BioLife Solutions (NASDAQ:BLFS) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of BioLife Solutions (NASDAQ:BLFS) from a buy rating to a hold rating in a research report report published on Saturday.

A number of other analysts have also recently weighed in on BLFS. Weiss Ratings restated a “sell (d-)” rating on shares of BioLife Solutions in a report on Friday, July 17th. Craig Hallum cut BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Wednesday, July 22nd. TD Cowen cut BioLife Solutions from a “buy” rating to a “hold” rating and dropped their price target for the company from $33.00 to $31.00 in a report on Wednesday, July 22nd. HC Wainwright downgraded BioLife Solutions from a “buy” rating to a “neutral” rating and cut their price objective for the company from $32.00 to $31.00 in a research report on Thursday. Finally, Lake Street Capital lowered BioLife Solutions from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $33.00 to $31.00 in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $31.38.

BioLife Solutions Trading Down 0.6%

Shares of BioLife Solutions stock opened at $29.79 on Friday. BioLife Solutions has a 52 week low of $17.86 and a 52 week high of $32.23. The stock has a market cap of $1.46 billion, a PE ratio of -372.33 and a beta of 1.94. The company’s 50-day moving average price is $27.09 and its two-hundred day moving average price is $23.56.

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

Insider Buying and Selling at BioLife Solutions

In other 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 1,200,000 shares of company stock valued at $28,125,000 over the last quarter. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLFS. T. Rowe Price Investment Management Inc. raised its stake in BioLife Solutions by 27.4% during 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 purchasing an additional 1,113,972 shares during the period. Bank of America Corp DE boosted its position in shares of BioLife Solutions by 73.4% in the first quarter. Bank of America Corp DE now owns 904,103 shares of the medical equipment provider’s stock worth $17,250,000 after buying an additional 382,776 shares during the period. Capricorn Fund Managers Ltd acquired a new stake in shares of BioLife Solutions in the fourth quarter worth $9,153,000. Invesco Ltd. grew its holdings in shares of BioLife Solutions by 9.2% during the fourth quarter. Invesco Ltd. now owns 3,932,191 shares of the medical equipment provider’s stock valued at $95,080,000 after buying an additional 332,747 shares in the last quarter. Finally, Granahan Investment Management LLC grew its holdings in shares of BioLife Solutions by 49.7% during the first quarter. Granahan Investment Management LLC now owns 722,057 shares of the medical equipment provider’s stock valued at $13,777,000 after buying 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.