BioLife Solutions (NASDAQ:BLFS) Posts Earnings Results, Beats Estimates By $0.88 EPS

Key Points

• BioLife Solutions beat quarterly earnings expectations, reporting $0.91 in EPS versus the $0.03 consensus estimate. Revenue reached $28.47 million, slightly above analysts’ $27.80 million forecast.
• Shares rose 0.4% to $33.93, near the company’s 12-month high of $34.34. Institutional investors own 93.24% of the stock, while insiders sold 1.2 million shares worth $28.1 million in the last quarter.
• Analyst sentiment has weakened, with several firms downgrading the stock to “hold” or “neutral” and lowering price targets. The consensus rating is “Hold,” with an average target price of $31.38.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) released its quarterly earnings results on Thursday. The medical equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.88, FiscalAI reports. The business had revenue of $28.47 million for the quarter, compared to analysts' expectations of $27.80 million. BioLife Solutions had a negative net margin of 2.80% and a positive return on equity of 1.81%.

BioLife Solutions Stock Up 0.4%

Shares of NASDAQ:BLFS traded up $0.13 during midday trading on Thursday, reaching $33.93. 461,485 shares of the company traded hands, compared to its average volume of 1,571,188. BioLife Solutions has a 12 month low of $17.86 and a 12 month high of $34.34. The firm's fifty day moving average price is $28.40 and its two-hundred day moving average price is $24.00. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -424.07 and a beta of 1.93.

Insider Buying and Selling at BioLife Solutions

In other news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the stock in a transaction dated 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. This represents a 12.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 1,200,000 shares of company stock worth $28,125,000 in the last quarter. Corporate insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. bought a new position in shares of BioLife Solutions in the first quarter worth $283,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in BioLife Solutions by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,422 shares of the medical equipment provider's stock worth $489,000 after acquiring an additional 914 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of BioLife Solutions in the 1st quarter valued at about $1,091,000. Strs Ohio bought a new stake in shares of BioLife Solutions during the 1st quarter valued at about $153,000. Finally, Qube Research & Technologies Ltd grew its holdings in shares of BioLife Solutions by 2,399.5% during the second quarter. Qube Research & Technologies Ltd now owns 248,474 shares of the medical equipment provider's stock worth $5,352,000 after purchasing an additional 238,533 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Lake Street Capital downgraded 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 note on Wednesday, July 22nd. Craig Hallum cut BioLife Solutions from a "buy" rating to a "hold" rating and set a $31.00 price objective on the stock. in a research report on Wednesday, July 22nd. HC Wainwright lowered BioLife Solutions from a "buy" rating to a "neutral" rating and decreased their target price for the company from $32.00 to $31.00 in a research report on Thursday, July 23rd. Stephens reiterated an "equal weight" rating and set a $31.00 target price (down from $32.00) on shares of BioLife Solutions in a research note on Monday, July 27th. Finally, Maxim Group lowered shares of BioLife Solutions from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. One 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $31.38.

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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