BioLife Solutions (NASDAQ:BLFS) Hits New 1-Year High – Here’s What Happened

BioLife Solutions, Inc. (NASDAQ:BLFS) hit a new 52-week high on Monday . The stock traded as high as $35.41 and last traded at $35.39, with a volume of 226167 shares. The stock had previously closed at $35.07.

Analyst Ratings Changes

BLFS has been the topic of a number of analyst reports. TD Cowen lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating and lowered their price objective for the company from $33.00 to $31.00 in a research report on Wednesday, July 22nd. Benchmark cut shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. Zacks Research upgraded shares of BioLife Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Stephens reiterated an “equal weight” rating and set a $31.00 price target (down from $32.00) on shares of BioLife Solutions in a research note on Monday, July 27th. Finally, Wall Street Zen cut shares of BioLife Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.38.

BioLife Solutions Stock Performance

The company has a market capitalization of $1.71 billion, a PE ratio of 30.12 and a beta of 1.93. The firm’s 50-day simple moving average is $29.72 and its 200 day simple moving average is $24.57.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.88. The business had revenue of $28.47 million during the quarter, compared to the consensus estimate of $27.80 million. BioLife Solutions had a net margin of 53.29% and a return on equity of 2.70%. As a group, equities analysts anticipate that BioLife Solutions, Inc. will post 0.03 earnings per share for the current year.

Insider Activity

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 stock was 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 of the company’s stock, valued at $112,744,810.50. The trade was a 12.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in shares of BioLife Solutions in the 4th quarter worth about $30,000. Kemnay Advisory Services Inc. acquired a new position in shares of BioLife Solutions during the 4th quarter worth approximately $35,000. State of Wyoming purchased a new stake in BioLife Solutions during the 1st quarter worth about $52,000. Quarry LP increased its position in BioLife Solutions by 50.9% during the 3rd quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock worth $54,000 after purchasing an additional 713 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in BioLife Solutions by 42.4% in the 4th quarter. Hantz Financial Services Inc. now owns 2,673 shares of the medical equipment provider’s stock valued at $65,000 after purchasing an additional 796 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.