CryoPort (NASDAQ:CYRX) Shares Gap Up on Analyst Upgrade

CryoPort, Inc. (NASDAQ:CYRX)’s share price gapped up before the market opened on Thursday after BTIG Research raised their price target on the stock from $10.00 to $15.00. The stock had previously closed at $8.87, but opened at $9.70. BTIG Research currently has a buy rating on the stock. CryoPort shares last traded at $9.99, with a volume of 425,768 shares traded.

CYRX has been the subject of several other research reports. Leerink Partners upgraded CryoPort from a “market perform” rating to an “outperform” rating and set a $16.00 price target for the company in a report on Wednesday, August 6th. Stephens initiated coverage on CryoPort in a report on Tuesday, July 22nd. They set an “overweight” rating and a $13.00 price target for the company. KeyCorp upgraded CryoPort from a “sector weight” rating to an “overweight” rating and set a $15.00 price target for the company in a report on Wednesday, August 6th. Finally, Leerink Partnrs upgraded CryoPort from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $12.56.

Insider Transactions at CryoPort

In other news, Director Ramkumar Mandalam sold 40,728 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $7.24, for a total transaction of $294,870.72. Following the completion of the transaction, the director owned 92,328 shares in the company, valued at approximately $668,454.72. This represents a 30.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert J. Hariri sold 25,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $9.71, for a total value of $242,750.00. Following the transaction, the director owned 51,275 shares of the company’s stock, valued at $497,880.25. The trade was a 32.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,693 shares of company stock worth $870,021 over the last 90 days. 10.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CYRX. Nisa Investment Advisors LLC lifted its holdings in CryoPort by 299.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,639 shares of the company’s stock worth $27,000 after purchasing an additional 2,729 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in CryoPort by 300.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,833 shares of the company’s stock worth $44,000 after purchasing an additional 4,375 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in CryoPort during the 4th quarter worth about $51,000. SBI Securities Co. Ltd. lifted its holdings in CryoPort by 548,750.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 10,977 shares of the company’s stock worth $67,000 after purchasing an additional 10,975 shares in the last quarter. Finally, CWM LLC lifted its holdings in CryoPort by 1,437.0% during the 1st quarter. CWM LLC now owns 11,328 shares of the company’s stock worth $69,000 after purchasing an additional 10,591 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

CryoPort Price Performance

The business has a fifty day moving average of $8.37 and a 200-day moving average of $7.00. The firm has a market cap of $503.20 million, a PE ratio of 7.56 and a beta of 1.62. The company has a current ratio of 16.24, a quick ratio of 15.47 and a debt-to-equity ratio of 0.39.

CryoPort (NASDAQ:CYRX) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.09). The company had revenue of $45.45 million for the quarter, compared to analysts’ expectations of $41.74 million. CryoPort had a negative return on equity of 9.79% and a net margin of 37.21%. CryoPort has set its FY 2025 guidance at EPS. As a group, research analysts predict that CryoPort, Inc. will post -0.99 earnings per share for the current year.

About CryoPort

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.