Dallas, Texas 06/04/2015 (Financialstrend) – BioLife Solutions Inc (NASDAQ:BLFS) prospects in the street are looking brighter than ever. The stock clocked its 52 week high this week. How strong the impressive run is, remains to be seen, as more shares continue to exchange hands.
More Clients Come On Board
The stock was up by more than 59% on Wednesday registering a 52 week high of $4.44 a share. The impressive run came on the announcement that BioLife Solutions Inc (NASDAQ:BLFS) had added new clients for the use of its CryoStor and HypoThermosol biopreservation products. The company made the announcement at the recent International Society for Cellular Therapy Conference.
The biggest concern at the moment is whether BioLife Solutions Inc (NASDAQ:BLFS) has risen way too much and may start to tank as soon as the news settles. The stock retreated from the highs of $4.44 a share to lows of $2.79 a share but still managed to close on the green.
GlaxoSmithKline plc (ADR) (NYSE:GSK) and HemCare Corporation are some of the clients using BioLife Solutions products according to a poster at the ISCT conference. CEO and President Mike Rice was quick to point out that the growing customer base is a confirmation of the company’s opportunity in helping customers optimize yields and costs in biologic-based therapies.
Concerns Facing the Stock
The health care sector has come into life in the recent months as biotech and pharmaceutical companies continue to unveil new monumental developments. BioLife Solutions Inc (NASDAQ:BLFS) manufactures and markets clinical grade cell and tissue hypothermic. It also runs a cloud-hosted biologists cold chain app.
TheStreet maintains a sell rating on the stock on concerns of a deteriorating net income as well as weaknesses on the operating cash flow. The stock has underperformed and is currently selling at a lesser value compared to other stock in the industry