BioLife Solutions (NASDAQ:BLFS) Hits New 12-Month High at $23.32

BioLife Solutions, Inc. (NASDAQ:BLFS)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.32 and last traded at $23.07, with a volume of 68170 shares traded. The stock had previously closed at $22.76.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Benchmark upgraded shares of BioLife Solutions from a “neutral” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Monday, May 13th. StockNews.com raised shares of BioLife Solutions to a “sell” rating in a report on Friday, May 10th. TD Cowen upped their price target on shares of BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Jefferies Financial Group assumed coverage on shares of BioLife Solutions in a report on Thursday, April 4th. They set a “buy” rating and a $22.00 price target for the company. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.83.

BioLife Solutions Stock Down 1.8 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 1.77. The company’s 50 day moving average is $21.14 and its 200 day moving average is $18.85.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings data on Thursday, May 9th. The medical equipment provider reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.06. The business had revenue of $31.73 million during the quarter, compared to the consensus estimate of $29.30 million. BioLife Solutions had a negative net margin of 45.84% and a negative return on equity of 12.89%. During the same quarter in the prior year, the firm earned ($0.27) EPS. On average, research analysts forecast that BioLife Solutions, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Sarah Aebersold sold 3,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $21.03, for a total transaction of $63,090.00. Following the completion of the transaction, the insider now owns 61,683 shares of the company’s stock, valued at $1,297,193.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CMO Todd Berard sold 10,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $20.18, for a total transaction of $201,800.00. Following the completion of the transaction, the chief marketing officer now owns 108,894 shares of the company’s stock, valued at $2,197,480.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sarah Aebersold sold 3,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $21.03, for a total transaction of $63,090.00. Following the transaction, the insider now directly owns 61,683 shares of the company’s stock, valued at approximately $1,297,193.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,215 shares of company stock valued at $313,281. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of BioLife Solutions by 11.5% during the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock worth $53,208,000 after buying an additional 296,727 shares during the period. Goldman Sachs Group Inc. increased its position in shares of BioLife Solutions by 1,038.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock worth $39,031,000 after buying an additional 2,191,002 shares during the period. William Blair Investment Management LLC increased its position in shares of BioLife Solutions by 0.8% during the first quarter. William Blair Investment Management LLC now owns 1,726,712 shares of the medical equipment provider’s stock worth $32,031,000 after buying an additional 13,785 shares during the period. Granahan Investment Management LLC increased its position in shares of BioLife Solutions by 22.8% during the fourth quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock worth $21,006,000 after buying an additional 240,001 shares during the period. Finally, Geneva Capital Management LLC increased its position in shares of BioLife Solutions by 0.7% during the first quarter. Geneva Capital Management LLC now owns 880,215 shares of the medical equipment provider’s stock worth $16,328,000 after buying an additional 5,730 shares during the period. Institutional investors own 93.24% of the company’s stock.

About BioLife Solutions

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.