BTIG Research Increases CryoPort (NASDAQ:CYRX) Price Target to $25.00

CryoPort (NASDAQ:CYRX) had its target price hoisted by investment analysts at BTIG Research from $17.00 to $25.00 in a report issued on Friday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 62.65% from the stock’s previous close.

A number of other research firms also recently weighed in on CYRX. KeyCorp increased their price target on shares of CryoPort from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Guggenheim boosted their price objective on shares of CryoPort from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded CryoPort from a “sell” rating to a “hold” rating in a report on Monday, May 11th. Needham & Company LLC increased their target price on CryoPort from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Jefferies Financial Group set a $13.50 target price on CryoPort in a report on Monday, June 8th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, CryoPort has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

CryoPort Trading Down 4.1%

Shares of NASDAQ:CYRX opened at $15.37 on Friday. The firm has a market cap of $774.65 million, a price-to-earnings ratio of 11.39 and a beta of 1.88. The stock’s 50-day moving average price is $15.29 and its two-hundred day moving average price is $11.60. CryoPort has a 12-month low of $6.69 and a 12-month high of $16.89.

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

Insider Buying and Selling at CryoPort

In other news, CFO Robert Stefanovich sold 169,427 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $16.27, for a total value of $2,756,577.29. Following the completion of the sale, the chief financial officer owned 109,850 shares of the company’s stock, valued at $1,787,259.50. This represents a 60.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward J. Zecchini sold 33,600 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $14.47, for a total transaction of $486,192.00. Following the completion of the sale, the insider directly owned 109,719 shares of the company’s stock, valued at $1,587,633.93. The trade was a 23.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 227,641 shares of company stock valued at $3,622,515 over the last ninety days. Corporate insiders own 9.50% of the company’s stock.

Institutional Trading of CryoPort

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased its holdings in CryoPort by 23.8% in the 4th quarter. Millennium Management LLC now owns 3,244,802 shares of the company’s stock valued at $31,150,000 after purchasing an additional 623,896 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of CryoPort by 2.5% during the third quarter. Vanguard Group Inc. now owns 2,858,031 shares of the company’s stock worth $27,094,000 after purchasing an additional 69,550 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of CryoPort by 0.6% in the first quarter. Assenagon Asset Management S.A. now owns 1,495,683 shares of the company’s stock worth $12,384,000 after buying an additional 8,280 shares during the period. UBS Group AG boosted its position in shares of CryoPort by 6.8% in the fourth quarter. UBS Group AG now owns 1,421,884 shares of the company’s stock worth $13,650,000 after buying an additional 90,363 shares during the period. Finally, Mak Capital One LLC grew its stake in shares of CryoPort by 46.6% in the fourth quarter. Mak Capital One LLC now owns 1,199,225 shares of the company’s stock valued at $11,513,000 after buying an additional 381,063 shares in the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

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.