CryoPort, Inc. (NASDAQ:CYRX) Receives $11.00 Average Target Price from Analysts

CryoPort, Inc. (NASDAQ:CYRX) has earned an average rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $11.00.

Several analysts have recently weighed in on CYRX shares. UBS Group boosted their price objective on shares of CryoPort from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of CryoPort in a research report on Thursday, May 8th. Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of CryoPort in a research note on Wednesday, April 16th. Roth Mkm reiterated a “buy” rating and set a $15.00 target price on shares of CryoPort in a research report on Tuesday, April 1st. Finally, Morgan Stanley reduced their target price on CryoPort from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, May 5th.

Insiders Place Their Bets

In related news, Director Robert J. Hariri sold 12,500 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $6.10, for a total transaction of $76,250.00. Following the completion of the transaction, the director now directly owns 8,061 shares of the company’s stock, valued at $49,172.10. This represents a 60.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jerrell Shelton sold 69,135 shares of the firm’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $6.47, for a total transaction of $447,303.45. Following the completion of the sale, the chief executive officer now owns 912,419 shares of the company’s stock, valued at approximately $5,903,350.93. The trade was a 7.04% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 420,054 shares of company stock valued at $2,833,558. Insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On CryoPort

A number of large investors have recently modified their holdings of CYRX. Cadian Capital Management LP grew its holdings in CryoPort by 14.1% during the fourth quarter. Cadian Capital Management LP now owns 4,927,027 shares of the company’s stock worth $38,332,000 after acquiring an additional 609,021 shares during the period. Millennium Management LLC grew its stake in shares of CryoPort by 11.0% during the 4th quarter. Millennium Management LLC now owns 4,139,869 shares of the company’s stock worth $32,208,000 after purchasing an additional 409,353 shares during the period. Deutsche Bank AG grew its stake in shares of CryoPort by 0.9% during the 4th quarter. Deutsche Bank AG now owns 1,397,121 shares of the company’s stock worth $10,870,000 after purchasing an additional 12,864 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of CryoPort by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 850,216 shares of the company’s stock valued at $6,615,000 after purchasing an additional 63,301 shares during the period. Finally, Silvercrest Asset Management Group LLC boosted its holdings in CryoPort by 77.0% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 742,914 shares of the company’s stock worth $5,780,000 after buying an additional 323,216 shares in the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

CryoPort Trading Up 3.0%

NASDAQ:CYRX opened at $6.56 on Friday. The stock has a 50-day simple moving average of $6.22 and a 200-day simple moving average of $6.69. The stock has a market cap of $328.92 million, a P/E ratio of -2.80 and a beta of 1.85. CryoPort has a 1 year low of $4.58 and a 1 year high of $9.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 5.24 and a current ratio of 5.56.

CryoPort (NASDAQ:CYRX) last posted its earnings results on Wednesday, May 7th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.01. The firm had revenue of $41.04 million during the quarter, compared to analysts’ expectations of $56.19 million. CryoPort had a negative return on equity of 11.03% and a negative net margin of 50.15%. As a group, analysts anticipate that CryoPort will post -0.99 earnings per share for the current fiscal year.

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.