BioLife Solutions (NASDAQ:BLFS) Hits New 52-Week High - Still a Buy?

Key Points

• BioLife Solutions shares reached a new 52-week high of $33.26, recently trading at $33.14, up from a previous close of $32.52. The stock has risen above its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but leans cautious: the consensus rating is Hold, with a $31.38 target price, below the recent share price. Several firms downgraded the stock, although Zacks Research upgraded it to Strong Buy.
• The company exceeded quarterly expectations with $0.04 EPS versus $0.01 expected and revenue of $27.5 million versus $25.66 million forecast. However, insiders have sold $28.1 million of shares in the past 90 days, 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 during trading on Wednesday . The company traded as high as $33.26 and last traded at $33.14, with a volume of 197044 shares. The stock had previously closed at $32.52.

Analysts Set New Price Targets

BLFS has been the subject of several research reports. TD Cowen lowered shares of BioLife Solutions from a "buy" rating to a "hold" rating and cut their target price for the stock from $33.00 to $31.00 in a research report on Wednesday, July 22nd. Maxim Group cut BioLife Solutions from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. William Blair set a $31.00 price target on shares of BioLife Solutions in a research report on Thursday, July 23rd. Zacks Research raised shares of BioLife Solutions from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Finally, HC Wainwright cut BioLife Solutions from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $32.00 to $31.00 in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $31.38.

BioLife Solutions Stock Up 2.6%

The stock has a market cap of $1.63 billion, a PE ratio of -416.82 and a beta of 1.93. The business's 50-day simple moving average is $28.04 and its 200-day simple moving average is $23.86.

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 (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. The company had revenue of $27.50 million for the quarter, compared to analysts' expectations of $25.66 million. BioLife Solutions had a positive return on equity of 1.81% and a negative net margin of 2.80%. As a group, equities research analysts anticipate that BioLife Solutions, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BioLife Solutions news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $23.70, for a total transaction of $15,405,000.00. Following the transaction, the insider owned 4,757,165 shares in the company, valued at approximately $112,744,810.50. This represents a 12.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,200,000 shares of company stock valued at $28,125,000 in the last ninety days. Company insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On BioLife Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLFS. Global Retirement Partners LLC bought a new position in shares of BioLife Solutions in the fourth quarter worth approximately $30,000. Kemnay Advisory Services Inc. purchased a new position in shares of BioLife Solutions in the 4th quarter worth $35,000. State of Wyoming bought a new position in BioLife Solutions in the first quarter valued at about $52,000. Quarry LP increased its holdings in BioLife Solutions by 50.9% during 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. Finally, Hantz Financial Services Inc. grew its holdings in BioLife Solutions by 42.4% during the fourth quarter. Hantz Financial Services Inc. now owns 2,673 shares of the medical equipment provider's stock valued at $65,000 after purchasing an additional 796 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

About BioLife Solutions

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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