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

BioLife Solutions, Inc. (NASDAQ:BLFS) has been assigned an average rating of “Hold” from the five research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $32.00.

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

Insider Activity

In related news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the stock in a transaction dated 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 transaction, the insider directly owned 4,757,165 shares in the company, valued at approximately $112,744,810.50. This trade represents a 12.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,200,000 shares of company stock worth $28,125,000 in the last ninety days. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BioLife Solutions

A number of institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC bought a new position in shares of BioLife Solutions in the 4th quarter valued at $30,000. Kemnay Advisory Services Inc. purchased a new stake in shares of BioLife Solutions in the fourth quarter worth approximately $35,000. State of Wyoming bought a new position in shares of BioLife Solutions during the 1st quarter worth approximately $52,000. Quarry LP boosted its stake in BioLife Solutions by 50.9% in the third quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock valued at $54,000 after acquiring an additional 713 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its position in BioLife Solutions by 42.4% during the fourth quarter. Hantz Financial Services Inc. now owns 2,673 shares of the medical equipment provider’s stock worth $65,000 after purchasing an additional 796 shares during the period. Institutional investors own 93.24% of the company’s stock.

BioLife Solutions Price Performance

Shares of NASDAQ:BLFS opened at $28.66 on Friday. The business’s fifty day moving average price is $24.03 and its two-hundred day moving average price is $22.99. BioLife Solutions has a fifty-two week low of $17.86 and a fifty-two week high of $29.81. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -358.14 and a beta of 2.00.

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. BioLife Solutions had a positive return on equity of 1.81% and a negative net margin of 2.80%.The firm had revenue of $27.50 million during the quarter, compared to analysts’ expectations of $25.66 million. Research analysts expect that BioLife Solutions will post 0.07 EPS for the current fiscal year.

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.