BioLife Solutions (NASDAQ:BLFS) Cut to Hold at Zacks Research

Zacks Research cut shares of BioLife Solutions (NASDAQ:BLFS) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of BioLife Solutions in a research note on Wednesday. Stephens began coverage on shares of BioLife Solutions in a research note on Tuesday, July 22nd. They set an “overweight” rating and a $30.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $32.00 price objective (up previously from $30.00) on shares of BioLife Solutions in a research note on Friday, August 8th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, BioLife Solutions has an average rating of “Moderate Buy” and a consensus price target of $31.29.

BioLife Solutions Price Performance

Shares of NASDAQ BLFS opened at $27.45 on Tuesday. BioLife Solutions has a 1 year low of $19.10 and a 1 year high of $29.55. The company’s 50-day moving average is $24.96 and its 200 day moving average is $23.35. The stock has a market capitalization of $1.31 billion, a P/E ratio of -228.73 and a beta of 1.95.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.31). BioLife Solutions had a negative net margin of 5.39% and a positive return on equity of 0.16%. The company had revenue of $25.42 million for the quarter, compared to analysts’ expectations of $23.71 million. BioLife Solutions has set its FY 2025 guidance at EPS. Research analysts anticipate that BioLife Solutions will post -0.3 earnings per share for the current year.

Insider Transactions at BioLife Solutions

In other news, CFO Troy Wichterman sold 1,032 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $26.83, for a total value of $27,688.56. Following the transaction, the chief financial officer owned 184,186 shares in the company, valued at approximately $4,941,710.38. This represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Casdin Partners Master Fund, L sold 500,000 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $24.40, for a total transaction of $12,200,000.00. Following the transaction, the insider owned 6,707,165 shares in the company, valued at approximately $163,654,826. This trade represents a 6.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,016,883 shares of company stock worth $23,929,762. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLFS. GAMMA Investing LLC increased its holdings in BioLife Solutions by 2,609.4% during the first quarter. GAMMA Investing LLC now owns 96,453 shares of the medical equipment provider’s stock valued at $2,203,000 after buying an additional 92,893 shares during the last quarter. Rhumbline Advisers lifted its position in BioLife Solutions by 0.7% during the first quarter. Rhumbline Advisers now owns 83,227 shares of the medical equipment provider’s stock valued at $1,901,000 after purchasing an additional 566 shares during the last quarter. SG Americas Securities LLC lifted its position in BioLife Solutions by 21.6% during the first quarter. SG Americas Securities LLC now owns 19,136 shares of the medical equipment provider’s stock valued at $437,000 after purchasing an additional 3,405 shares during the last quarter. Peregrine Capital Management LLC lifted its holdings in shares of BioLife Solutions by 3.5% in the 1st quarter. Peregrine Capital Management LLC now owns 364,446 shares of the medical equipment provider’s stock worth $8,324,000 after acquiring an additional 12,241 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of BioLife Solutions by 6.2% in the 1st quarter. Principal Financial Group Inc. now owns 259,488 shares of the medical equipment provider’s stock worth $5,927,000 after acquiring an additional 15,241 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.