BioLife Solutions (NASDAQ:BLFS) Hits New 12-Month High at $28.32

BioLife Solutions Inc (NASDAQ:BLFS)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $28.32 and last traded at $27.08, with a volume of 2948 shares traded. The stock had previously closed at $27.68.

BLFS has been the subject of several recent research reports. ValuEngine raised shares of BioLife Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, August 19th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price objective on shares of BioLife Solutions in a research report on Thursday, June 4th. Northland Securities reaffirmed a “buy” rating and issued a $28.00 price objective on shares of BioLife Solutions in a research report on Friday, August 7th. Maxim Group initiated coverage on shares of BioLife Solutions in a research report on Friday, August 7th. They issued a “buy” rating and a $26.00 price objective for the company. Finally, B. Riley upped their price objective on shares of BioLife Solutions from $20.00 to $25.50 and gave the stock a “buy” rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $22.94.

The stock has a market capitalization of $829.48 million, a PE ratio of -86.50, a PEG ratio of 86.40 and a beta of 1.70. The stock’s 50 day simple moving average is $20.94 and its two-hundred day simple moving average is $15.83.

BioLife Solutions (NASDAQ:BLFS) last released its earnings results on Thursday, August 6th. The medical equipment provider reported ($0.01) earnings per share for the quarter. The company had revenue of $9.92 million during the quarter, compared to analysts’ expectations of $9.68 million. BioLife Solutions had a net margin of 42.52% and a return on equity of 1.49%. As a group, equities analysts predict that BioLife Solutions Inc will post 0.03 EPS for the current year.

In related news, CEO Michael Rice sold 18,750 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $23.24, for a total transaction of $435,750.00. Following the sale, the chief executive officer now directly owns 227,096 shares in the company, valued at approximately $5,277,711.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $19.48, for a total transaction of $194,800.00. Following the sale, the vice president now owns 202,915 shares in the company, valued at $3,952,784.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 609,799 shares of company stock worth $10,605,400. Corporate insiders own 22.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in BLFS. FMR LLC purchased a new stake in shares of BioLife Solutions during the 1st quarter valued at approximately $2,684,000. UBS Group AG lifted its stake in BioLife Solutions by 27.4% in the 1st quarter. UBS Group AG now owns 15,839 shares of the medical equipment provider’s stock worth $151,000 after purchasing an additional 3,406 shares in the last quarter. BlackRock Inc. lifted its stake in BioLife Solutions by 7.2% in the 1st quarter. BlackRock Inc. now owns 595,328 shares of the medical equipment provider’s stock worth $5,656,000 after purchasing an additional 39,861 shares in the last quarter. Victory Capital Management Inc. lifted its stake in BioLife Solutions by 31.6% in the 1st quarter. Victory Capital Management Inc. now owns 6,128 shares of the medical equipment provider’s stock worth $58,000 after purchasing an additional 1,470 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in BioLife Solutions by 144.1% in the 1st quarter. JPMorgan Chase & Co. now owns 43,185 shares of the medical equipment provider’s stock worth $410,000 after purchasing an additional 25,494 shares in the last quarter. Institutional investors own 46.90% of the company’s stock.

About BioLife Solutions (NASDAQ:BLFS)

BioLife Solutions, Inc develops, manufactures, and markets grade cell and tissue hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs in the United States. Its products are serum-free and protein-free solutions, which are formulated to reduce preservation-induced cell damage and death.

Read More: Return on Equity (ROE)

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