BioLife Solutions (NASDAQ:BLFS) Hits New 1-Year High - Still a Buy?

Key Points

• BioLife Solutions hit a new 52-week high, trading as high as $30.15 and last changing hands near $29.84, up about 2% on the day.
• Analyst sentiment is mixed but cautious: the stock carries an average "Hold" rating and a consensus target price of $32.00 after recent downgrades from Zacks Research and Weiss Ratings.
• Recent earnings beat expectations, with Q1 EPS of $0.04 versus the $0.01 estimate and revenue of $27.5 million, while insiders also trimmed holdings through a large share sale in May.

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $30.15 and last traded at $29.8350, with a volume of 231829 shares traded. The stock had previously closed at $29.15.

Analyst Ratings Changes

BLFS has been the subject of a number of research analyst reports. Zacks Research cut BioLife Solutions from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of BioLife Solutions in a research note on Monday, April 20th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, BioLife Solutions presently has an average rating of "Hold" and a consensus target price of $32.00.

BioLife Solutions Stock Up 2.0%

The company's fifty day moving average is $25.77 and its two-hundred day moving average is $23.27. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -371.89 and a beta of 1.94.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. The business had revenue of $27.50 million during the quarter, compared to analysts' expectations of $25.66 million. BioLife Solutions had a negative net margin of 2.80% and a positive return on equity of 1.81%. Sell-side analysts predict that BioLife Solutions, Inc. will post 0.02 EPS for the current fiscal year.

Insider Buying and Selling at BioLife Solutions

In related 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 stock was sold at an average price of $23.70, for a total value of $15,405,000.00. Following the completion of the sale, the insider directly owned 4,757,165 shares of the company's stock, valued at $112,744,810.50. This represents a 12.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 1,200,000 shares of company stock valued at $28,125,000. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BioLife Solutions

A number of hedge funds have recently modified their holdings of BLFS. Global Retirement Partners LLC purchased a new stake in BioLife Solutions in the 4th quarter valued at $30,000. Kemnay Advisory Services Inc. acquired a new position in BioLife Solutions in the fourth quarter valued at $35,000. Quarry LP raised its holdings in shares of BioLife Solutions by 50.9% in the third quarter. Quarry LP now owns 2,113 shares of the medical equipment provider's stock valued at $54,000 after buying an additional 713 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of BioLife Solutions by 42.4% in the fourth quarter. Hantz Financial Services Inc. now owns 2,673 shares of the medical equipment provider's stock valued at $65,000 after buying an additional 796 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of BioLife Solutions during the first quarter worth about $52,000. 93.24% of the stock is currently owned by hedge funds and other 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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