CryoPort (NASDAQ:CYRX) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

CryoPort, Inc. (NASDAQ:CYRX)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.07 and traded as high as $16.73. CryoPort shares last traded at $16.16, with a volume of 1,163,706 shares traded.

Analysts Set New Price Targets

A number of research analysts have commented on the company. BTIG Research increased their target price on CryoPort from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Needham & Company LLC upped their price target on CryoPort from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Craig Hallum raised their price objective on CryoPort from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday. Wall Street Zen raised shares of CryoPort from a “sell” rating to a “hold” rating in a report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of CryoPort from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, CryoPort currently has a consensus rating of “Moderate Buy” and an average price target of $15.31.

CryoPort Trading Down 2.1%

The stock has a 50-day moving average of $11.60 and a 200-day moving average of $10.07. The firm has a market cap of $814.50 million, a price-to-earnings ratio of 11.97 and a beta of 1.90.

CryoPort (NASDAQ:CYRX) last posted its earnings results on Monday, May 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.03). The company had revenue of $47.80 million during the quarter, compared to the consensus estimate of $44.86 million. CryoPort had a net margin of 41.57% and a negative return on equity of 7.92%. As a group, research analysts expect that CryoPort, Inc. will post -0.85 earnings per share for the current fiscal year.

Insider Buying and Selling at CryoPort

In other news, insider Mark W. Sawicki sold 3,235 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $8.00, for a total transaction of $25,880.00. Following the completion of the transaction, the insider directly owned 103,697 shares in the company, valued at approximately $829,576. The trade was a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Stefanovich sold 38,700 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $7.76, for a total value of $300,312.00. Following the completion of the transaction, the chief financial officer directly owned 255,701 shares of the company’s stock, valued at $1,984,239.76. This trade represents a 13.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 59,939 shares of company stock worth $471,183. 10.00% of the stock is owned by company insiders.

Institutional Trading of CryoPort

Hedge funds have recently added to or reduced their stakes in the business. Mak Capital One LLC bought a new position in shares of CryoPort in the third quarter worth $7,756,000. UBS Group AG raised its stake in shares of CryoPort by 112.7% during the third quarter. UBS Group AG now owns 1,331,521 shares of the company’s stock valued at $12,623,000 after purchasing an additional 705,649 shares in the last quarter. Millennium Management LLC lifted its holdings in CryoPort by 23.8% in the fourth quarter. Millennium Management LLC now owns 3,244,802 shares of the company’s stock worth $31,150,000 after purchasing an additional 623,896 shares during the period. Jacobs Levy Equity Management Inc. grew its position in CryoPort by 283.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 524,288 shares of the company’s stock valued at $4,970,000 after buying an additional 387,440 shares in the last quarter. Finally, First Eagle Investment Management LLC bought a new position in CryoPort in the 4th quarter valued at about $2,996,000. Institutional investors own 92.90% of the company’s stock.

CryoPort Company Profile

CryoPort, Inc (NASDAQ: CYRX) is a global provider of temperature-controlled logistics solutions for the life sciences industry. The company specializes in cryogenic shipping for critical biological materials, supporting the development, clinical testing and commercialization of cell and gene therapies, biologics, vaccines and reproductive medicine. By offering end-to-end supply chain management, CryoPort helps ensure the integrity and viability of temperature-sensitive products from point of origin to destination.

CryoPort’s product portfolio includes proprietary cryogenic dry shippers, advanced active and passive thermal packaging, and real-time data monitoring platforms.