BioLife Solutions (NASDAQ:BLFS) Downgraded by Stephens to Hold

BioLife Solutions (NASDAQ:BLFS) was downgraded by equities researchers at Stephens from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

BLFS has been the subject of a number of other research reports. William Blair set a $31.00 price target on shares of BioLife Solutions in a research note on Thursday, July 23rd. Zacks Research lowered shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Lake Street Capital cut shares of BioLife Solutions from a “buy” rating to a “hold” rating and reduced their target price for the company from $33.00 to $31.00 in a report on Wednesday, July 22nd. TD Cowen downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating and decreased their target price for the stock from $33.00 to $31.00 in a research note on Wednesday, July 22nd. Finally, Wall Street Zen lowered BioLife Solutions from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BioLife Solutions presently has a consensus rating of “Hold” and an average price target of $31.38.

BioLife Solutions Stock Down 0.6%

NASDAQ:BLFS opened at $29.79 on Monday. The stock’s 50 day moving average price is $27.09 and its 200 day moving average price is $23.56. The company has a market capitalization of $1.46 billion, a PE ratio of -372.33 and a beta of 1.94. BioLife Solutions has a 52-week low of $17.86 and a 52-week high of $32.23.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings data on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The company had revenue of $27.50 million during the quarter, compared to analysts’ expectations of $25.66 million. BioLife Solutions had a positive return on equity of 1.81% and a negative net margin of 2.80%. As a group, sell-side analysts anticipate that BioLife Solutions will post 0.03 EPS 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 stock was sold at an average price of $23.70, for a total transaction of $15,405,000.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 1,200,000 shares of company stock worth $28,125,000. Insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

Several hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its holdings in BioLife Solutions by 2.7% during the second quarter. The Manufacturers Life Insurance Company now owns 20,764 shares of the medical equipment provider’s stock worth $447,000 after acquiring an additional 555 shares during the period. Isthmus Partners LLC lifted its holdings in BioLife Solutions by 0.5% in the fourth quarter. Isthmus Partners LLC now owns 138,393 shares of the medical equipment provider’s stock valued at $3,346,000 after acquiring an additional 622 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of BioLife Solutions by 2.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 27,278 shares of the medical equipment provider’s stock worth $588,000 after purchasing an additional 702 shares in the last quarter. Quarry LP increased its holdings in shares of BioLife Solutions by 50.9% in the 3rd quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock valued at $54,000 after purchasing an additional 713 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of BioLife Solutions by 2.9% in the 3rd quarter. Millennium Management LLC now owns 27,698 shares of the medical equipment provider’s stock valued at $707,000 after purchasing an additional 783 shares in the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

BioLife Solutions Company Profile

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.