CryoPort (NASDAQ:CYRX) Reaches New 1-Year High – Here’s Why

Shares of CryoPort, Inc. (NASDAQ:CYRX) hit a new 52-week high on Wednesday. The company traded as high as $18.88 and last traded at $18.4950, with a volume of 144,643 shares. The stock had previously closed at $18.41.

Analysts Set New Price Targets

CYRX has been the subject of several research reports. Robert W. Baird set a $26.00 price target on CryoPort in a research note on Tuesday, October 13th. Guggenheim upped their target price on CryoPort from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, October 1st. Roth Capital restated a “buy” rating and set a $21.00 target price on shares of CryoPort in a report on Friday, August 7th. BTIG Research boosted their price target on CryoPort from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. Finally, Weiss Ratings upgraded shares of CryoPort from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.33.

CryoPort Trading Down 1.6%

The stock’s 50-day moving average is $16.95 and its 200-day moving average is $13.28. The stock has a market cap of $911.43 million, a P/E ratio of -19.99 and a beta of 1.96.

CryoPort (NASDAQ:CYRX) last posted 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 firm had revenue of $48.97 million during the quarter, compared to the consensus estimate of $48.18 million. On average, equities analysts forecast that CryoPort, Inc. will post -0.83 EPS for the current year.

Insider Activity at CryoPort

In related news, CEO Jerrell Shelton sold 28,800 shares of the company’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 value of $429,408.00. Following the completion of the sale, the chief executive officer owned 1,201,814 shares in the company, valued at approximately $17,919,046.74. This represents a 2.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 9.50% of the company’s stock.

Institutional Trading of CryoPort

A number of hedge funds have recently modified their holdings of CYRX. Bank of New York Mellon Corp purchased a new stake in shares of CryoPort during the second quarter worth $3,363,000. Wellington Management Group LLP bought a new position in shares of CryoPort in the second quarter valued at approximately $8,398,000. Granahan Investment Management LLC boosted its holdings in shares of CryoPort by 475.0% during the 1st quarter. Granahan Investment Management LLC now owns 231,138 shares of the company’s stock worth $1,914,000 after buying an additional 190,938 shares during the period. Squarepoint Ops LLC lifted its position in CryoPort by 685.1% during the 2nd quarter. Squarepoint Ops LLC now owns 368,424 shares of the company’s stock worth $5,784,000 after acquiring an additional 321,497 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in CryoPort by 62.9% during the first quarter. Renaissance Technologies LLC now owns 368,110 shares of the company’s stock valued at $3,048,000 after acquiring an additional 142,070 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 supply chain solutions for the life sciences industry. The company supports the transportation, storage and management of biological materials, including cell and gene therapies, vaccines, biologics, reproductive materials and other temperature-sensitive products.

Its offerings include cryogenic and refrigerated shipping containers, biological material storage, transportation logistics, shipment monitoring and related supply chain management services.