BioLife Solutions, Inc. (NASDAQ:BLFS) Short Interest Update

BioLife Solutions, Inc. (NASDAQ:BLFS) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 4,544,348 shares, a growth of 59.1% from the July 15th total of 2,856,425 shares. Based on an average trading volume of 2,208,090 shares, the days-to-cover ratio is presently 2.1 days. Currently, 9.5% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

BLFS has been the subject of several analyst reports. Benchmark downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. Lake Street Capital cut 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 note on Wednesday, July 22nd. Wall Street Zen downgraded BioLife Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Stephens reaffirmed an “equal weight” rating and set a $31.00 target price (down from $32.00) on shares of BioLife Solutions in a research report on Monday, July 27th. Finally, Maxim Group downgraded BioLife Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.38.

BioLife Solutions Stock Performance

BioLife Solutions stock opened at $36.47 on Thursday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 31.44 and a beta of 1.93. BioLife Solutions has a 52-week low of $17.86 and a 52-week high of $36.91. The firm has a 50 day moving average price of $29.92 and a two-hundred day moving average price of $24.67.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $0.91 EPS 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 analyst estimates of $27.80 million. As a group, equities research analysts predict that BioLife Solutions will post 0.03 EPS for the current fiscal year.

Institutional Trading of BioLife Solutions

Large investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its position in shares of BioLife Solutions by 27.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,180,824 shares of the medical equipment provider’s stock valued at $125,273,000 after purchasing an additional 1,113,972 shares in the last quarter. Bank of America Corp DE increased its holdings in BioLife Solutions by 73.4% in the first quarter. Bank of America Corp DE now owns 904,103 shares of the medical equipment provider’s stock worth $17,250,000 after purchasing an additional 382,776 shares in the last quarter. Invesco Ltd. increased its holdings in BioLife Solutions by 9.2% in the fourth quarter. Invesco Ltd. now owns 3,932,191 shares of the medical equipment provider’s stock worth $95,080,000 after purchasing an additional 332,747 shares in the last quarter. Granahan Investment Management LLC lifted its stake in 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 valued at $13,777,000 after buying an additional 239,701 shares during the period. Finally, Qube Research & Technologies Ltd lifted its stake in BioLife Solutions by 2,399.5% in the second quarter. Qube Research & Technologies Ltd now owns 248,474 shares of the medical equipment provider’s stock valued at $5,352,000 after buying an additional 238,533 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.