BioLife Solutions, Inc. (NASDAQ:BLFS) Receives Consensus Rating of “Hold” from Analysts

BioLife Solutions, Inc. (NASDAQ:BLFS) has been assigned an average rating of “Hold” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $31.3750.

Several research firms recently commented on BLFS. Zacks Research cut BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. HC Wainwright lowered BioLife Solutions from a “buy” rating to a “neutral” rating and reduced their price target for the company from $32.00 to $31.00 in a research report on Thursday, July 23rd. William Blair set a $31.00 price objective on BioLife Solutions in a research note on Thursday, July 23rd. 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of BioLife Solutions in a research note on Friday, July 17th.

BioLife Solutions Stock Up 7.4%

BioLife Solutions stock opened at $31.98 on Wednesday. BioLife Solutions has a 52-week low of $17.86 and a 52-week high of $33.14. The firm has a market cap of $1.56 billion, a PE ratio of -399.70 and a beta of 1.94. The company’s 50 day moving average is $27.27 and its two-hundred day moving average is $23.60.

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

Insider Transactions at BioLife Solutions

In other BioLife Solutions 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 shares were sold at an average price of $23.70, for a total transaction of $15,405,000.00. Following the completion of the transaction, the insider owned 4,757,165 shares in the company, valued at $112,744,810.50. The trade was a 12.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 1,200,000 shares of company stock valued at $28,125,000 in the last ninety days. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On BioLife Solutions

A number of institutional investors and hedge funds have recently modified their holdings of BLFS. T. Rowe Price Investment Management Inc. raised its stake in BioLife Solutions by 27.4% in the fourth 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 buying an additional 1,113,972 shares in the last quarter. Bank of America Corp DE boosted its position 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. Capricorn Fund Managers Ltd purchased a new position in shares of BioLife Solutions in the 4th quarter valued at about $9,153,000. Invesco Ltd. increased its holdings in shares of BioLife Solutions by 9.2% in 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. Finally, Granahan Investment Management LLC raised its position in shares of BioLife Solutions by 49.7% during the 1st quarter. Granahan Investment Management LLC now owns 722,057 shares of the medical equipment provider’s stock worth $13,777,000 after acquiring an additional 239,701 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

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.