Squarepoint Ops LLC Purchases New Position in BioLife Solutions, Inc. $BLFS

Key Points

• Squarepoint Ops LLC acquired 132,942 shares of BioLife Solutions during the second quarter, valued at approximately $3.75 million and representing about 0.27% of the company. Institutional investors collectively own 93.24% of BLFS.
• Analyst sentiment has weakened, with several firms downgrading the stock to “Hold” or “Neutral” and lowering price targets. BioLife Solutions has an average rating of “Hold” and an average target price of $31.38.
• BioLife Solutions reported quarterly EPS of $0.91, significantly above the $0.03 consensus estimate, while revenue reached $28.47 million versus expectations of $27.80 million. The stock opened at $34.95, near its 52-week high of $38.10.

Squarepoint Ops LLC purchased a new stake in BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 132,942 shares of the medical equipment provider's stock, valued at approximately $3,754,000. Squarepoint Ops LLC owned approximately 0.27% of BioLife Solutions as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its holdings in shares of BioLife Solutions by 3,057.9% during the second quarter. California State Teachers Retirement System now owns 1,215,252 shares of the medical equipment provider's stock worth $34,319,000 after buying an additional 1,176,769 shares in the last quarter. AXQ Capital LP acquired a new position in shares of BioLife Solutions in the 2nd quarter worth approximately $203,000. Ranger Investment Management L.P. bought a new stake in BioLife Solutions during the 2nd quarter worth approximately $6,736,000. Summit Creek Advisors LLC bought a new stake in BioLife Solutions during the 2nd quarter worth approximately $5,099,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in BioLife Solutions during the 2nd quarter valued at $4,346,000. 93.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BLFS shares. Benchmark downgraded BioLife Solutions from a "buy" rating to a "hold" rating in a research report on Monday, August 10th. TD Cowen cut BioLife Solutions from a "buy" rating to a "hold" rating and decreased their target price for the stock from $33.00 to $31.00 in a report on Wednesday, July 22nd. Weiss Ratings restated a "sell (d-)" rating on shares of BioLife Solutions in a research note on Friday, July 17th. Lake Street Capital cut BioLife Solutions from a "buy" rating to a "hold" rating and cut their price target for the company from $33.00 to $31.00 in a report on Wednesday, July 22nd. Finally, HC Wainwright cut BioLife Solutions from a "buy" rating to a "neutral" rating and cut their price target for the company from $32.00 to $31.00 in a report on Thursday, July 23rd. One 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $31.38.

BioLife Solutions Trading Up 0.1%

BioLife Solutions stock opened at $34.95 on Friday. The company has a market cap of $1.71 billion, a PE ratio of 30.13 and a beta of 1.91. BioLife Solutions, Inc. has a 1 year low of $17.86 and a 1 year high of $38.10. The company's 50-day moving average is $33.07 and its two-hundred day moving average is $26.28.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.03 by $0.88. The company had revenue of $28.47 million during the quarter, compared to analysts' expectations of $27.80 million. BioLife Solutions had a net margin of 53.29% and a return on equity of 2.70%. Research analysts forecast that BioLife Solutions, Inc. will post 0.03 EPS for the current year.

BioLife Solutions Profile

BioLife Solutions, Inc develops and supplies tools and services used in the development, manufacture, preservation and distribution of cell and gene therapies. Its products are designed to help maintain the viability and functionality of cells, tissues and other biological materials during processing, freezing, storage and transportation.

The company's portfolio includes cell and tissue preservation media, thawing and processing solutions, cryogenic storage systems, controlled-rate freezing equipment and related bioproduction technologies.

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