BioLife Solutions (NASDAQ:BLFS) Coverage Initiated at Stephens

Analysts at Stephens initiated coverage on shares of BioLife Solutions (NASDAQ:BLFS - Get Free Report) in a research note issued to investors on Tuesday. The firm set an "overweight" rating and a $30.00 price target on the medical equipment provider's stock. Stephens' target price would suggest a potential upside of 40.49% from the company's current price.

Several other brokerages have also issued reports on BLFS. HC Wainwright restated a "buy" rating and set a $30.00 target price on shares of BioLife Solutions in a research report on Tuesday, May 13th. Wall Street Zen cut shares of BioLife Solutions from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

BioLife Solutions Price Performance

Shares of BioLife Solutions stock traded up $0.59 during trading on Tuesday, reaching $21.35. The company's stock had a trading volume of 77,137 shares, compared to its average volume of 466,064. The company has a market capitalization of $1.02 billion, a P/E ratio of -73.81 and a beta of 1.79. The business has a 50 day moving average price of $22.17 and a 200-day moving average price of $24.12. BioLife Solutions has a 12-month low of $19.10 and a 12-month high of $29.55. The company has a quick ratio of 3.74, a current ratio of 4.73 and a debt-to-equity ratio of 0.01.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.07. The business had revenue of $23.94 million during the quarter, compared to analyst estimates of $22.22 million. BioLife Solutions had a negative return on equity of 0.66% and a negative net margin of 11.81%. As a group, sell-side analysts anticipate that BioLife Solutions will post -0.3 EPS for the current year.

Insider Activity

In related news, major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares of BioLife Solutions stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $23.80, for a total transaction of $23,800,000.00. Following the completion of the transaction, the insider owned 7,707,165 shares in the company, valued at approximately $183,430,527. This trade represents a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 1,007,716 shares of company stock valued at $23,975,998. 2.20% of the stock is owned by company insiders.

Institutional Trading of BioLife Solutions

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of BioLife Solutions by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 4,223 shares of the medical equipment provider's stock worth $96,000 after buying an additional 663 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of BioLife Solutions by 21.6% during the 1st quarter. SG Americas Securities LLC now owns 19,136 shares of the medical equipment provider's stock worth $437,000 after buying an additional 3,405 shares in the last quarter. Rhumbline Advisers lifted its position in shares of BioLife Solutions by 0.7% during the 1st quarter. Rhumbline Advisers now owns 83,227 shares of the medical equipment provider's stock worth $1,901,000 after buying an additional 566 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of BioLife Solutions by 13.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,686 shares of the medical equipment provider's stock worth $1,835,000 after purchasing an additional 8,258 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of BioLife Solutions by 11.9% in the 4th quarter. Alliancebernstein L.P. now owns 37,351 shares of the medical equipment provider's stock worth $970,000 after purchasing an additional 3,967 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.

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