Analysts Set BioLife Solutions, Inc. (NASDAQ:BLFS) PT at $32.00

BioLife Solutions, Inc. (NASDAQ:BLFS) has been assigned an average rating of “Hold” from the five ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $32.00.

Several research analysts recently issued reports on BLFS shares. Zacks Research cut shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Wall Street Zen raised BioLife Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioLife Solutions in a research report on Monday, April 20th.

Insider Activity at BioLife Solutions

In other news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the company’s stock in a transaction dated 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 sale, the insider owned 4,757,165 shares in the company, valued at $112,744,810.50. This represents a 12.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,200,500 shares of company stock valued at $28,135,000 in the last quarter. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of BioLife Solutions

A number of hedge funds have recently modified their holdings of BLFS. T. Rowe Price Investment Management Inc. boosted its stake in shares of BioLife Solutions by 27.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,180,824 shares of the medical equipment provider’s stock worth $125,273,000 after buying an additional 1,113,972 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of 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 buying an additional 382,776 shares during the last quarter. Capricorn Fund Managers Ltd purchased a new stake in shares of BioLife Solutions in the fourth quarter worth about $9,153,000. Invesco Ltd. boosted its stake in shares of 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 buying an additional 332,747 shares during the last quarter. Finally, Granahan Investment Management LLC boosted its stake in shares of 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 worth $13,777,000 after buying an additional 239,701 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

BioLife Solutions Stock Down 1.6%

Shares of NASDAQ:BLFS opened at $26.65 on Tuesday. BioLife Solutions has a 52-week low of $17.86 and a 52-week high of $29.62. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -333.08 and a beta of 2.00. The business has a 50-day moving average price of $22.01 and a 200-day moving average price of $22.91.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings data on Thursday, May 7th. The medical equipment provider reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. BioLife Solutions had a negative net margin of 2.80% and a positive return on equity of 1.81%. The business had revenue of $27.50 million during the quarter, compared to analysts’ expectations of $25.66 million. As a group, equities analysts anticipate that BioLife Solutions will post 0.07 EPS for the current fiscal year.

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.