BioLife Solutions (NASDAQ:BLFS) Reaches New 12-Month High at $23.32

BioLife Solutions, Inc. (NASDAQ:BLFS) shares reached a new 52-week high on Wednesday . The company traded as high as $23.32 and last traded at $23.07, with a volume of 68170 shares trading hands. The stock had previously closed at $22.76.

Analyst Ratings Changes

A number of equities analysts have commented on BLFS shares. Benchmark upgraded shares of BioLife Solutions from a “neutral” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Monday, May 13th. StockNews.com raised BioLife Solutions to a “sell” rating in a report on Friday, May 10th. TD Cowen lifted their price objective on BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Jefferies Financial Group started coverage on BioLife Solutions in a research note on Thursday, April 4th. They set a “buy” rating and a $22.00 target price for the company. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.83.

BioLife Solutions Stock Up 4.4 %

The company has a quick ratio of 1.77, a current ratio of 2.89 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -16.93 and a beta of 1.85. The stock has a 50 day moving average of $21.15 and a 200 day moving average of $18.90.

BioLife Solutions (NASDAQ:BLFS) last released its earnings results on Thursday, May 9th. The medical equipment provider reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.06. BioLife Solutions had a negative return on equity of 12.89% and a negative net margin of 45.84%. The company had revenue of $31.73 million for the quarter, compared to the consensus estimate of $29.30 million. During the same quarter last year, the business posted ($0.27) EPS. As a group, analysts expect that BioLife Solutions, Inc. will post -0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BioLife Solutions news, insider Sarah Aebersold sold 3,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $21.03, for a total transaction of $63,090.00. Following the sale, the insider now directly owns 61,683 shares of the company’s stock, valued at $1,297,193.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CMO Todd Berard sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $20.18, for a total value of $201,800.00. Following the sale, the chief marketing officer now owns 108,894 shares of the company’s stock, valued at approximately $2,197,480.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sarah Aebersold sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $21.03, for a total value of $63,090.00. Following the transaction, the insider now owns 61,683 shares of the company’s stock, valued at approximately $1,297,193.49. The disclosure for this sale can be found here. Insiders sold a total of 15,215 shares of company stock valued at $313,281 over the last 90 days. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioLife Solutions

Several large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its holdings in shares of BioLife Solutions by 167.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 1,020 shares during the period. 1620 Investment Advisors Inc. bought a new stake in BioLife Solutions in the 2nd quarter valued at about $35,000. GAMMA Investing LLC acquired a new position in BioLife Solutions during the 4th quarter valued at about $41,000. Register Financial Advisors LLC bought a new position in BioLife Solutions in the 1st quarter worth about $96,000. Finally, State Board of Administration of Florida Retirement System bought a new position in BioLife Solutions in the 1st quarter worth about $229,000. 93.24% of the stock is owned by institutional investors and hedge funds.

About BioLife Solutions

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.