BioLife Solutions (NASDAQ:BLFS) Sees Large Volume Increase – Time to Buy?

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) saw strong trading volume on Thursday . 758,919 shares were traded during trading, an increase of 19% from the previous session’s volume of 638,184 shares.The stock last traded at $31.2330 and had previously closed at $31.15.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. HC Wainwright lowered shares of BioLife Solutions from a “buy” rating to a “neutral” rating and reduced their price target for the company from $32.00 to $31.00 in a research report on Thursday. William Blair set a $31.00 price objective on shares of BioLife Solutions in a report on Thursday. Craig Hallum downgraded BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a report on Wednesday. TD Cowen lowered BioLife Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioLife Solutions in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $31.50.

BioLife Solutions Price Performance

The business has a 50 day moving average of $26.56 and a 200 day moving average of $23.45. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -377.77 and a beta of 1.94.

BioLife Solutions (NASDAQ:BLFS) last released its earnings results on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $27.50 million during the quarter, compared to analysts’ expectations of $25.66 million. BioLife Solutions had a positive return on equity of 1.81% and a negative net margin of 2.80%. As a group, equities analysts predict that BioLife Solutions, Inc. will post 0.02 EPS for the current year.

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 dated Thursday, May 21st. The shares were sold at an average price of $23.70, for a total value of $15,405,000.00. Following the transaction, the insider directly owned 4,757,165 shares of the company’s stock, valued at $112,744,810.50. This represents a 12.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 1,200,000 shares of company stock valued at $28,125,000. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of BioLife Solutions

Institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new position in BioLife Solutions in the 4th quarter valued at $30,000. Kemnay Advisory Services Inc. acquired a new stake in shares of BioLife Solutions during the fourth quarter worth $35,000. State of Wyoming bought a new stake in shares of BioLife Solutions in the first quarter valued at about $52,000. Quarry LP grew its stake in shares of BioLife Solutions by 50.9% in the third quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock valued at $54,000 after acquiring an additional 713 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in BioLife Solutions by 42.4% in the 4th quarter. Hantz Financial Services Inc. now owns 2,673 shares of the medical equipment provider’s stock worth $65,000 after purchasing an additional 796 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

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.