BioLife Solutions, Inc. (NASDAQ:BLFS) Given Average Recommendation of “Buy” by Brokerages

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have been given an average rating of “Buy” by the six ratings firms that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $31.17.

BLFS has been the subject of a number of recent research reports. Wall Street Zen lowered shares of BioLife Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of BioLife Solutions in a research note on Tuesday, May 13th.

Insider Activity at BioLife Solutions

In other news, major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares of the business’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $23.80, for a total transaction of $23,800,000.00. Following the completion of the transaction, the insider now directly owns 7,707,165 shares in the company, valued at $183,430,527. The trade was a 11.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sarah Aebersold sold 5,771 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $22.66, for a total transaction of $130,770.86. Following the transaction, the insider now owns 80,094 shares of the company’s stock, valued at $1,814,930.04. This trade represents a 6.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,058,385 shares of company stock worth $25,119,871. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of BioLife Solutions by 28.1% during the 4th quarter. Principal Financial Group Inc. now owns 244,247 shares of the medical equipment provider’s stock worth $6,341,000 after acquiring an additional 53,532 shares during the last quarter. D.A. Davidson & CO. lifted its holdings 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 worth $1,069,000 after acquiring an additional 519 shares during the last quarter. Peregrine Capital Management LLC lifted its holdings in shares of BioLife Solutions by 18.1% during the 4th quarter. Peregrine Capital Management LLC now owns 352,205 shares of the medical equipment provider’s stock worth $9,143,000 after acquiring an additional 54,100 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of BioLife Solutions by 4.3% during the 4th quarter. New York State Common Retirement Fund now owns 260,315 shares of the medical equipment provider’s stock worth $6,758,000 after acquiring an additional 10,836 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of BioLife Solutions during the 4th quarter worth $638,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

BioLife Solutions Trading Down 1.4%

NASDAQ:BLFS opened at $21.22 on Tuesday. The company has a current ratio of 4.73, a quick ratio of 3.74 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.01 billion, a PE ratio of -73.17 and a beta of 1.82. The firm’s 50 day moving average is $22.71 and its 200 day moving average is $24.76. BioLife Solutions has a 12 month low of $18.70 and a 12 month high of $29.55.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings results on Thursday, May 8th. The medical equipment provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. BioLife Solutions had a negative net margin of 11.81% and a negative return on equity of 0.66%. The company had revenue of $23.94 million for the quarter, compared to analysts’ expectations of $22.22 million. Sell-side analysts expect that BioLife Solutions will post -0.3 earnings per share for the current year.

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.