CryoPort (NASDAQ:CYRX) Stock Price Breaks Above 200-Day Moving Average – Should You Sell?

CryoPort, Inc. (NASDAQ:CYRX) shares crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $14.60 and traded as high as $17.14. CryoPort shares last traded at $16.84, with a volume of 706,377 shares.

Wall Street Analysts Forecast Growth

CYRX has been the subject of a number of analyst reports. Weiss Ratings raised shares of CryoPort from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Guggenheim increased their target price on shares of CryoPort from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, October 1st. BTIG Research increased their price objective on shares of CryoPort from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday. Piper Sandler upgraded CryoPort to a “buy” rating in a report on Tuesday. Finally, Roth Capital reiterated a “buy” rating and issued a $21.00 target price on shares of CryoPort in a research note on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.33.

CryoPort Price Performance

The company has a market cap of $852.95 million, a P/E ratio of -18.71 and a beta of 1.96. The business has a 50-day moving average of $16.46 and a two-hundred day moving average of $14.60.

CryoPort (NASDAQ:CYRX) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). CryoPort had a negative return on equity of 7.20% and a negative net margin of 20.05%. The firm had revenue of $48.97 million for the quarter, compared to the consensus estimate of $48.18 million. Equities analysts anticipate that CryoPort, Inc. will post -0.83 EPS for the current fiscal year.

Insider Activity at CryoPort

In related news, CEO Jerrell Shelton sold 28,800 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $14.91, for a total value of $429,408.00. Following the transaction, the chief executive officer directly owned 1,201,814 shares of the company’s stock, valued at $17,919,046.74. This represents a 2.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 9.50% of the company’s stock.

Institutional Trading of CryoPort

Institutional investors and hedge funds have recently bought and sold shares of the business. Counterpoint Mutual Funds LLC acquired a new stake in CryoPort during the third quarter worth about $324,000. State of Alaska Department of Revenue acquired a new position in shares of CryoPort in the third quarter worth about $40,000. Engineers Gate Manager LP acquired a new position in CryoPort in the 2nd quarter worth about $518,000. Squarepoint Ops LLC raised its holdings in CryoPort by 685.1% in the 2nd quarter. Squarepoint Ops LLC now owns 368,424 shares of the company’s stock worth $5,784,000 after purchasing an additional 321,497 shares during the period. Finally, Highland Investment Advisors LLC acquired a new stake in CryoPort in the second quarter valued at approximately $306,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

CryoPort Company Profile

CryoPort, Inc is a life sciences logistics company that provides temperature-controlled supply chain solutions for the development, manufacture and delivery of advanced therapies, biologics and other temperature-sensitive materials. Its services are used in areas including cell and gene therapy, regenerative medicine, pharmaceuticals, clinical research and reproductive medicine.

The company offers specialized shipping systems, cryogenic storage and monitoring technologies, logistics coordination, inventory management and related support services.