CryoPort (NASDAQ:CYRX) Stock Crosses Above 200-Day Moving Average – Here’s Why

CryoPort, Inc. (NASDAQ:CYRX) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.27 and traded as high as $9.33. CryoPort shares last traded at $9.22, with a volume of 600,372 shares.

Analyst Upgrades and Downgrades

CYRX has been the topic of several recent analyst reports. Needham & Company LLC increased their target price on shares of CryoPort from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Craig Hallum initiated coverage on shares of CryoPort in a research note on Monday, March 30th. They issued a “buy” rating and a $15.00 target price on the stock. Wall Street Zen cut shares of CryoPort from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of CryoPort in a research report on Friday, March 27th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, CryoPort currently has an average rating of “Moderate Buy” and a consensus price target of $12.94.

CryoPort Stock Performance

The company’s 50-day moving average price is $8.52 and its two-hundred day moving average price is $9.27. The stock has a market cap of $459.71 million, a PE ratio of 6.98 and a beta of 1.68.

CryoPort (NASDAQ:CYRX) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $45.45 million for the quarter, compared to analysts’ expectations of $42.92 million. CryoPort had a net margin of 42.35% and a negative return on equity of 8.22%. Equities research analysts forecast that CryoPort, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jerrell Shelton sold 7,918 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $8.00, for a total transaction of $63,344.00. Following the transaction, the chief executive officer owned 1,054,501 shares of the company’s stock, valued at approximately $8,436,008. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Stefanovich sold 38,700 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $7.76, for a total transaction of $300,312.00. Following the transaction, the chief financial officer directly owned 255,701 shares in the company, valued at approximately $1,984,239.76. This represents a 13.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 59,939 shares of company stock worth $471,183. 10.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CryoPort

Institutional investors and hedge funds have recently made changes to their positions in the business. Basepoint Wealth LLC bought a new position in shares of CryoPort during the 4th quarter valued at $34,000. Tower Research Capital LLC TRC grew its holdings in shares of CryoPort by 300.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,833 shares of the company’s stock valued at $44,000 after purchasing an additional 4,375 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of CryoPort during the 3rd quarter valued at $53,000. AlphaQuest LLC bought a new position in shares of CryoPort during the 3rd quarter valued at $79,000. Finally, Creative Planning bought a new position in shares of CryoPort during the 2nd quarter valued at $96,000. Institutional investors own 92.90% of the company’s stock.

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.