BioLife Solutions (NASDAQ:BLFS) Stock Rating Lowered by Zacks Research

Key Points

• BioLife Solutions stock was downgraded by Zacks Research from a "strong-buy" to a "hold" rating, following mixed reviews from other analysts, including a "sell" rating from Weiss Ratings and a "buy" rating from HC Wainwright.
• The company reported a $0.33 loss per share for its latest quarter, missing analyst expectations, although it achieved revenue of $25.42 million, exceeding consensus estimates.
• Insiders have been active in selling shares, with CFO Troy Wichterman and CMO Todd Berard recently selling a combined total of over $283,000 worth of stock.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts have also issued reports on BLFS. Weiss Ratings reissued a "sell (d-)" rating on shares of BioLife Solutions in a research note on Wednesday. HC Wainwright reissued a "buy" rating and set a $32.00 price objective (up previously from $30.00) on shares of BioLife Solutions in a research report on Friday, August 8th. Finally, Stephens began coverage on BioLife Solutions in a research note on Tuesday, July 22nd. They issued an "overweight" rating and a $30.00 target price for the company. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.29.

BioLife Solutions Price Performance

NASDAQ BLFS opened at $27.34 on Tuesday. The stock has a market capitalization of $1.31 billion, a P/E ratio of -227.81 and a beta of 1.95. The business has a 50 day simple moving average of $24.83 and a 200 day simple moving average of $23.34. BioLife Solutions has a one year low of $19.10 and a one year high of $29.55.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.31). The business had revenue of $25.42 million for the quarter, compared to the consensus estimate of $23.71 million. BioLife Solutions had a positive return on equity of 0.16% and a negative net margin of 5.39%. BioLife Solutions has set its FY 2025 guidance at EPS. Equities analysts expect that BioLife Solutions will post -0.3 earnings per share for the current year.

Insider Buying and Selling at BioLife Solutions

In related news, CFO Troy Wichterman sold 1,032 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $26.83, for a total transaction of $27,688.56. Following the transaction, the chief financial officer directly owned 184,186 shares in the company, valued at approximately $4,941,710.38. The trade was a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Todd Berard sold 10,000 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $25.53, for a total transaction of $255,300.00. Following the completion of the sale, the chief marketing officer directly owned 124,618 shares of the company's stock, valued at $3,181,497.54. The trade was a 7.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,016,883 shares of company stock worth $23,929,762. Corporate insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On BioLife Solutions

Several institutional investors have recently modified their holdings of the business. Invesco Ltd. increased its position in shares of BioLife Solutions by 0.8% during the second quarter. Invesco Ltd. now owns 3,580,778 shares of the medical equipment provider's stock valued at $77,130,000 after acquiring an additional 29,724 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of BioLife Solutions during the 1st quarter valued at $30,789,000. Ameriprise Financial Inc. raised its stake in shares of BioLife Solutions by 11.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,080,371 shares of the medical equipment provider's stock worth $23,271,000 after purchasing an additional 109,959 shares during the period. Palisade Capital Management LP raised its stake in shares of BioLife Solutions by 13.7% during the 1st quarter. Palisade Capital Management LP now owns 947,085 shares of the medical equipment provider's stock worth $21,631,000 after purchasing an additional 113,937 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of BioLife Solutions by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 921,105 shares of the medical equipment provider's stock worth $19,842,000 after buying an additional 33,849 shares during the last quarter. 93.24% of the stock is owned by institutional investors.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops, manufactures, and markets bioproduction tools and services for the cell and gene therapy (CGT) industry in the United States, Europe, the Middle East, Africa, and internationally. The company's products are used in the basic and applied research, and commercial manufacturing of biologic-based therapies.

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