Shares of BioLife Solutions, Inc. (NASDAQ:BLFS – Get Free Report) shot up 6.8% on Thursday . The company traded as high as $27.67 and last traded at $27.3070. Approximately 227,779 shares changed hands during trading, a decline of 54% from the average daily volume of 492,285 shares. The stock had previously closed at $25.57.
Analyst Upgrades and Downgrades
Several research firms have commented on BLFS. Wall Street Zen raised BioLife Solutions from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of BioLife Solutions in a report on Monday, April 20th. Finally, Zacks Research cut BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.00.
Check Out Our Latest Stock Analysis on BLFS
BioLife Solutions Trading Up 4.2%
BioLife Solutions (NASDAQ:BLFS – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The medical equipment provider reported $0.04 EPS for the quarter, beating the consensus estimate 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 business had revenue of $27.50 million for the quarter, compared to analyst estimates of $25.66 million. On average, equities analysts expect that BioLife Solutions, Inc. will post 0.07 EPS for the current year.
Insider Buying and Selling at BioLife Solutions
In other news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $23.70, for a total value of $15,405,000.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 1,200,000 shares of company stock valued at $28,125,000. 2.20% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC bought a new stake in BioLife Solutions during the 4th quarter worth approximately $30,000. Kemnay Advisory Services Inc. bought a new position in BioLife Solutions in the 4th quarter valued at $35,000. State of Wyoming acquired a new position in BioLife Solutions in the first quarter worth $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 worth $54,000 after purchasing an additional 713 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in shares of 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 last quarter. Institutional investors own 93.24% of the company’s stock.
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.
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