CryoPort (NASDAQ:CYRX) Price Target Raised to $25.00

CryoPort (NASDAQ:CYRX) had its target price raised by BTIG Research from $17.00 to $25.00 in a research report released on Friday morning, MarketBeat reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on CYRX. Jefferies Financial Group set a $13.50 target price on CryoPort in a report on Monday, June 8th. Needham & Company LLC increased their price target on shares of CryoPort from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Guggenheim raised their price objective on shares of CryoPort from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. KeyCorp lifted their price objective on shares of CryoPort from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings raised shares of CryoPort from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Seven 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.38.

CryoPort Stock Performance

CryoPort stock opened at $15.37 on Friday. The company has a market capitalization of $774.65 million, a PE ratio of 11.39 and a beta of 1.88. CryoPort has a fifty-two week low of $6.69 and a fifty-two week high of $16.89. The firm has a 50 day moving average price of $15.29 and a 200 day moving average price of $11.61.

CryoPort (NASDAQ:CYRX) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $44.86 million. As a group, equities research analysts forecast that CryoPort will post -0.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ramkumar Mandalam sold 23,214 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $15.44, for a total transaction of $358,424.16. Following the completion of the transaction, the director directly owned 67,894 shares of the company’s stock, valued at approximately $1,048,283.36. The trade was a 25.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert Stefanovich sold 169,427 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $16.27, for a total transaction of $2,756,577.29. Following the sale, the chief financial officer owned 109,850 shares in the company, valued at $1,787,259.50. The trade was a 60.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 227,641 shares of company stock worth $3,622,515 in the last quarter. 9.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On CryoPort

A number of large investors have recently modified their holdings of the company. Millennium Management LLC lifted its position in shares of CryoPort by 23.8% during the 4th quarter. Millennium Management LLC now owns 3,244,802 shares of the company’s stock worth $31,150,000 after purchasing an additional 623,896 shares during the last quarter. Vanguard Group Inc. increased its holdings in CryoPort by 2.5% in the third quarter. Vanguard Group Inc. now owns 2,858,031 shares of the company’s stock valued at $27,094,000 after buying an additional 69,550 shares during the last quarter. Assenagon Asset Management S.A. raised 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 buying an additional 8,280 shares in the last quarter. UBS Group AG lifted its stake in CryoPort by 6.8% during the fourth quarter. UBS Group AG now owns 1,421,884 shares of the company’s stock worth $13,650,000 after purchasing an additional 90,363 shares during the last quarter. Finally, Mak Capital One LLC lifted its position in shares of CryoPort by 46.6% during the 4th quarter. Mak Capital One LLC now owns 1,199,225 shares of the company’s stock worth $11,513,000 after buying an additional 381,063 shares during the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

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.