BioLife Solutions (NASDAQ:BLFS) Sets New 52-Week High – Here’s What Happened

BioLife Solutions, Inc. (NASDAQ:BLFS) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $35.41 and last traded at $35.39, with a volume of 226167 shares. The stock had previously closed at $35.07.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Benchmark lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. William Blair set a $31.00 price target on shares of BioLife Solutions in a report on Thursday, July 23rd. Lake Street Capital downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $33.00 to $31.00 in a research report on Wednesday, July 22nd. Craig Hallum lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research note on Wednesday, July 22nd. Finally, Jefferies Financial Group cut shares of BioLife Solutions from a “buy” rating to a “hold” rating and lifted their target price for the stock from $30.00 to $31.00 in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.38.

BioLife Solutions Stock Up 0.7%

The company’s 50-day moving average is $29.39 and its two-hundred day moving average is $24.41. The company has a market cap of $1.73 billion, a P/E ratio of 30.46 and a beta of 1.93.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings data 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 business had revenue of $28.47 million for the quarter, compared to analyst estimates of $27.80 million. BioLife Solutions had a net margin of 53.29% and a return on equity of 2.70%. On average, analysts anticipate that BioLife Solutions, Inc. will post 0.03 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $23.70, for a total transaction of $15,405,000.00. Following the completion of the sale, the insider owned 4,757,165 shares in the company, valued at $112,744,810.50. This trade represents a 12.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 1,200,000 shares of company stock worth $28,125,000. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Several institutional investors have recently bought and sold shares of the company. Summit Creek Advisors LLC boosted its holdings in BioLife Solutions by 24.2% in the 4th quarter. Summit Creek Advisors LLC now owns 238,802 shares of the medical equipment provider’s stock worth $5,774,000 after buying an additional 46,541 shares during the period. Hsbc Holdings PLC bought a new stake in BioLife Solutions during the 1st quarter valued at $874,000. Vanguard Group Inc. lifted its position in shares of BioLife Solutions by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 3,087,386 shares of the medical equipment provider’s stock worth $74,653,000 after acquiring an additional 119,868 shares in the last quarter. Royal Bank of Canada lifted its position in shares of BioLife Solutions by 8.1% during the first quarter. Royal Bank of Canada now owns 885,298 shares of the medical equipment provider’s stock worth $16,891,000 after acquiring an additional 66,010 shares in the last quarter. Finally, Granahan Investment Management LLC boosted its holdings in shares of BioLife Solutions by 49.7% in the first quarter. Granahan Investment Management LLC now owns 722,057 shares of the medical equipment provider’s stock worth $13,777,000 after acquiring an additional 239,701 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

About BioLife Solutions

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.