Brokerages Set CryoPort, Inc. (NASDAQ:CYRX) Target Price at $10.88

Shares of CryoPort, Inc. (NASDAQ:CYRX) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $10.88.

A number of analysts have recently issued reports on CYRX shares. BTIG Research decreased their target price on CryoPort from $13.00 to $10.00 and set a “buy” rating for the company in a report on Monday, July 7th. Guggenheim reiterated a “buy” rating and set a $10.00 target price on shares of CryoPort in a report on Wednesday, April 16th. Roth Mkm reiterated a “buy” rating and set a $15.00 target price on shares of CryoPort in a report on Tuesday, April 1st. UBS Group upped their price target on CryoPort from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. Finally, Morgan Stanley decreased their price target on CryoPort from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, May 5th.

Insiders Place Their Bets

In other news, insider Edward J. Zecchini sold 51,500 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $6.84, for a total transaction of $352,260.00. Following the completion of the transaction, the insider directly owned 90,411 shares in the company, valued at approximately $618,411.24. This represents a 36.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert J. Hariri sold 12,500 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $6.10, for a total value of $76,250.00. Following the transaction, the director owned 8,061 shares of the company’s stock, valued at approximately $49,172.10. This trade represents a 60.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 449,719 shares of company stock valued at $3,042,327. Corporate insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On CryoPort

Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its stake in shares of CryoPort by 23.8% during the 1st quarter. Rhumbline Advisers now owns 78,320 shares of the company’s stock valued at $476,000 after buying an additional 15,036 shares during the last quarter. Graham Capital Management L.P. lifted its stake in CryoPort by 24.9% during the fourth quarter. Graham Capital Management L.P. now owns 28,460 shares of the company’s stock worth $221,000 after purchasing an additional 5,667 shares during the last quarter. Lazard Asset Management LLC bought a new position in CryoPort during the fourth quarter worth $51,000. ProShare Advisors LLC bought a new position in CryoPort during the fourth quarter worth $95,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in CryoPort by 8.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 60,003 shares of the company’s stock worth $467,000 after purchasing an additional 4,902 shares during the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

CryoPort Stock Down 3.2%

CYRX opened at $7.19 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 5.56 and a quick ratio of 5.24. The stock has a market capitalization of $360.51 million, a price-to-earnings ratio of -3.07 and a beta of 1.89. The business has a 50-day moving average of $6.84 and a two-hundred day moving average of $6.65. CryoPort has a 12 month low of $4.58 and a 12 month high of $9.78.

CryoPort (NASDAQ:CYRX) last issued its earnings results on Wednesday, May 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. CryoPort had a negative return on equity of 11.03% and a negative net margin of 50.15%. The business had revenue of $41.04 million during the quarter, compared to analysts’ expectations of $56.19 million. On average, research analysts expect that CryoPort will post -0.99 earnings per share for the current year.

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.