Cryoport, Inc. (NASDAQ:CYRX) Receives $12.29 Average Price Target from Brokerages

Cryoport, Inc. (NASDAQ:CYRX) has been assigned an average rating of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $12.29.

A number of brokerages have commented on CYRX. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Cryoport in a research note on Friday, January 17th. Roth Mkm decreased their price target on Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 8th. Guggenheim initiated coverage on shares of Cryoport in a research report on Thursday, December 19th. They issued a “buy” rating and a $11.00 price objective for the company. Finally, UBS Group boosted their target price 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.

Cryoport Stock Down 3.7 %

CYRX opened at $8.01 on Wednesday. The company has a market cap of $395.93 million, a PE ratio of -2.37 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. Cryoport has a 1 year low of $5.32 and a 1 year high of $20.10. The firm has a 50 day moving average price of $7.74 and a 200 day moving average price of $7.92.

Cryoport (NASDAQ:CYRX) last issued its earnings results on Thursday, November 7th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.23. The business had revenue of $56.66 million for the quarter, compared to the consensus estimate of $58.13 million. Cryoport had a negative net margin of 70.08% and a negative return on equity of 13.35%. During the same quarter last year, the firm posted ($0.31) EPS. Sell-side analysts expect that Cryoport will post -0.99 earnings per share for the current year.

Insider Activity

In other news, CEO Jerrell Shelton sold 50,000 shares of Cryoport stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $6.78, for a total value of $339,000.00. Following the completion of the transaction, the chief executive officer now owns 712,747 shares in the company, valued at approximately $4,832,424.66. This trade represents a 6.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ramkumar Mandalam sold 7,369 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $7.46, for a total value of $54,972.74. Following the completion of the sale, the director now owns 59,497 shares of the company’s stock, valued at $443,847.62. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 109,869 shares of company stock worth $735,673. 10.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cryoport

A number of hedge funds have recently added to or reduced their stakes in the business. AXA S.A. lifted its position in shares of Cryoport by 274.2% in the 2nd quarter. AXA S.A. now owns 873,217 shares of the company’s stock worth $6,034,000 after buying an additional 639,855 shares during the last quarter. Bullseye Asset Management LLC raised its stake in Cryoport by 58.7% during the third quarter. Bullseye Asset Management LLC now owns 214,264 shares of the company’s stock worth $1,737,000 after acquiring an additional 79,244 shares during the period. Point72 Asset Management L.P. bought a new position in Cryoport in the third quarter worth about $3,405,000. Barclays PLC boosted its stake in Cryoport by 272.9% in the third quarter. Barclays PLC now owns 81,417 shares of the company’s stock valued at $660,000 after acquiring an additional 59,582 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of Cryoport during the third quarter valued at approximately $105,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

Cryoport Company Profile

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.