BioLife Solutions (NASDAQ:BLFS) Posts Quarterly Earnings Results, Beats Expectations By $0.88 EPS

BioLife Solutions (NASDAQ:BLFS) posted its quarterly earnings data on Thursday. The medical equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.88, FiscalAI reports. BioLife Solutions had a negative net margin of 2.80% and a positive return on equity of 1.81%. The company had revenue of $28.47 million during the quarter, compared to the consensus estimate of $27.80 million.

BioLife Solutions Stock Performance

Shares of NASDAQ BLFS traded up $0.13 during trading hours on Thursday, hitting $33.93. The company’s stock had a trading volume of 461,485 shares, compared to its average volume of 1,571,188. BioLife Solutions has a 12 month low of $17.86 and a 12 month high of $34.34. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -424.07 and a beta of 1.93. The business has a 50-day simple moving average of $28.40 and a 200-day simple moving average of $24.00.

Insider Buying and Selling

In other BioLife Solutions news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $23.70, for a total value of $15,405,000.00. Following the completion of the sale, the insider owned 4,757,165 shares in the company, valued at approximately $112,744,810.50. This trade represents a 12.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 1,200,000 shares of company stock worth $28,125,000. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Several hedge funds have recently made changes to their positions in BLFS. Global Retirement Partners LLC purchased a new stake in BioLife Solutions in the fourth quarter worth $30,000. Kemnay Advisory Services Inc. purchased a new position in BioLife Solutions during the 4th quarter valued at $35,000. Quarry LP raised its holdings in BioLife Solutions by 50.9% in the 3rd quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock worth $54,000 after purchasing an additional 713 shares in the last quarter. Strs Ohio bought a new position in BioLife Solutions in the 1st quarter worth $153,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of BioLife Solutions by 547.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,133 shares of the medical equipment provider’s stock worth $154,000 after purchasing an additional 6,032 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BLFS shares. Lake Street Capital downgraded BioLife Solutions from a “buy” rating to a “hold” rating and lowered their price target for the company from $33.00 to $31.00 in a research report on Wednesday, July 22nd. TD Cowen downgraded BioLife Solutions from a “buy” rating to a “hold” rating and dropped their target price for the stock from $33.00 to $31.00 in a research report on Wednesday, July 22nd. Wall Street Zen cut shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. HC Wainwright lowered shares of BioLife Solutions from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $32.00 to $31.00 in a report on Thursday, July 23rd. Finally, Jefferies Financial Group cut shares of BioLife Solutions from a “buy” rating to a “hold” rating and upped their price objective for the company from $30.00 to $31.00 in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.38.

About BioLife Solutions

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.