Tidal Investments LLC Buys Shares of 29,012 BioLife Solutions, Inc. $BLFS

Key Points

• Tidal Investments LLC acquired 29,012 BioLife Solutions shares worth approximately $819,000, giving it a 0.06% stake. Institutional and hedge-fund investors collectively own 93.24% of the company.
• BioLife Solutions reported quarterly revenue of $28.47 million and earnings per share of $0.91, substantially exceeding analysts’ estimates of $27.80 million and $0.03, respectively.
• BLFS shares opened at $36.69, near their 52-week high of $38.10, while analysts’ average rating remains “Hold” with a consensus price target of $31.38.

Tidal Investments LLC purchased a new stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 29,012 shares of the medical equipment provider's stock, valued at approximately $819,000. Tidal Investments LLC owned 0.06% of BioLife Solutions at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. WINTON GROUP Ltd bought a new stake in shares of BioLife Solutions in the second quarter worth $201,000. Engineers Gate Manager LP bought a new position in BioLife Solutions in the second quarter valued at about $424,000. Squarepoint Ops LLC bought a new position in BioLife Solutions in the second quarter valued at about $3,754,000. AXQ Capital LP purchased a new position in BioLife Solutions in the second quarter worth about $203,000. Finally, Ranger Investment Management L.P. purchased a new position in BioLife Solutions in the second quarter worth about $6,736,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

BioLife Solutions Price Performance

Shares of NASDAQ BLFS opened at $36.69 on Monday. The stock has a market cap of $1.79 billion, a PE ratio of 31.63 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 firm has a fifty day moving average price of $33.91 and a 200-day moving average price of $26.77.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last released its earnings results on Thursday, August 6th. The medical equipment provider reported $0.91 earnings per share for the quarter, beating 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. On average, research analysts expect that BioLife Solutions, Inc. will post 0.03 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Lake Street Capital lowered shares of BioLife Solutions from a "buy" rating to a "hold" rating and reduced their price target for the company from $33.00 to $31.00 in a research report on Wednesday, July 22nd. William Blair set a $31.00 price objective on shares of BioLife Solutions in a report on Thursday, July 23rd. Zacks Research upgraded shares of BioLife Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Maxim Group cut shares of BioLife Solutions from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Finally, Jefferies Financial Group downgraded shares of BioLife Solutions from a "buy" rating to a "hold" rating and increased their price target for the stock from $30.00 to $31.00 in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $31.38.

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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