BioLife Solutions (NASDAQ:BLFS) Hits New 12-Month High - Time to Buy?

Key Points

• BioLife Solutions shares reached a new 52-week high of $34.93, despite trading nearly flat at $34.64. The stock has risen above its 50-day and 200-day moving averages.
• The company reported a strong quarterly performance, with earnings of $0.91 per share versus the $0.03 consensus estimate and revenue of $28.47 million, ahead of expectations.
• Analyst sentiment remains mixed: the consensus rating is Hold with a $31.38 price target, below the current share price. Insiders have sold $28.1 million worth of shares over the past quarter, while institutional investors own 93.24% of the stock.

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $34.93 and last traded at $34.64, with a volume of 447920 shares trading hands. The stock had previously closed at $34.66.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BLFS shares. Zacks Research raised BioLife Solutions from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. HC Wainwright lowered BioLife Solutions from a "buy" rating to a "neutral" rating and cut their target price for the company from $32.00 to $31.00 in a research note on Thursday, July 23rd. William Blair set a $31.00 target price on BioLife Solutions in a report on Thursday, July 23rd. Lake Street Capital lowered BioLife Solutions from a "buy" rating to a "hold" rating and decreased their target price for the stock from $33.00 to $31.00 in a research report on Wednesday, July 22nd. Finally, TD Cowen cut BioLife Solutions from a "buy" rating to a "hold" rating and lowered their price target for the company from $33.00 to $31.00 in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $31.38.

BioLife Solutions Stock Down 0.1%

The company has a market capitalization of $1.69 billion, a P/E ratio of 29.86 and a beta of 1.93. The firm has a fifty day simple moving average of $28.75 and a 200-day simple moving average of $24.14.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.88. The business had revenue of $28.47 million for the quarter, compared to analysts' expectations of $27.80 million. BioLife Solutions had a return on equity of 2.70% and a net margin of 53.29%. On average, sell-side analysts predict that BioLife Solutions, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Activity at BioLife Solutions

In related news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the business's stock in a transaction on 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 directly owned 4,757,165 shares of the company's stock, valued at approximately $112,744,810.50. The trade was a 12.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 1,200,000 shares of company stock worth $28,125,000 in the last quarter. Company insiders own 2.20% of the company's stock.

Institutional Trading of BioLife Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its stake in BioLife Solutions by 2.7% during the second quarter. The Manufacturers Life Insurance Company now owns 20,764 shares of the medical equipment provider's stock worth $447,000 after buying an additional 555 shares in the last quarter. Isthmus Partners LLC boosted its position in BioLife Solutions by 0.5% in the fourth quarter. Isthmus Partners LLC now owns 138,393 shares of the medical equipment provider's stock valued at $3,346,000 after buying an additional 622 shares in the last quarter. Thrivent Financial for Lutherans grew its position in BioLife Solutions by 2.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 27,278 shares of the medical equipment provider's stock worth $588,000 after acquiring an additional 702 shares during the last quarter. Quarry LP grew its holdings in shares of BioLife Solutions by 50.9% during 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 during the last quarter. Finally, Millennium Management LLC increased its position in BioLife Solutions by 2.9% in the 3rd quarter. Millennium Management LLC now owns 27,698 shares of the medical equipment provider's stock valued at $707,000 after acquiring an additional 783 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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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