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

BioLife Solutions, Inc. (NASDAQ:BLFS) has earned a consensus rating of “Hold” from the five research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $32.00.

A number of research firms recently commented on BLFS. Zacks Research downgraded shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of BioLife Solutions in a report on Monday, April 20th. Finally, Wall Street Zen raised shares of BioLife Solutions from a “hold” rating to a “buy” rating in a report on Saturday, February 28th.

Insider Activity

In related news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the company’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 transaction, the insider owned 4,757,165 shares of the company’s stock, valued at approximately $112,744,810.50. This represents a 12.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Karen A. Foster sold 96,923 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $20.15, for a total transaction of $1,952,998.45. Following the transaction, the insider directly owned 113,742 shares in the company, valued at $2,291,901.30. The trade was a 46.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,297,423 shares of company stock worth $30,087,998 in the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new position in shares of BioLife Solutions in the 4th quarter worth about $30,000. Kemnay Advisory Services Inc. bought a new position in shares of BioLife Solutions in the 4th quarter worth about $35,000. Hantz Financial Services Inc. lifted its position in shares of BioLife Solutions by 54.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,877 shares of the medical equipment provider’s stock worth $48,000 after buying an additional 659 shares during the last quarter. Quarry LP lifted its position in shares of BioLife Solutions by 50.9% in the 3rd quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock worth $54,000 after buying an additional 713 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of BioLife Solutions in the 1st quarter worth about $52,000. 93.24% of the stock is currently owned by institutional investors.

BioLife Solutions Stock Up 6.9%

Shares of BioLife Solutions stock opened at $26.63 on Tuesday. BioLife Solutions has a 52-week low of $17.86 and a 52-week high of $29.62. The company’s 50-day simple moving average is $21.40 and its 200-day simple moving average is $22.84. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -332.83 and a beta of 2.00.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings results on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $27.50 million for 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%. Equities research analysts anticipate that BioLife Solutions will post 0.09 EPS for the current year.

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.