BioLife Solutions (NASDAQ:BLFS) Trading 12.5% Higher on Analyst Upgrade

Key Points

• BioLife Solutions' stock price surged 12.5% after HC Wainwright raised their price target from $30.00 to $32.00, maintaining a buy rating.
• Despite the analyst upgrade, one research firm downgraded the stock from a "hold" to a "sell" rating, while overall analyst sentiment remains a moderate buy with a consensus price target of $31.29.
• Major shareholder Casdin Partners sold 1,000,000 shares of BioLife Solutions, resulting in an 11.48% decrease in their position, reportedly worth over $23 million.

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) shot up 12.5% during mid-day trading on Friday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The company traded as high as $23.99 and last traded at $23.21. 159,336 shares traded hands during trading, a decline of 66% from the average session volume of 462,736 shares. The stock had previously closed at $20.64.

Separately, HC Wainwright reissued a "buy" rating and issued a $30.00 target price on shares of BioLife Solutions in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, BioLife Solutions presently has an average rating of "Moderate Buy" and a consensus price target of $31.29.

Insider Buying and Selling

In other BioLife Solutions news, major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $23.80, for a total transaction of $23,800,000.00. Following the completion of the sale, the insider directly owned 7,707,165 shares of the company's stock, valued at $183,430,527. This represents a 11.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 1,008,831 shares of company stock worth $23,999,658. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BioLife Solutions

Large investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of BioLife Solutions during the 4th quarter worth approximately $31,000. State of Wyoming raised its stake in shares of BioLife Solutions by 353.1% during the 1st quarter. State of Wyoming now owns 1,912 shares of the medical equipment provider's stock worth $44,000 after buying an additional 1,490 shares in the last quarter. US Bancorp DE raised its stake in shares of BioLife Solutions by 243.7% during the 1st quarter. US Bancorp DE now owns 2,155 shares of the medical equipment provider's stock worth $49,000 after buying an additional 1,528 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of BioLife Solutions by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 4,223 shares of the medical equipment provider's stock worth $96,000 after buying an additional 663 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of BioLife Solutions during the 1st quarter worth approximately $153,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

BioLife Solutions Trading Up 9.9%

The firm has a market capitalization of $1.08 billion, a PE ratio of -188.98 and a beta of 1.76. The business has a 50 day moving average price of $21.91 and a 200-day moving average price of $23.59. The company has a current ratio of 4.73, a quick ratio of 3.74 and a debt-to-equity ratio of 0.01.

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

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.