CryoPort (NASDAQ:CYRX) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

CryoPort (NASDAQ:CYRX) had its price target boosted by equities researchers at Needham & Company LLC from $12.00 to $13.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 55.50% from the company’s previous close.

CYRX has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d+)” rating on shares of CryoPort in a research report on Monday, December 29th. UBS Group boosted their target price on CryoPort from $11.00 to $12.50 and gave the company a “buy” rating in a report on Wednesday, November 5th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, CryoPort currently has a consensus rating of “Moderate Buy” and an average target price of $12.94.

CryoPort Stock Performance

Shares of CYRX opened at $8.36 on Wednesday. The company has a market capitalization of $418.59 million, a price-to-earnings ratio of 6.33 and a beta of 1.69. CryoPort has a 52-week low of $4.63 and a 52-week high of $11.45. The company has a quick ratio of 15.01, a current ratio of 15.77 and a debt-to-equity ratio of 0.40. The stock has a 50 day moving average price of $9.46 and a 200 day moving average price of $9.39.

CryoPort (NASDAQ:CYRX) last released its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). CryoPort had a negative return on equity of 8.33% and a net margin of 42.35%.The company had revenue of $45.45 million for the quarter, compared to analyst estimates of $42.92 million. Research analysts predict that CryoPort will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling

In other CryoPort news, Director Ramkumar Mandalam sold 11,570 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $9.99, for a total transaction of $115,584.30. Following the completion of the sale, the director directly owned 80,758 shares of the company’s stock, valued at approximately $806,772.42. This trade represents a 12.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CryoPort

Large investors have recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in shares of CryoPort by 23.8% during 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 period. Vanguard Group Inc. lifted its stake in shares of CryoPort by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,858,031 shares of the company’s stock worth $27,094,000 after acquiring an additional 69,550 shares during the period. Thematics Asset Management lifted its stake in shares of CryoPort by 12.8% in the 2nd quarter. Thematics Asset Management now owns 1,914,885 shares of the company’s stock worth $14,285,000 after acquiring an additional 216,937 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of CryoPort by 37.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,498,774 shares of the company’s stock valued at $14,208,000 after acquiring an additional 408,263 shares in the last quarter. Finally, UBS Group AG raised its holdings in CryoPort by 6.8% during the fourth quarter. UBS Group AG now owns 1,421,884 shares of the company’s stock worth $13,650,000 after purchasing an additional 90,363 shares in the last quarter. Hedge funds and other 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.