BioLife Solutions (NASDAQ:BLFS) Sets New 12-Month High – What’s Next?

BioLife Solutions, Inc. (NASDAQ:BLFS)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $26.96 and last traded at $26.96, with a volume of 586 shares trading hands. The stock had previously closed at $25.92.

Wall Street Analyst Weigh In

BLFS has been the topic of a number of recent analyst reports. HC Wainwright initiated coverage on BioLife Solutions in a research report on Monday, September 30th. They set a “buy” rating and a $29.00 price target on the stock. Northland Securities increased their target price on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Craig Hallum boosted their price target on shares of BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, TD Cowen increased their price objective on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

BioLife Solutions Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.81 and a current ratio of 2.86. The firm’s 50 day moving average is $24.06 and its 200-day moving average is $22.45. The company has a market cap of $1.21 billion, a PE ratio of -15.47 and a beta of 1.88.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $28.33 million during the quarter, compared to analyst estimates of $23.80 million. BioLife Solutions had a negative net margin of 59.88% and a negative return on equity of 10.75%. On average, research analysts anticipate that BioLife Solutions, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Activity

In related news, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the transaction, the executive now directly owns 114,773 shares in the company, valued at approximately $2,883,097.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CRO Garrie Richardson sold 3,070 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.12, for a total transaction of $77,118.40. Following the completion of the sale, the executive now directly owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $23.28, for a total transaction of $232,800.00. Following the completion of the transaction, the executive vice president now directly owns 317,716 shares in the company, valued at $7,396,428.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,044 shares of company stock valued at $645,105 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Hedge funds have recently made changes to their positions in the stock. Mutual of America Capital Management LLC purchased a new stake in BioLife Solutions in the second quarter valued at approximately $8,592,000. Vanguard Group Inc. raised its holdings in shares of BioLife Solutions by 11.5% in the 1st quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock valued at $53,208,000 after buying an additional 296,727 shares during the period. Raymond James & Associates purchased a new stake in shares of BioLife Solutions in the 2nd quarter valued at $2,876,000. Envestnet Asset Management Inc. boosted its holdings in BioLife Solutions by 261.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 127,215 shares of the medical equipment provider’s stock valued at $2,726,000 after acquiring an additional 92,021 shares during the period. Finally, Fred Alger Management LLC grew its position in BioLife Solutions by 6.0% in the 2nd quarter. Fred Alger Management LLC now owns 1,579,138 shares of the medical equipment provider’s stock valued at $33,841,000 after acquiring an additional 88,840 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.