Brokerages Set CryoPort, Inc. (NASDAQ:CYRX) Price Target at $18.00

CryoPort, Inc. (NASDAQ:CYRX) has earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $18.00.

CYRX has been the topic of several analyst reports. Roth Capital reiterated a “buy” rating and issued a $21.00 target price on shares of CryoPort in a research note on Friday, August 7th. Needham & Company LLC upped their price target on CryoPort from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. BTIG Research increased their price target on CryoPort from $17.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, July 24th. KeyCorp lifted their price objective on shares of CryoPort from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen raised shares of CryoPort from a “sell” rating to a “hold” rating in a research note on Monday, May 11th.

Insider Activity

In related news, insider Edward J. Zecchini sold 33,600 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were 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 in the company, valued at $1,587,633.93. This trade represents a 23.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Stefanovich sold 169,427 shares of CryoPort stock in a transaction that occurred 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 directly owned 109,850 shares in the company, valued at $1,787,259.50. This represents a 60.67% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 256,441 shares of company stock valued at $4,051,923. 9.50% of the stock is owned by insiders.

Hedge Funds Weigh In On CryoPort

A number of large investors have recently modified their holdings of CYRX. Millennium Management LLC boosted its stake in shares of CryoPort by 23.8% in the fourth quarter. Millennium Management LLC now owns 3,244,802 shares of the company’s stock valued at $31,150,000 after buying an additional 623,896 shares in the last quarter. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 69,550 shares during the period. Assenagon Asset Management S.A. grew its holdings in CryoPort by 0.6% during the first quarter. Assenagon Asset Management S.A. now owns 1,495,683 shares of the company’s stock worth $12,384,000 after acquiring an additional 8,280 shares during the period. UBS Group AG raised its position in 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 acquiring an additional 90,363 shares in the last quarter. Finally, Mak Capital One LLC raised its position in CryoPort by 46.6% in the fourth quarter. Mak Capital One LLC now owns 1,199,225 shares of the company’s stock worth $11,513,000 after acquiring an additional 381,063 shares in the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

CryoPort Stock Performance

Shares of CYRX opened at $17.13 on Thursday. CryoPort has a fifty-two week low of $7.61 and a fifty-two week high of $17.20. The firm has a 50-day simple moving average of $15.51 and a 200-day simple moving average of $12.28. The company has a market capitalization of $867.63 million, a price-to-earnings ratio of -19.03 and a beta of 1.89.

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

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.