BioLife Solutions (NASDAQ:BLFS) Raised to Hold at StockNews.com

StockNews.com upgraded shares of BioLife Solutions (NASDAQ:BLFS) from a sell rating to a hold rating in a report issued on Tuesday morning.

Separately, HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of BioLife Solutions in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.17.

BioLife Solutions Price Performance

Shares of NASDAQ:BLFS opened at $23.09 on Tuesday. The company has a quick ratio of 1.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.10 billion, a P/E ratio of -21.78 and a beta of 2.01. BioLife Solutions has a 52 week low of $18.70 and a 52 week high of $29.55. The company has a 50-day moving average price of $23.71 and a 200 day moving average price of $25.31.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings results on Thursday, May 8th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. BioLife Solutions had a negative net margin of 38.98% and a negative return on equity of 6.61%. The company had revenue of $23.94 million during the quarter, compared to the consensus estimate of $22.22 million. Research analysts predict that BioLife Solutions will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Troy Wichterman sold 4,151 shares of BioLife Solutions stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total transaction of $103,775.00. Following the completion of the transaction, the chief financial officer now directly owns 116,809 shares in the company, valued at $2,920,225. The trade was a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Aby J. Mathew sold 1,597 shares of BioLife Solutions stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total value of $39,925.00. Following the transaction, the executive vice president now owns 260,601 shares of the company’s stock, valued at $6,515,025. This represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,696 shares of company stock worth $1,665,094 in the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of BLFS. D.A. Davidson & CO. grew its stake in shares of BioLife Solutions by 1.3% during the 4th quarter. D.A. Davidson & CO. now owns 41,179 shares of the medical equipment provider’s stock valued at $1,069,000 after buying an additional 519 shares during the period. Sei Investments Co. grew its stake in shares of BioLife Solutions by 0.5% during the 1st quarter. Sei Investments Co. now owns 117,999 shares of the medical equipment provider’s stock valued at $2,695,000 after buying an additional 547 shares during the period. Rhumbline Advisers grew its stake in shares of BioLife Solutions by 0.7% during the 1st quarter. Rhumbline Advisers now owns 83,227 shares of the medical equipment provider’s stock valued at $1,901,000 after buying an additional 566 shares during the period. GAMMA Investing LLC grew 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 valued at $96,000 after buying an additional 663 shares during the period. Finally, 1620 Investment Advisors Inc. grew its stake in shares of BioLife Solutions by 41.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider’s stock valued at $60,000 after buying an additional 675 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.