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

CryoPort, Inc. (NASDAQ:CYRX) shares gapped up before the market opened on Friday after BTIG Research raised their price target on the stock from $17.00 to $25.00. The stock had previously closed at $16.03, but opened at $16.59. BTIG Research currently has a buy rating on the stock. CryoPort shares last traded at $16.2060, with a volume of 48,067 shares changing hands.

Several other analysts also recently weighed in on the stock. Guggenheim lifted their price target on shares of CryoPort from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Weiss Ratings raised CryoPort from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. KeyCorp raised their price objective on CryoPort from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Jefferies Financial Group set a $13.50 price objective on CryoPort in a report on Monday, June 8th. Finally, Needham & Company LLC lifted their target price on CryoPort from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.38.

Insider Buying and Selling

In related news, Director Ramkumar Mandalam sold 23,214 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $15.44, for a total transaction of $358,424.16. Following the sale, the director owned 67,894 shares of the company’s stock, valued at $1,048,283.36. This trade represents a 25.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Edward J. Zecchini sold 33,600 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $14.47, for a total transaction of $486,192.00. Following the completion of the transaction, the insider owned 109,719 shares of the company’s stock, valued at $1,587,633.93. This represents a 23.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 227,641 shares of company stock worth $3,622,515 in the last three months. 9.50% of the stock is owned by insiders.

Institutional Investors Weigh In On CryoPort

A number of hedge funds and other institutional investors have recently bought and sold shares of CYRX. Millennium Management LLC grew its holdings in CryoPort by 23.8% in the fourth quarter. Millennium Management LLC now owns 3,244,802 shares of the company’s stock worth $31,150,000 after purchasing an additional 623,896 shares during the last quarter. Vanguard Group Inc. increased its position in shares of CryoPort by 2.5% during the third quarter. Vanguard Group Inc. now owns 2,858,031 shares of the company’s stock worth $27,094,000 after purchasing an additional 69,550 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of CryoPort by 0.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,495,683 shares of the company’s stock valued at $12,384,000 after purchasing an additional 8,280 shares during the last quarter. UBS Group AG lifted its holdings in shares of CryoPort by 6.8% during the 4th quarter. UBS Group AG now owns 1,421,884 shares of the company’s stock valued at $13,650,000 after purchasing an additional 90,363 shares during the last quarter. Finally, Mak Capital One LLC boosted its position in shares of CryoPort by 46.6% in the 4th quarter. Mak Capital One LLC now owns 1,199,225 shares of the company’s stock worth $11,513,000 after purchasing an additional 381,063 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

CryoPort Trading Down 4.1%

The stock has a 50-day moving average price of $15.29 and a two-hundred day moving average price of $11.60. The stock has a market cap of $774.65 million, a price-to-earnings ratio of 11.39 and a beta of 1.88.

CryoPort (NASDAQ:CYRX) last announced its earnings results on Monday, May 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.03). CryoPort had a net margin of 41.57% and a negative return on equity of 7.92%. The business had revenue of $47.80 million for the quarter, compared to analyst estimates of $44.86 million. Research analysts predict that CryoPort, Inc. will post -0.85 earnings per share for the current fiscal year.

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.