BioLife Solutions (NASDAQ:BLFS) Cut to “Hold” at Maxim Group

Maxim Group cut shares of BioLife Solutions (NASDAQ:BLFS) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

A number of other research analysts have also weighed in on the company. HC Wainwright lowered BioLife Solutions from a “buy” rating to a “neutral” rating and reduced their target price for the company from $32.00 to $31.00 in a report on Thursday. Craig Hallum lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research report on Wednesday. Jefferies Financial Group cut shares of BioLife Solutions from a “buy” rating to a “hold” rating and boosted their price objective for the company from $30.00 to $31.00 in a research note on Thursday. Zacks Research lowered shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, TD Cowen cut shares of BioLife Solutions from a “buy” rating to a “hold” rating and lowered their target price for the stock from $33.00 to $31.00 in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, BioLife Solutions has an average rating of “Hold” and an average target price of $31.43.

BioLife Solutions Price Performance

BioLife Solutions stock opened at $29.98 on Wednesday. The firm has a market capitalization of $1.46 billion, a P/E ratio of -374.70 and a beta of 1.94. BioLife Solutions has a one year low of $17.86 and a one year high of $32.23. The business has a fifty day moving average price of $26.94 and a 200-day moving average price of $23.55.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings data on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The company had revenue of $27.50 million for the quarter, compared to analyst estimates of $25.66 million. BioLife Solutions had a positive return on equity of 1.81% and a negative net margin of 2.80%. Sell-side analysts expect that BioLife Solutions will post 0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at BioLife Solutions

In other BioLife Solutions news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the firm’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 of the company’s stock, valued at $112,744,810.50. This trade represents a 12.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 1,200,000 shares of company stock valued at $28,125,000. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC bought a new stake in BioLife Solutions during the fourth quarter valued at approximately $30,000. Kemnay Advisory Services Inc. purchased a new position in BioLife Solutions in the 4th quarter worth approximately $35,000. State of Wyoming bought a new position in shares of BioLife Solutions in the 1st quarter worth $52,000. Quarry LP increased its holdings in shares of 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 buying an additional 713 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its position in shares of BioLife Solutions by 42.4% during the 4th quarter. Hantz Financial Services Inc. now owns 2,673 shares of the medical equipment provider’s stock valued at $65,000 after buying an additional 796 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

More BioLife Solutions News

Here are the key news stories impacting BioLife Solutions this week:

• Positive Sentiment: HC Wainwright reiterated a Neutral rating and a $31 price target while forecasting modest earnings growth for BioLife Solutions through 2027, which suggests analysts still see some upside from current levels. HC Wainwright earnings estimates and rating for BioLife Solutions
• Neutral Sentiment: Repligen’s planned acquisition of BioLife Solutions is being framed as strategically positive for Repligen’s cell therapy business, and the deal could provide a clear exit value for BLFS shareholders if completed. Zacks article on Repligen buying BioLife Solutions
• Negative Sentiment: Maxim Group downgraded BioLife Solutions (BLFS) from strong-buy to hold, adding pressure on the stock and signaling less enthusiasm from analysts. Maxim Group downgrade coverage via Zacks
• Negative Sentiment: Kahn Swick & Foti said it is investigating the adequacy of the price and process in BioLife’s proposed sale to Repligen, raising the risk of shareholder litigation or a challenged deal process. BusinessWire investor alert on BioLife Solutions sale investigation
• Negative Sentiment: TD Cowen also downgraded BioLife Solutions (BLFS) to hold, reinforcing the cautious tone around the stock after the acquisition announcement. TD Cowen downgrade on BioLife Solutions

BioLife Solutions Company Profile

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.