CryoPort, Inc. (NASDAQ:CYRX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of CryoPort, Inc. (NASDAQ:CYRX) have been given an average rating of “Moderate Buy” by the nine analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $18.00.

A number of research firms have weighed in on CYRX. Weiss Ratings downgraded CryoPort from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, August 17th. BTIG Research reissued a “buy” rating and set a $25.00 target price on shares of CryoPort in a research note on Friday. Craig Hallum lifted their price objective on shares of CryoPort from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Jefferies Financial Group set a $13.50 price objective on shares of CryoPort in a report on Monday, June 8th. Finally, Guggenheim raised their price target on shares of CryoPort from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, August 7th.

Insider Buying and Selling at CryoPort

In other news, CEO Jerrell Shelton sold 28,800 shares of CryoPort stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $14.91, for a total transaction 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 trade represents a 2.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CryoPort

Several hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new position in CryoPort during the 2nd quarter worth approximately $518,000. Squarepoint Ops LLC grew its stake in shares of CryoPort by 685.1% in the second quarter. Squarepoint Ops LLC now owns 368,424 shares of the company’s stock worth $5,784,000 after purchasing an additional 321,497 shares during the last quarter. Highland Investment Advisors LLC bought a new stake in shares of CryoPort in the second quarter worth about $306,000. Kerrisdale Advisers LLC bought a new position in CryoPort in the second quarter worth about $355,000. Finally, Headlands Technologies LLC raised its holdings in CryoPort by 14.5% in the second quarter. Headlands Technologies LLC now owns 38,742 shares of the company’s stock worth $608,000 after purchasing an additional 4,906 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

CryoPort Stock Up 1.4%

CYRX opened at $17.02 on Monday. CryoPort has a fifty-two week low of $7.61 and a fifty-two week high of $17.20. The firm has a market cap of $862.06 million, a PE ratio of -18.91 and a beta of 1.89. The business has a fifty day simple moving average of $15.78 and a 200-day simple moving average of $13.32.

CryoPort (NASDAQ:CYRX) last posted 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 analyst estimates of $48.18 million. On average, equities research analysts anticipate that CryoPort will post -0.83 EPS for the current fiscal year.

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.