BioLife Solutions (NASDAQ:BLFS) Reaches New 12-Month High - Should You Buy?

Key Points

• BioLife Solutions shares reached a new 52-week high of $35.41, giving the company a market capitalization of approximately $1.73 billion.
• Recent quarterly results were strong: the company reported $0.91 in EPS versus the $0.03 consensus estimate and revenue of $28.47 million, slightly ahead of expectations.
• Despite the earnings beat, analysts have broadly downgraded the stock to “Hold.” The average price target is $31.38, below the recent share price, while insiders sold approximately $28.1 million of stock during the last quarter.

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as $35.41 and last traded at $35.39, with a volume of 226167 shares trading hands. The stock had previously closed at $35.07.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BLFS shares. Jefferies Financial Group downgraded shares of BioLife Solutions from a "buy" rating to a "hold" rating and lifted their target price for the stock from $30.00 to $31.00 in a research note on Thursday, July 23rd. Craig Hallum downgraded BioLife Solutions from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a report on Wednesday, July 22nd. TD Cowen lowered BioLife Solutions from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $33.00 to $31.00 in a research report on Wednesday, July 22nd. Maxim Group downgraded BioLife Solutions from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. Finally, Wall Street Zen cut BioLife Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, BioLife Solutions presently has an average rating of "Hold" and an average price target of $31.38.

BioLife Solutions Price Performance

The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 30.46 and a beta of 1.93. The business's fifty day simple moving average is $29.39 and its 200 day simple moving average is $24.41.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.88. BioLife Solutions had a net margin of 53.29% and a return on equity of 2.70%. The company had revenue of $28.47 million for the quarter, compared to analysts' expectations of $27.80 million. Equities research analysts expect that BioLife Solutions, Inc. will post 0.03 earnings per share 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 BioLife Solutions 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 completion of the sale, the insider owned 4,757,165 shares of the company's stock, valued at approximately $112,744,810.50. This trade represents a 12.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 1,200,000 shares of company stock worth $28,125,000 over the last quarter. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BLFS. T. Rowe Price Investment Management Inc. increased its holdings in BioLife Solutions by 27.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,180,824 shares of the medical equipment provider's stock worth $125,273,000 after purchasing an additional 1,113,972 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of BioLife Solutions by 73.4% in the first quarter. Bank of America Corp DE now owns 904,103 shares of the medical equipment provider's stock valued at $17,250,000 after purchasing an additional 382,776 shares in the last quarter. Invesco Ltd. boosted its position in shares of BioLife Solutions by 9.2% during the fourth quarter. Invesco Ltd. now owns 3,932,191 shares of the medical equipment provider's stock valued at $95,080,000 after buying an additional 332,747 shares during the last quarter. Granahan Investment Management LLC boosted its position in shares of BioLife Solutions by 49.7% during the first quarter. Granahan Investment Management LLC now owns 722,057 shares of the medical equipment provider's stock valued at $13,777,000 after buying an additional 239,701 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in 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 buying an additional 238,533 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company's stock.

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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