Cryoport (NASDAQ:CYRX) Shares Gap Up to $16.06

Shares of Cryoport, Inc. (NASDAQ:CYRX) gapped up before the market opened on Tuesday . The stock had previously closed at $16.06, but opened at $16.50. Cryoport shares last traded at $16.79, with a volume of 25,931 shares.

Analysts Set New Price Targets

CYRX has been the topic of several research reports. Jefferies Financial Group initiated coverage on shares of Cryoport in a report on Thursday, April 4th. They issued a “buy” rating and a $21.00 price target on the stock. Stephens restated an “equal weight” rating and issued a $17.00 price target on shares of Cryoport in a report on Wednesday, March 13th. Needham & Company LLC cut their price target on shares of Cryoport from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Finally, UBS Group raised their price target on shares of Cryoport from $14.50 to $17.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.63.

Cryoport Price Performance

The company has a market cap of $797.93 million, a PE ratio of -7.38 and a beta of 1.60. The business’s 50 day moving average price is $16.86 and its 200-day moving average price is $14.91. The company has a quick ratio of 11.16, a current ratio of 11.73 and a debt-to-equity ratio of 0.82.

Cryoport (NASDAQ:CYRX) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.19). The firm had revenue of $57.26 million for the quarter, compared to analysts’ expectations of $58.27 million. Cryoport had a negative net margin of 42.69% and a negative return on equity of 11.86%. As a group, analysts forecast that Cryoport, Inc. will post -1.31 earnings per share for the current year.

Insider Activity

In other news, CEO Jerrell Shelton sold 57,039 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $15.30, for a total transaction of $872,696.70. Following the completion of the sale, the chief executive officer now owns 634,352 shares of the company’s stock, valued at $9,705,585.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ramkumar Mandalam sold 3,217 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $14.68, for a total transaction of $47,225.56. Following the completion of the sale, the director now owns 43,187 shares of the company’s stock, valued at $633,985.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jerrell Shelton sold 57,039 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $15.30, for a total transaction of $872,696.70. Following the sale, the chief executive officer now directly owns 634,352 shares of the company’s stock, valued at approximately $9,705,585.60. The disclosure for this sale can be found here. Insiders have sold 73,940 shares of company stock worth $1,147,538 over the last 90 days. Company insiders own 10.10% of the company’s stock.

Institutional Trading of Cryoport

A number of hedge funds have recently made changes to their positions in CYRX. Natixis Investment Managers International boosted its holdings in Cryoport by 61.5% in the fourth quarter. Natixis Investment Managers International now owns 4,536 shares of the company’s stock worth $70,000 after purchasing an additional 1,727 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cryoport by 13.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,462 shares of the company’s stock worth $157,000 after purchasing an additional 1,395 shares during the period. WINTON GROUP Ltd acquired a new position in Cryoport in the third quarter worth $163,000. Pathstone Family Office LLC acquired a new position in Cryoport in the third quarter worth $165,000. Finally, Quantbot Technologies LP boosted its holdings in Cryoport by 109.0% in the third quarter. Quantbot Technologies LP now owns 12,838 shares of the company’s stock worth $176,000 after purchasing an additional 6,694 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

Cryoport Company Profile

Cryoport, Inc provides temperature-controlled supply chain solutions in biopharma/pharma, animal health, and human reproductive medicine markets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoport Express Shippers; Cryoport ELITE -80°C Gene Therapy Shipper; Cryoport ELITE Cryosphere Shipper; Cryoport consulting services, including physical, thermal, and shipping qualifications of shipping systems and/or packaging to developing custom packaging solutions; and Cryoport bioservices, such as controlled temperature storage, fulfilment, kit production, secondary packaging, labelling of therapeutic products, and GMP raw materials storage services.