Biolife Solutions (NASDAQ:BLFS) reached a new 52-week high and low during trading on Friday . The company traded as low as $9.21 and last traded at $9.04, with a volume of 1380 shares changing hands. The stock had previously closed at $9.10.
A number of research firms have commented on BLFS. Maxim Group raised their price target on Biolife Solutions from $9.00 to $12.00 and gave the company a “buy” rating in a report on Friday, May 11th. ValuEngine raised Biolife Solutions from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Northland Securities began coverage on Biolife Solutions in a report on Monday, March 12th. They set an “outperform” rating on the stock.
Biolife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, March 8th. The medical equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.01). Biolife Solutions had a negative return on equity of 18.99% and a negative net margin of 13.17%. The firm had revenue of $3.13 million during the quarter, compared to the consensus estimate of $3.10 million. research analysts expect that Biolife Solutions will post -0.04 EPS for the current fiscal year.
In other news, CEO Michael Rice sold 12,540 shares of Biolife Solutions stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $5.27, for a total value of $66,085.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas Girschweiler sold 1,025,000 shares of Biolife Solutions stock in a transaction dated Monday, April 9th. The stock was sold at an average price of $5.26, for a total value of $5,391,500.00. The disclosure for this sale can be found here. Insiders sold 1,062,620 shares of company stock worth $5,656,094 over the last ninety days. Insiders own 38.50% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN bought a new stake in shares of Biolife Solutions in the fourth quarter worth about $111,000. Millennium Management LLC increased its holdings in shares of Biolife Solutions by 32.3% in the first quarter. Millennium Management LLC now owns 241,470 shares of the medical equipment provider’s stock worth $1,234,000 after purchasing an additional 58,920 shares during the last quarter. Finally, Essex Investment Management Co. LLC increased its holdings in shares of Biolife Solutions by 199.8% in the fourth quarter. Essex Investment Management Co. LLC now owns 254,096 shares of the medical equipment provider’s stock worth $1,525,000 after purchasing an additional 169,341 shares during the last quarter. 11.23% of the stock is currently owned by hedge funds and other institutional investors.
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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