BioLife Solutions, Inc. (NASDAQ:BLFS) Receives Consensus Rating of "Buy" from Analysts

Key Points

• BioLife Solutions, Inc. has received an average rating of "Buy" from eight brokerages, with seven analysts recommending a buy and one a strong buy, and a 1-year price target averaging $31.29.
• The company reported a quarterly earnings loss of ($0.33) EPS, missing analyst estimates, though its revenue of $25.42 million exceeded expectations.
• Major shareholder Casdin Partners sold 500,000 shares, leading to a 6.94% decrease in their overall ownership, amidst a general trend of hedge funds increasing stakes in the company.

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) have been assigned an average rating of "Buy" from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $31.2857.

Several analysts have recently issued reports on the stock. Zacks Research raised shares of BioLife Solutions to a "strong-buy" rating in a research report on Monday, August 11th. Stephens started coverage on shares of BioLife Solutions in a research note on Tuesday, July 22nd. They set an "overweight" rating and a $30.00 target price on the stock. Finally, HC Wainwright restated a "buy" rating and set a $32.00 target price (up from $30.00) on shares of BioLife Solutions in a research note on Friday, August 8th.

BioLife Solutions Stock Performance

Shares of BLFS opened at $24.11 on Thursday. The stock has a market capitalization of $1.15 billion, a PE ratio of -200.90 and a beta of 1.78. BioLife Solutions has a 1 year low of $19.10 and a 1 year high of $29.55. The company's 50-day simple moving average is $24.04 and its 200-day simple moving average is $23.32.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.31). The business had revenue of $25.42 million for the quarter, compared to analyst estimates of $23.71 million. BioLife Solutions had a positive return on equity of 0.16% and a negative net margin of 5.39%. BioLife Solutions has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that BioLife Solutions will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Casdin Partners Master Fund, L sold 500,000 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $24.40, for a total transaction of $12,200,000.00. Following the sale, the insider directly owned 6,707,165 shares in the company, valued at approximately $163,654,826. This represents a 6.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Todd Berard sold 10,000 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $25.53, for a total transaction of $255,300.00. Following the sale, the chief marketing officer owned 124,618 shares in the company, valued at $3,181,497.54. The trade was a 7.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,019,198 shares of company stock worth $23,981,317. Company insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On BioLife Solutions

Several hedge funds have recently added to or reduced their stakes in BLFS. State of Wyoming increased its stake in BioLife Solutions by 353.1% in the first quarter. State of Wyoming now owns 1,912 shares of the medical equipment provider's stock valued at $44,000 after purchasing an additional 1,490 shares during the last quarter. US Bancorp DE increased its stake in BioLife Solutions by 243.7% in the first quarter. US Bancorp DE now owns 2,155 shares of the medical equipment provider's stock valued at $49,000 after purchasing an additional 1,528 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in BioLife Solutions by 12.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,873 shares of the medical equipment provider's stock valued at $83,000 after purchasing an additional 441 shares during the last quarter. GAMMA Investing LLC increased its stake in BioLife Solutions by 18.6% in the first quarter. GAMMA Investing LLC now owns 4,223 shares of the medical equipment provider's stock valued at $96,000 after purchasing an additional 663 shares during the last quarter. Finally, AlphaQuest LLC purchased a new position in BioLife Solutions in the second quarter valued at approximately $149,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

About BioLife Solutions

BioLife Solutions, Inc develops, manufactures, and markets bioproduction tools and services for the cell and gene therapy (CGT) industry in the United States, Europe, the Middle East, Africa, and internationally. The company's products are used in the basic and applied research, and commercial manufacturing of biologic-based therapies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.