BioLife Solutions (NASDAQ:BLFS) Trading 6.8% Higher – Time to Buy?

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) were up 6.8% during mid-day trading on Thursday . The stock traded as high as $27.67 and last traded at $27.3070. 227,779 shares traded hands during trading, a decline of 54% from the average daily volume of 492,285 shares. The stock had previously closed at $25.57.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioLife Solutions in a report on Monday, April 20th. Wall Street Zen upgraded BioLife Solutions from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Zacks Research downgraded shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $32.00.

BioLife Solutions Stock Performance

The firm’s 50 day moving average price is $23.74 and its two-hundred day moving average price is $22.94. The company has a market cap of $1.36 billion, a P/E ratio of -348.58 and a beta of 2.00.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. The business had revenue of $27.50 million for the quarter, compared to analyst estimates of $25.66 million. BioLife Solutions had a negative net margin of 2.80% and a positive return on equity of 1.81%. As a group, analysts forecast that BioLife Solutions, Inc. will post 0.07 EPS for the current fiscal year.

Insider Activity at BioLife Solutions

In related news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the business’s stock in a transaction dated 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 $112,744,810.50. The trade was a 12.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 1,200,000 shares of company stock valued at $28,125,000. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in BioLife Solutions in the 4th quarter valued at $30,000. Kemnay Advisory Services Inc. bought a new position in shares of BioLife Solutions in the fourth quarter valued at $35,000. State of Wyoming bought a new position in shares of BioLife Solutions in the first quarter valued at $52,000. Quarry LP grew its holdings in shares of BioLife Solutions by 50.9% during the third quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock valued at $54,000 after buying an additional 713 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in shares of BioLife Solutions by 42.4% during the fourth quarter. Hantz Financial Services Inc. now owns 2,673 shares of the medical equipment provider’s stock valued at $65,000 after buying an additional 796 shares during the last quarter. Institutional investors 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.