BioLife Solutions (NASDAQ:BLFS) Hits New 52-Week High on Analyst Upgrade

BioLife Solutions, Inc. (NASDAQ:BLFS) shares hit a new 52-week high on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $32.59 and last traded at $33.1010, with a volume of 204944 shares traded. The stock had previously closed at $29.79.

A number of other research analysts also recently commented on BLFS. Lake Street Capital downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating and decreased their price objective for the company from $33.00 to $31.00 in a research report on Wednesday, July 22nd. Jefferies Financial Group downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating and raised their target price for the company from $30.00 to $31.00 in a research note on Thursday, July 23rd. HC Wainwright downgraded BioLife Solutions from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $32.00 to $31.00 in a research report on Thursday, July 23rd. Stephens restated an “equal weight” rating and issued a $31.00 price objective (down from $32.00) on shares of BioLife Solutions in a research note on Monday. Finally, TD Cowen lowered BioLife Solutions from a “buy” rating to a “hold” rating and dropped their price objective for the company from $33.00 to $31.00 in a research note on Wednesday, July 22nd. One 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 stock. According to data from MarketBeat.com, BioLife Solutions currently has an average rating of “Hold” and a consensus price target of $31.38.

Insider Activity at BioLife Solutions

In related news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $23.70, for a total value 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. This represents a 12.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 1,200,000 shares of company stock worth $28,125,000. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

A number of institutional investors have recently made changes to their positions in BLFS. Tudor Investment Corp ET AL increased its stake in shares of BioLife Solutions by 85.2% during the third quarter. Tudor Investment Corp ET AL now owns 111,356 shares of the medical equipment provider’s stock worth $2,841,000 after purchasing an additional 51,217 shares during the period. Summit Creek Advisors LLC boosted its stake in BioLife Solutions by 24.2% in the 4th quarter. Summit Creek Advisors LLC now owns 238,802 shares of the medical equipment provider’s stock valued at $5,774,000 after purchasing an additional 46,541 shares during the period. Capricorn Fund Managers Ltd bought a new stake in BioLife Solutions in the 4th quarter valued at $9,153,000. Vanguard Group Inc. grew its holdings in BioLife Solutions by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 3,087,386 shares of the medical equipment provider’s stock valued at $74,653,000 after buying an additional 119,868 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in BioLife Solutions in the 1st quarter valued at $874,000. Institutional investors own 93.24% of the company’s stock.

BioLife Solutions Trading Down 1.5%

The stock has a market cap of $1.54 billion, a P/E ratio of -393.70 and a beta of 1.94. The firm has a 50-day simple moving average of $27.42 and a two-hundred day simple moving average of $23.65.

BioLife Solutions (NASDAQ:BLFS) last posted 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. The company had revenue of $27.50 million during the quarter, compared to the consensus estimate of $25.66 million. BioLife Solutions had a positive return on equity of 1.81% and a negative net margin of 2.80%. Sell-side analysts predict that BioLife Solutions, Inc. will post 0.03 earnings per share for the current year.

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.