BioLife Solutions (BLFS) Coverage Initiated at Northland Securities

Equities research analysts at Northland Securities initiated coverage on shares of BioLife Solutions (NASDAQ:BLFS) in a research note issued to investors on Monday, The Fly reports. The brokerage set an “outperform” rating on the medical equipment provider’s stock.

Separately, Maxim Group set a $8.00 price objective on BioLife Solutions and gave the stock a “buy” rating in a report on Friday.

Shares of BioLife Solutions (BLFS) traded down $0.20 during trading on Monday, hitting $5.40. The company’s stock had a trading volume of 58,318 shares, compared to its average volume of 57,746. BioLife Solutions has a 12 month low of $1.95 and a 12 month high of $7.53. The company has a market capitalization of $79.08, a P/E ratio of -25.71 and a beta of 0.38.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings results on Thursday, March 8th. The medical equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The business had revenue of $3.13 million during the quarter, compared to the consensus estimate of $3.10 million. BioLife Solutions had a negative return on equity of 44.83% and a negative net margin of 22.82%. sell-side analysts predict that BioLife Solutions will post -0.1 earnings per share for the current fiscal year.

In related news, CEO Michael Rice sold 12,540 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $5.26, for a total transaction of $65,960.40. Following the completion of the transaction, the chief executive officer now directly owns 152,057 shares in the company, valued at $799,819.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 36.80% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. EAM Investors LLC bought a new position in shares of BioLife Solutions during the third quarter worth about $555,000. Granite Investment Partners LLC bought a new position in shares of BioLife Solutions during the third quarter worth about $1,205,000. Essex Investment Management Co. LLC grew its holdings in shares of BioLife Solutions by 199.8% during the fourth quarter. Essex Investment Management Co. LLC now owns 254,096 shares of the medical equipment provider’s stock worth $1,525,000 after buying an additional 169,341 shares in the last quarter. Wells Fargo & Company MN acquired a new position in BioLife Solutions during the fourth quarter valued at approximately $111,000. Finally, Millennium Management LLC boosted its position in BioLife Solutions by 901.6% during the fourth quarter. Millennium Management LLC now owns 182,550 shares of the medical equipment provider’s stock valued at $1,095,000 after purchasing an additional 164,324 shares during the last quarter. Institutional investors and hedge funds own 12.19% of the company’s stock.

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About BioLife Solutions

BioLife Solutions, Inc (BioLife) is engaged in the developing, manufacturing and marketing a portfolio of biopreservation tools and services for cells, tissues and organs, including clinical grade cell and tissue hypothermic storage and cryopreservation freeze media and a related cloud hosted biologistics cold chain management application for shippers.

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