BioLife Solutions (NASDAQ:BLFS) Reaches New 52-Week High – Still a Buy?
by Renee Jackson · The Cerbat GemBioLife Solutions, Inc. (NASDAQ:BLFS – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $34.93 and last traded at $34.64, with a volume of 447920 shares changing hands. The stock had previously closed at $34.66.
Analyst Upgrades and Downgrades
BLFS has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioLife Solutions in a research report on Friday, July 17th. Maxim Group lowered shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. TD Cowen cut shares of BioLife Solutions from a “buy” rating to a “hold” rating and cut their target price for the stock from $33.00 to $31.00 in a research note on Wednesday, July 22nd. Benchmark cut shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Monday. Finally, William Blair set a $31.00 target price on shares of BioLife Solutions in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, BioLife Solutions currently has a consensus rating of “Hold” and an average price target of $31.38.
Read Our Latest Stock Analysis on BioLife Solutions
BioLife Solutions Stock Performance
The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 30.15 and a beta of 1.93. The company has a fifty day moving average of $29.05 and a two-hundred day moving average of $24.27.
BioLife Solutions (NASDAQ:BLFS – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.88. BioLife Solutions had a return on equity of 2.70% and a net margin of 53.29%.The firm had revenue of $28.47 million for the quarter, compared to analyst estimates of $27.80 million. Equities analysts forecast that BioLife Solutions, Inc. will post 0.03 EPS for the current year.
Insider Activity at BioLife Solutions
In related news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the firm’s stock in a transaction dated 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 directly owned 4,757,165 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 1,200,000 shares of company stock valued at $28,125,000 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. boosted 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 valued at $125,273,000 after buying an additional 1,113,972 shares during the period. Bank of America Corp DE increased its stake in BioLife Solutions by 73.4% during 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 period. Invesco Ltd. increased its stake in BioLife Solutions by 9.2% during the 4th quarter. Invesco Ltd. now owns 3,932,191 shares of the medical equipment provider’s stock worth $95,080,000 after acquiring an additional 332,747 shares during the period. Granahan Investment Management LLC raised its holdings in BioLife Solutions by 49.7% in the 1st 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 in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in BioLife Solutions by 2,399.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 248,474 shares of the medical equipment provider’s stock valued at $5,352,000 after acquiring an additional 238,533 shares in the last quarter. 93.24% of the stock is owned by institutional investors.
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.