BTIG Research Issues Positive Forecast for CryoPort (NASDAQ:CYRX) Stock Price

CryoPort (NASDAQ:CYRX) had its target price hoisted by BTIG Research from $17.00 to $25.00 in a research note issued to investors on Friday morning, Marketbeat reports. They currently have a buy rating on the stock.

Several other equities analysts also recently issued reports on the stock. Needham & Company LLC increased their price objective on shares of CryoPort from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Guggenheim boosted their price objective on CryoPort from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. KeyCorp increased their target price on CryoPort from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Craig Hallum boosted their price target on CryoPort from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Finally, Weiss Ratings raised CryoPort from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, CryoPort has a consensus rating of “Moderate Buy” and an average target price of $16.38.

CryoPort Stock Down 4.1%

NASDAQ:CYRX opened at $15.37 on Friday. CryoPort has a 52 week low of $6.69 and a 52 week high of $16.89. The stock’s 50-day moving average price is $15.29 and its 200-day moving average price is $11.60. The stock has a market capitalization of $774.65 million, a PE ratio of 11.39 and a beta of 1.88.

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

Insider Activity at CryoPort

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

Hedge Funds Weigh In On CryoPort

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC lifted its position in CryoPort by 285.5% during the 1st quarter. AQR Capital Management LLC now owns 262,596 shares of the company’s stock worth $1,597,000 after acquiring an additional 194,482 shares during the period. Creative Planning acquired a new stake in shares of CryoPort during the second quarter worth $96,000. Rhumbline Advisers lifted its holdings in shares of CryoPort by 17.6% during the second quarter. Rhumbline Advisers now owns 92,098 shares of the company’s stock worth $687,000 after purchasing an additional 13,778 shares during the period. American Century Companies Inc. grew its position in CryoPort by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 88,876 shares of the company’s stock valued at $663,000 after buying an additional 17,459 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in CryoPort in the 2nd quarter valued at $254,000. 92.90% of the stock is owned by institutional investors and hedge funds.

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.