Cryoport’s (CYRX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Cryoport (NASDAQ:CYRX) in a research note released on Friday,Benzinga reports. They currently have a $11.00 price target on the stock.

Several other brokerages have also recently weighed in on CYRX. Roth Mkm reduced their price target on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. UBS Group boosted their price target on shares of Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Guggenheim started coverage on shares of Cryoport in a research report on Thursday, December 19th. They set a “buy” rating and a $11.00 price objective on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.29.

Cryoport Trading Up 0.1 %

Shares of CYRX opened at $7.50 on Friday. The company’s fifty day moving average is $7.68 and its 200 day moving average is $7.88. Cryoport has a fifty-two week low of $5.32 and a fifty-two week high of $20.10. The stock has a market capitalization of $370.73 million, a PE ratio of -2.22 and a beta of 1.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70.

Insider Buying and Selling at Cryoport

In other news, Director Ramkumar Mandalam sold 7,369 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $7.46, for a total transaction of $54,972.74. Following the completion of the sale, the director now directly owns 59,497 shares of the company’s stock, valued at approximately $443,847.62. The trade was a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jerrell Shelton sold 50,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $6.51, for a total transaction of $325,500.00. Following the sale, the chief executive officer now directly owns 731,897 shares of the company’s stock, valued at $4,764,649.47. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,869 shares of company stock worth $735,673 over the last quarter. Insiders own 10.10% of the company’s stock.

Institutional Trading of Cryoport

A number of large investors have recently made changes to their positions in CYRX. Thematics Asset Management boosted its stake in shares of Cryoport by 176.2% during the third quarter. Thematics Asset Management now owns 1,705,000 shares of the company’s stock valued at $13,828,000 after purchasing an additional 1,087,800 shares during the period. Fred Alger Management LLC lifted its stake in Cryoport by 49.9% in the third quarter. Fred Alger Management LLC now owns 2,698,768 shares of the company’s stock worth $21,887,000 after acquiring an additional 898,481 shares during the period. AXA S.A. lifted its stake in Cryoport by 274.2% in the second quarter. AXA S.A. now owns 873,217 shares of the company’s stock worth $6,034,000 after acquiring an additional 639,855 shares during the period. Point72 Asset Management L.P. purchased a new stake in Cryoport in the third quarter worth about $3,405,000. Finally, JPMorgan Chase & Co. lifted its stake in Cryoport by 1,464.4% in the third quarter. JPMorgan Chase & Co. now owns 305,237 shares of the company’s stock worth $2,475,000 after acquiring an additional 285,726 shares during the period. 92.90% of the stock is owned by hedge funds and other institutional investors.

About Cryoport

Cryoport, Inc provides temperature-controlled supply chain solutions in biopharma/pharma, animal health, and human reproductive medicine markets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoport Express Shippers; Cryoport ELITE -80°C Gene Therapy Shipper; Cryoport ELITE Cryosphere Shipper; Cryoport consulting services, including physical, thermal, and shipping qualifications of shipping systems and/or packaging to developing custom packaging solutions; and Cryoport bioservices, such as controlled temperature storage, fulfilment, kit production, secondary packaging, labelling of therapeutic products, and GMP raw materials storage services.