Hsbc Holdings PLC Acquires New Stake in BioLife Solutions, Inc. $BLFS

Hsbc Holdings PLC acquired a new stake in BioLife Solutions, Inc. (NASDAQ:BLFS) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 45,576 shares of the medical equipment provider’s stock, valued at approximately $874,000.

Several other hedge funds also recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. bought a new stake in shares of BioLife Solutions during the first quarter worth $283,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of BioLife Solutions by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,422 shares of the medical equipment provider’s stock valued at $489,000 after purchasing an additional 914 shares during the period. Jane Street Group LLC bought a new position in shares of BioLife Solutions in the first quarter worth about $1,091,000. Strs Ohio purchased a new position in BioLife Solutions in the 1st quarter worth about $153,000. Finally, Qube Research & Technologies Ltd lifted its holdings 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 buying an additional 238,533 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Stephens restated an “equal weight” rating and issued a $31.00 target price (down from $32.00) on shares of BioLife Solutions in a research note on Monday. Craig Hallum cut BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research note on Wednesday, July 22nd. HC Wainwright downgraded BioLife Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $32.00 to $31.00 in a report on Thursday, July 23rd. Zacks Research cut BioLife Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, Jefferies Financial Group cut BioLife Solutions from a “buy” rating to a “hold” rating and upped their target price for the stock from $30.00 to $31.00 in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.38.

BioLife Solutions Stock Performance

NASDAQ:BLFS opened at $31.50 on Thursday. BioLife Solutions, Inc. has a one year low of $17.86 and a one year high of $33.14. The firm 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 200-day simple moving average of $23.65.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings data on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $27.50 million for the quarter, compared to the consensus estimate of $25.66 million. On average, research analysts predict that BioLife Solutions, Inc. will post 0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other BioLife Solutions news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider owned 4,757,165 shares in the company, valued at $112,744,810.50. This represents a 12.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 1,200,000 shares of company stock worth $28,125,000 in the last ninety days. 2.20% of the stock is owned by corporate insiders.

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.