CryoPort (NASDAQ:CYRX) Price Target Raised to $15.00

CryoPort (NASDAQ:CYRX) had its price objective increased by equities research analysts at Needham & Company LLC from $13.00 to $15.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 46.91% from the company’s current price.

A number of other research firms have also commented on CYRX. Weiss Ratings reissued a “sell (d+)” rating on shares of CryoPort in a research note on Friday, March 27th. Wall Street Zen lowered CryoPort from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Craig Hallum started coverage on CryoPort in a research note on Monday, March 30th. They issued a “buy” rating and a $15.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.79.

CryoPort Price Performance

Shares of NASDAQ:CYRX opened at $10.21 on Tuesday. The stock has a market capitalization of $512.52 million, a price-to-earnings ratio of 7.73 and a beta of 1.75. The business’s fifty day moving average price is $8.92 and its two-hundred day moving average price is $9.32. CryoPort has a fifty-two week low of $5.31 and a fifty-two week high of $11.45.

CryoPort (NASDAQ:CYRX) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The business had revenue of $45.45 million during the quarter, compared to analyst estimates of $42.92 million. CryoPort had a negative return on equity of 8.22% and a net margin of 42.35%. Research analysts expect that CryoPort will post -0.73 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jerrell Shelton sold 7,918 shares of the company’s stock in a transaction on Monday, March 16th. The stock was 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 $8,436,008. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert Stefanovich sold 38,700 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $7.76, for a total value of $300,312.00. Following the transaction, the chief financial officer directly owned 255,701 shares in the company, valued at $1,984,239.76. This trade represents a 13.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 59,939 shares of company stock valued at $471,183 over the last 90 days. 10.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On CryoPort

Several large investors have recently made changes to their positions in the company. Millennium Management LLC lifted its stake 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 valued at $31,150,000 after acquiring an additional 623,896 shares during the period. Vanguard Group Inc. lifted its stake in CryoPort by 2.5% in the third quarter. Vanguard Group Inc. now owns 2,858,031 shares of the company’s stock valued at $27,094,000 after buying an additional 69,550 shares during the period. Assenagon Asset Management S.A. lifted its stake in CryoPort by 0.6% in the first quarter. Assenagon Asset Management S.A. now owns 1,495,683 shares of the company’s stock valued at $12,384,000 after buying an additional 8,280 shares during the period. UBS Group AG lifted its stake in CryoPort by 6.8% in the fourth quarter. UBS Group AG now owns 1,421,884 shares of the company’s stock valued at $13,650,000 after buying an additional 90,363 shares during the period. Finally, Mak Capital One LLC lifted its stake in CryoPort by 46.6% in the fourth quarter. Mak Capital One LLC now owns 1,199,225 shares of the company’s stock valued at $11,513,000 after buying an additional 381,063 shares during the period. Institutional investors and hedge funds 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.