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

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have been given a consensus rating of “Hold” by the five research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $33.00.

A number of analysts have recently weighed in on BLFS shares. Weiss Ratings restated a “sell (d-)” rating on shares of BioLife Solutions in a research note on Friday. Lake Street Capital lowered shares of BioLife Solutions to a “hold” rating in a report on Wednesday. Finally, Zacks Research cut shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th.

BioLife Solutions Stock Performance

Shares of NASDAQ BLFS traded up $1.93 during mid-day trading on Wednesday, hitting $31.12. 6,881,774 shares of the stock were exchanged, compared to its average volume of 619,468. BioLife Solutions has a twelve month low of $17.86 and a twelve month high of $31.49. The stock’s fifty day simple moving average is $26.36 and its two-hundred day simple moving average is $23.40. The company has a market cap of $1.52 billion, a P/E ratio of -389.14 and a beta of 1.94.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings results 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 firm 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, equities research analysts predict that BioLife Solutions will post 0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at BioLife Solutions

In related 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 value 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 document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 1,200,000 shares of company stock valued at $28,125,000 over the last three months. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in BioLife Solutions by 36.6% in the second quarter. GAMMA Investing LLC now owns 8,996 shares of the medical equipment provider’s stock valued at $254,000 after acquiring an additional 2,410 shares during the last quarter. Bank of America Corp DE grew its holdings in 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 during the period. Royal Bank of Canada increased its position in shares of BioLife Solutions by 8.1% during the first quarter. Royal Bank of Canada now owns 885,298 shares of the medical equipment provider’s stock worth $16,891,000 after acquiring an additional 66,010 shares in the last quarter. Granahan Investment Management LLC grew its stake 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. Finally, Cannell & Spears LLC increased its holdings in BioLife Solutions by 3.2% during the first quarter. Cannell & Spears LLC now owns 26,261 shares of the medical equipment provider’s stock worth $493,000 after buying an additional 825 shares during 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.