CryoPort (NASDAQ:CYRX) Shares Gap Down – Here’s Why

CryoPort, Inc. (NASDAQ:CYRX) shares gapped down before the market opened on Monday . The stock had previously closed at $10.93, but opened at $10.37. CryoPort shares last traded at $10.4450, with a volume of 17,612 shares changing hands.

Analysts Set New Price Targets

CYRX has been the subject of several recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of CryoPort in a report on Monday, December 29th. UBS Group boosted their price target on shares of CryoPort from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Needham & Company LLC raised 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 Wednesday, November 5th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.83.

CryoPort Stock Performance

The stock has a market capitalization of $489.68 million, a PE ratio of 8.36 and a beta of 1.54. The business has a 50 day moving average price of $9.87 and a 200 day moving average price of $9.24. The company has a debt-to-equity ratio of 0.40, a current ratio of 15.77 and a quick ratio of 15.01.

CryoPort (NASDAQ:CYRX) last posted its earnings results on Tuesday, November 4th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.05. CryoPort had a net margin of 35.57% and a negative return on equity of 11.07%. The business had revenue of $44.23 million for the quarter, compared to analysts’ expectations of $41.22 million. As a group, equities research analysts expect that CryoPort, Inc. will post -0.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ramkumar Mandalam sold 11,570 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $9.99, for a total transaction of $115,584.30. Following the transaction, the director directly owned 80,758 shares of the company’s stock, valued at $806,772.42. This represents a 12.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On CryoPort

A number of institutional investors and hedge funds have recently made changes to their positions in CYRX. Nisa Investment Advisors LLC grew its holdings in CryoPort by 299.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,639 shares of the company’s stock valued at $27,000 after purchasing an additional 2,729 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of CryoPort by 300.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,833 shares of the company’s stock valued at $44,000 after acquiring an additional 4,375 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in CryoPort during the 3rd quarter worth approximately $53,000. ProShare Advisors LLC bought a new stake in CryoPort during the 2nd quarter worth approximately $75,000. Finally, AlphaQuest LLC purchased a new position in CryoPort during the third quarter valued at approximately $79,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

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.