H.C. Wainwright analyst Raghuram Selvaraju views the recent weakness in BioLife Solutions shares as unwarranted. The recent drift downward in BioLife shares appears to be unjustified given the company's recent business initiatives, notably the acquisitions of SAVSU, Astero bio and Custom Biogenic Systemsm, Selvaraju tells investors in a research note. He raised his price target for the stock to $26 from $23 and reiterates a Buy rating on the name.

BioLife Solutions has completed the divestiture of its wholly owned subsidiary Global Cooling, or Stirling. The sale is expected to immediately eliminate several million dollars of quarterly cash burn and removes product warranty liabilities, which totaled $7.5M as of December 31, 2023. BioLive anticipates that this transaction will result in higher growth rates in total revenue and adjusted EBITDA, as well as gross margin expansion. The transaction, structured as a stock sale, required $7M in cash to remain on the balance sheet of GCI and the repayment of $2.6M in GCI long-term debt.