Shares of BioLife Solutions, Inc. (NASDAQ:BLFS – Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $32.59 and last traded at $33.1010, with a volume of 204944 shares traded. The stock had previously closed at $29.79.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on BLFS shares. Maxim Group cut BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. William Blair set a $31.00 target price on shares of BioLife Solutions in a research note on Thursday, July 23rd. Craig Hallum downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Wednesday, July 22nd. HC Wainwright downgraded shares of BioLife Solutions from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $32.00 to $31.00 in a report on Thursday. Finally, Stephens reissued an “equal weight” rating and set a $31.00 target price (down from $32.00) on shares of BioLife Solutions in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.38.
Check Out Our Latest Stock Analysis on BLFS
BioLife Solutions Stock Performance
BioLife Solutions (NASDAQ:BLFS – Get Free Report) last posted its 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 negative net margin of 2.80% and a positive return on equity of 1.81%. The business had revenue of $27.50 million for the quarter, compared to analysts’ expectations of $25.66 million. On average, equities research analysts expect that BioLife Solutions, Inc. will post 0.03 earnings per share for the current fiscal year.
Insider Activity
In other news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $23.70, for a total value of $15,405,000.00. Following the completion of the transaction, the insider directly 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 1,200,000 shares of company stock valued at $28,125,000. Corporate insiders own 2.20% of the company’s stock.
Institutional Trading of BioLife Solutions
A number of large investors have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. raised its stake in BioLife Solutions by 27.4% during 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 acquiring an additional 1,113,972 shares in the last quarter. Invesco Ltd. increased its position in shares of 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 purchasing an additional 332,747 shares in the last quarter. Vanguard Group Inc. boosted its position in BioLife Solutions by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 3,087,386 shares of the medical equipment provider’s stock valued at $74,653,000 after buying an additional 119,868 shares in the last quarter. State Street Corp boosted its position in BioLife Solutions by 3.4% in the fourth quarter. State Street Corp now owns 1,505,593 shares of the medical equipment provider’s stock valued at $36,405,000 after buying an additional 49,028 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in BioLife Solutions by 11.3% during the second quarter. Ameriprise Financial Inc. now owns 1,080,371 shares of the medical equipment provider’s stock worth $23,271,000 after buying an additional 109,959 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.
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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