CryoPort (NASDAQ:CYRX) Shares Up 4.7% – Time to Buy?

CryoPort, Inc. (NASDAQ:CYRX) shares were up 4.7% during mid-day trading on Tuesday . The stock traded as high as $16.21 and last traded at $16.2830. 9,832 shares changed hands during trading, a decline of 98% from the average session volume of 579,522 shares. The stock had previously closed at $15.55.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Guggenheim upped their target price on shares of CryoPort from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Jefferies Financial Group set a $13.50 price objective on CryoPort in a report on Monday, June 8th. Weiss Ratings cut CryoPort from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Roth Capital reiterated a “buy” rating and set a $21.00 price target on shares of CryoPort in a research report on Friday, August 7th. Finally, Needham & Company LLC boosted their price target on CryoPort from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.00.

CryoPort Price Performance

The firm has a market capitalization of $836.23 million, a PE ratio of -18.34 and a beta of 1.89. The firm has a fifty day moving average price of $15.75 and a 200 day moving average price of $13.24.

CryoPort (NASDAQ:CYRX) last released its earnings results 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). CryoPort had a negative net margin of 20.05% and a negative return on equity of 7.20%. The business had revenue of $48.97 million during the quarter, compared to analysts’ expectations of $48.18 million. On average, sell-side analysts expect that CryoPort, Inc. will post -0.83 EPS for the current year.

Insider Activity at CryoPort

In other CryoPort news, CEO Jerrell Shelton sold 28,800 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $14.91, for a total transaction of $429,408.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CYRX. Basepoint Wealth LLC acquired a new position in shares of CryoPort during the 4th quarter worth about $34,000. State of Wyoming boosted its position in CryoPort by 9.4% during the first quarter. State of Wyoming now owns 42,520 shares of the company’s stock valued at $352,000 after purchasing an additional 3,638 shares during the last quarter. Headlands Technologies LLC boosted its position in CryoPort by 14.5% during the second quarter. Headlands Technologies LLC now owns 38,742 shares of the company’s stock valued at $608,000 after purchasing an additional 4,906 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in CryoPort by 0.6% in the first quarter. Assenagon Asset Management S.A. now owns 1,495,683 shares of the company’s stock valued at $12,384,000 after purchasing an additional 8,280 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of CryoPort by 30.7% during the 1st quarter. Quantinno Capital Management LP now owns 43,966 shares of the company’s stock worth $364,000 after purchasing an additional 10,337 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

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.