BioLife Solutions (BLFS) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of BioLife Solutions (NASDAQ:BLFS) from a buy rating to a hold rating in a research note published on Tuesday.

According to Zacks, “BioLife Solutions has pioneered the next generation of preservation solutions designed to maintain the viability and health of cellular matter and tissues during freezing, transportation and storage. Based on their proprietary bio-packaging technology and a patented understanding of the mechanism of cellular damage and death, these products enable the biotechnology and medical community to address a growing problem that exists today. “

Other equities analysts have also issued reports about the stock. ValuEngine raised shares of BioLife Solutions from a hold rating to a buy rating in a report on Thursday, January 31st. Janney Montgomery Scott raised shares of BioLife Solutions to a buy rating and set a $5.00 price objective on the stock in a report on Thursday, December 20th. Finally, BidaskClub upgraded shares of BioLife Solutions from a hold rating to a buy rating in a research note on Friday, March 1st. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $17.75.

Shares of BLFS stock opened at $17.69 on Tuesday. The company has a market cap of $327.27 million, a P/E ratio of -84.24 and a beta of 1.65. BioLife Solutions has a 52-week low of $4.85 and a 52-week high of $26.35.

In other BioLife Solutions news, CFO Greef Roderick De sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 19th. The shares were sold at an average price of $10.67, for a total value of $106,700.00. Following the completion of the sale, the chief financial officer now directly owns 24,583 shares in the company, valued at $262,300.61. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Rice sold 14,781 shares of the firm’s stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $12.14, for a total transaction of $179,441.34. Following the completion of the sale, the chief executive officer now owns 154,298 shares of the company’s stock, valued at $1,873,177.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,869 shares of company stock valued at $781,532. 38.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in BLFS. BlackRock Inc. lifted its stake in shares of BioLife Solutions by 37.0% during the second quarter. BlackRock Inc. now owns 51,246 shares of the medical equipment provider’s stock worth $585,000 after buying an additional 13,846 shares during the period. Northern Trust Corp lifted its stake in shares of BioLife Solutions by 24.4% during the second quarter. Northern Trust Corp now owns 16,304 shares of the medical equipment provider’s stock worth $186,000 after buying an additional 3,200 shares during the period. Bank of Montreal Can lifted its stake in shares of BioLife Solutions by 91.6% during the third quarter. Bank of Montreal Can now owns 19,286 shares of the medical equipment provider’s stock worth $338,000 after buying an additional 9,222 shares during the period. Acadian Asset Management LLC lifted its stake in shares of BioLife Solutions by 39.0% during the third quarter. Acadian Asset Management LLC now owns 69,361 shares of the medical equipment provider’s stock worth $1,213,000 after buying an additional 19,456 shares during the period. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of BioLife Solutions during the third quarter worth $1,330,000. Institutional investors own 40.67% of the company’s stock.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops, manufactures, and markets patented 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, and delayed-onset cell damage and death.

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