CryoPort (NASDAQ:CYRX) Reaches New 52-Week High – Here’s What Happened

CryoPort, Inc. (NASDAQ:CYRX)’s share price reached a new 52-week high during trading on Friday. The company traded as high as $18.06 and last traded at $17.80, with a volume of 93747 shares. The stock had previously closed at $17.36.

Analysts Set New Price Targets

CYRX has been the subject of several research reports. Needham & Company LLC raised their price objective on shares of CryoPort from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Weiss Ratings downgraded CryoPort from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, August 17th. Jefferies Financial Group set a $13.50 price target on shares of CryoPort in a report on Monday, June 8th. Roth Capital reiterated a “buy” rating and issued a $21.00 price objective on shares of CryoPort in a report on Friday, August 7th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $25.00 price objective on shares of CryoPort in a research note on Friday, September 18th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.38.

CryoPort Price Performance

The stock has a fifty day moving average of $16.01 and a 200 day moving average of $13.95. The firm has a market capitalization of $888.40 million, a P/E ratio of -19.52 and a beta of 1.95.

CryoPort (NASDAQ:CYRX) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The company had revenue of $48.97 million for the quarter, compared to analysts’ expectations of $48.18 million. CryoPort had a negative return on equity of 7.20% and a negative net margin of 20.05%. Equities analysts forecast that CryoPort, Inc. will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling at CryoPort

In other news, CEO Jerrell Shelton sold 28,800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $14.91, for a total transaction of $429,408.00. Following the completion of the sale, the chief executive officer owned 1,201,814 shares in the company, valued at $17,919,046.74. This trade represents a 2.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CryoPort

Several large investors have recently modified their holdings of the business. AXQ Capital LP bought a new stake in shares of CryoPort in the fourth quarter valued at approximately $125,000. Highland Investment Advisors LLC purchased a new position in CryoPort in the 2nd quarter valued at approximately $306,000. State of Wyoming grew its stake in CryoPort by 9.4% in the 1st quarter. State of Wyoming now owns 42,520 shares of the company’s stock valued at $352,000 after buying an additional 3,638 shares in the last quarter. Kerrisdale Advisers LLC bought a new stake in CryoPort during the 2nd quarter valued at $355,000. Finally, Quantinno Capital Management LP raised its holdings in CryoPort by 30.7% during the 1st quarter. Quantinno Capital Management LP now owns 43,966 shares of the company’s stock valued at $364,000 after acquiring an additional 10,337 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.

CryoPort Company Profile

Cryoport, Inc (NASDAQ: CYRX) provides temperature-controlled logistics and supply-chain solutions for the life sciences industry. The company supports the transportation, storage and management of sensitive biological materials, including cell and gene therapies, biologics, vaccines, clinical-trial materials and reproductive tissues.

Its offerings include specialized cryogenic and refrigerated shipping systems, monitoring and tracking technologies, logistics coordination, packaging and storage services, and related bioservices.