) Announces Earnings Results

BioLife Solutions (NASDAQ:BLFS) posted its quarterly earnings results on Thursday. The medical equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.88, FiscalAI reports. The company had revenue of $28.47 million for the quarter, compared to analyst estimates of $27.80 million. BioLife Solutions had a positive return on equity of 1.81% and a negative net margin of 2.80%.

BioLife Solutions Stock Up 0.4%

NASDAQ:BLFS traded up $0.13 during mid-day trading on Thursday, reaching $33.93. 461,485 shares of the stock were exchanged, compared to its average volume of 1,571,188. The stock has a market capitalization of $1.66 billion, a P/E ratio of -424.07 and a beta of 1.93. BioLife Solutions has a 1 year low of $17.86 and a 1 year high of $34.34. The company has a 50 day simple moving average of $28.40 and a 200-day simple moving average of $24.00.

Insiders Place Their Bets

In other news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the 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 directly owned 4,757,165 shares of the company’s stock, valued at approximately $112,744,810.50. This represents a 12.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 1,200,000 shares of company stock valued at $28,125,000 in the last three months. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BioLife Solutions

A number of institutional investors have recently modified their holdings of BLFS. T. Rowe Price Investment Management Inc. increased its position in 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 valued at $125,273,000 after acquiring an additional 1,113,972 shares during the period. Invesco Ltd. raised its stake in BioLife Solutions by 9.2% during the 4th 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 during the last quarter. Qube Research & Technologies Ltd raised its stake in BioLife Solutions by 2,399.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 248,474 shares of the medical equipment provider’s stock valued at $5,352,000 after acquiring an additional 238,533 shares during the last quarter. Heights Point Management LP acquired a new stake in BioLife Solutions during the 4th quarter worth approximately $5,260,000. Finally, Ameriprise Financial Inc. grew its stake in shares of BioLife Solutions by 11.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,080,371 shares of the medical equipment provider’s stock valued at $23,271,000 after purchasing an additional 109,959 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. TD Cowen downgraded BioLife Solutions from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $33.00 to $31.00 in a research report on Wednesday, July 22nd. Craig Hallum downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research note on Wednesday, July 22nd. William Blair set a $31.00 price target on shares of BioLife Solutions in a research note on Thursday, July 23rd. Wall Street Zen cut shares of BioLife Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Stephens reissued an “equal weight” rating and issued a $31.00 price objective (down from $32.00) on shares of BioLife Solutions in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, BioLife Solutions currently has an average rating of “Hold” and a consensus price target of $31.38.

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.