CryoPort (NASDAQ:CYRX) Sets New 52-Week High – Should You Buy?

CryoPort, Inc. (NASDAQ:CYRX) shares hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $18.38 and last traded at $18.2880, with a volume of 155,751 shares traded. The stock had previously closed at $17.44.

Analysts Set New Price Targets

Several analysts recently commented on CYRX shares. BTIG Research raised their target price on CryoPort from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. Needham & Company LLC raised their target price on shares of CryoPort from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Roth Capital restated a “buy” rating and set a $21.00 price objective on shares of CryoPort in a research report on Friday, August 7th. Piper Sandler raised CryoPort to a “buy” rating in a research report on Tuesday, October 13th. Finally, Robert W. Baird set a $26.00 price target on CryoPort in a research report on Tuesday, October 13th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, CryoPort currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

CryoPort Stock Up 4.9%

The stock has a market cap of $926.44 million, a price-to-earnings ratio of -20.32 and a beta of 1.96. The stock’s fifty day moving average is $16.55 and its 200-day moving average is $14.78.

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

Insider Activity

In related news, CEO Jerrell Shelton sold 28,800 shares of CryoPort stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $14.91, for a total transaction of $429,408.00. Following the completion of the transaction, the chief executive officer owned 1,201,814 shares in the company, valued at approximately $17,919,046.74. This trade represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On CryoPort

Hedge funds have recently bought and sold shares of the business. Counterpoint Mutual Funds LLC acquired a new position in CryoPort in the 3rd quarter valued at $324,000. State of Alaska Department of Revenue acquired a new stake in shares of CryoPort in the 3rd quarter valued at approximately $40,000. Engineers Gate Manager LP bought a new position in CryoPort in the 2nd quarter valued at approximately $518,000. Squarepoint Ops LLC increased its holdings in shares of CryoPort by 685.1% during the second quarter. Squarepoint Ops LLC now owns 368,424 shares of the company’s stock worth $5,784,000 after buying an additional 321,497 shares in the last quarter. Finally, Highland Investment Advisors LLC bought a new stake in CryoPort during the 2nd quarter worth $306,000. 92.90% of the stock is owned by institutional investors.

CryoPort Company Profile

CryoPort, Inc is a life sciences logistics company that provides temperature-controlled supply chain solutions for the development, manufacture and delivery of advanced therapies, biologics and other temperature-sensitive materials. Its services are used in areas including cell and gene therapy, regenerative medicine, pharmaceuticals, clinical research and reproductive medicine.

The company offers specialized shipping systems, cryogenic storage and monitoring technologies, logistics coordination, inventory management and related support services.