BioLife Solutions (NASDAQ:BLFS) Sets New 12-Month High - Here's Why

Key Points

• BioLife Solutions hit a new 52-week high, trading as high as $31.49 after closing at $29.19, reflecting strong recent momentum in the stock.
• The company’s latest quarterly results beat expectations, with earnings of $0.04 per share versus $0.01 expected and revenue of $27.5 million versus $25.66 million estimated.
• Analyst sentiment remains mixed, with an overall Hold rating and an average target price of $33.00, while some recent reports downgraded the stock and one firm reiterated a sell rating.

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $31.49 and last traded at $31.0410, with a volume of 2188010 shares traded. The stock had previously closed at $29.19.

Wall Street Analysts Forecast Growth

BLFS has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of BioLife Solutions in a report on Friday. Zacks Research cut shares of BioLife Solutions from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, BioLife Solutions currently has an average rating of "Hold" and an average target price of $33.00.

BioLife Solutions Stock Performance

The firm has a 50-day moving average price of $26.36 and a two-hundred day moving average price of $23.40. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -382.71 and a beta of 1.94.

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

Insiders Place Their Bets

In other news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the stock in a transaction that occurred on 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 approximately $112,744,810.50. This represents a 12.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 1,200,000 shares of company stock valued at $28,125,000 in the last three months. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BioLife Solutions

Several hedge funds have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. acquired a new stake in BioLife Solutions during the 1st quarter worth approximately $283,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in BioLife Solutions by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,422 shares of the medical equipment provider's stock worth $489,000 after buying an additional 914 shares in the last quarter. Jane Street Group LLC purchased a new position in BioLife Solutions in the 1st quarter valued at approximately $1,091,000. Strs Ohio purchased a new position in shares of BioLife Solutions in the first quarter valued at $153,000. Finally, Qube Research & Technologies Ltd increased its holdings in BioLife Solutions by 2,399.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 248,474 shares of the medical equipment provider's stock valued at $5,352,000 after acquiring 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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