BioLife Solutions (NASDAQ:BLFS) Stock Rating Lowered by Wall Street Zen

BioLife Solutions (NASDAQ:BLFS) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other brokerages have also recently commented on BLFS. Craig Hallum cut BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research report on Wednesday. Lake Street Capital cut BioLife Solutions from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $33.00 to $31.00 in a report on Wednesday. Maxim Group downgraded BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. TD Cowen lowered BioLife Solutions from a “buy” rating to a “hold” rating and reduced their target price for the company from $33.00 to $31.00 in a report on Wednesday. Finally, Zacks Research cut BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BioLife Solutions presently has a consensus rating of “Hold” and a consensus target price of $31.43.

BioLife Solutions Stock Down 2.6%

BioLife Solutions stock opened at $29.98 on Friday. The firm has a 50 day moving average price of $26.94 and a 200-day moving average price of $23.55. BioLife Solutions has a twelve month low of $17.86 and a twelve month high of $32.23. The company has a market capitalization of $1.46 billion, a P/E ratio of -374.70 and a beta of 1.94.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings results on Thursday, May 7th. The medical equipment provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. BioLife Solutions had a negative net margin of 2.80% and a positive return on equity of 1.81%. The company had revenue of $27.50 million for the quarter, compared to analysts’ expectations of $25.66 million. Equities analysts expect that BioLife Solutions will post 0.02 EPS for the current fiscal 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 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 owned 4,757,165 shares of the company’s stock, valued at approximately $112,744,810.50. The trade was a 12.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 1,200,000 shares of company stock worth $28,125,000. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

A number of institutional investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its stake in shares of BioLife Solutions by 27.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,180,824 shares of the medical equipment provider’s stock worth $125,273,000 after buying an additional 1,113,972 shares during the period. Bank of America Corp DE grew its holdings in BioLife Solutions by 73.4% in 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 last quarter. Capricorn Fund Managers Ltd purchased a new position in shares of BioLife Solutions in the fourth quarter valued at about $9,153,000. Invesco Ltd. raised its stake in shares of BioLife Solutions by 9.2% during the fourth quarter. Invesco Ltd. now owns 3,932,191 shares of the medical equipment provider’s stock valued at $95,080,000 after acquiring an additional 332,747 shares during the last quarter. Finally, Granahan Investment Management LLC raised its stake in shares of BioLife Solutions by 49.7% during the first quarter. Granahan Investment Management LLC now owns 722,057 shares of the medical equipment provider’s stock valued at $13,777,000 after acquiring an additional 239,701 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

BioLife Solutions News Summary

Here are the key news stories impacting BioLife Solutions this week:

• Positive Sentiment: HC Wainwright reiterated a Neutral rating and a $31 price target while forecasting modest earnings growth for BioLife Solutions through 2027, which suggests analysts still see some upside from current levels. HC Wainwright earnings estimates and rating for BioLife Solutions
• Neutral Sentiment: Repligen’s planned acquisition of BioLife Solutions is being framed as strategically positive for Repligen’s cell therapy business, and the deal could provide a clear exit value for BLFS shareholders if completed. Zacks article on Repligen buying BioLife Solutions
• Negative Sentiment: Maxim Group downgraded BioLife Solutions (BLFS) from strong-buy to hold, adding pressure on the stock and signaling less enthusiasm from analysts. Maxim Group downgrade coverage via Zacks
• Negative Sentiment: Kahn Swick & Foti said it is investigating the adequacy of the price and process in BioLife’s proposed sale to Repligen, raising the risk of shareholder litigation or a challenged deal process. BusinessWire investor alert on BioLife Solutions sale investigation
• Negative Sentiment: TD Cowen also downgraded BioLife Solutions (BLFS) to hold, reinforcing the cautious tone around the stock after the acquisition announcement. TD Cowen downgrade on BioLife Solutions

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.