CryoPort (NASDAQ:CYRX) Sets New 52-Week High – Time to Buy?

CryoPort, Inc. (NASDAQ:CYRX) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.83 and last traded at $16.5780, with a volume of 879284 shares changing hands. The stock had previously closed at $16.07.

Analysts Set New Price Targets

A number of brokerages have commented on CYRX. BTIG Research upped their target price on shares of CryoPort from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Craig Hallum lifted their price target on shares of CryoPort from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. 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 report on Tuesday, May 5th. Wall Street Zen upgraded CryoPort from a “sell” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Needham & Company LLC raised their target price on CryoPort from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.11.

CryoPort Trading Up 3.1%

The stock has a 50 day moving average of $14.80 and a 200-day moving average of $11.25. The company has a market capitalization of $835.16 million, a P/E ratio of 12.27 and a beta of 1.88.

CryoPort (NASDAQ:CYRX) last released its earnings results 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 negative return on equity of 7.92% and a net margin of 41.57%.The firm had revenue of $47.80 million for the quarter, compared to the consensus estimate of $44.86 million. As a group, sell-side analysts expect that CryoPort, Inc. will post -0.85 EPS for the current fiscal year.

Insider Activity

In related news, CFO Robert Stefanovich sold 169,427 shares of the company’s 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 transaction, the chief financial officer owned 109,850 shares of the company’s stock, valued at approximately $1,787,259.50. This represents a 60.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $486,192.00. Following the completion of the sale, the insider 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 227,641 shares of company stock worth $3,622,515 in the last three months. Company insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On CryoPort

Several large investors have recently made changes to their positions in the business. Mak Capital One LLC bought a new position in shares of CryoPort in the third quarter worth about $7,756,000. UBS Group AG raised its stake in CryoPort by 112.7% during the 3rd 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 during the period. Millennium Management LLC raised its stake in CryoPort by 23.8% during 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 during the period. Jacobs Levy Equity Management Inc. lifted its holdings in CryoPort by 283.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 524,288 shares of the company’s stock worth $4,970,000 after purchasing 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 worth approximately $2,996,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

About CryoPort

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.