CryoPort (NASDAQ:CYRX) Sets New 52-Week High – Still a Buy?

CryoPort, Inc. (NASDAQ:CYRX) shares reached a new 52-week high on Wednesday . The company traded as high as $16.83 and last traded at $16.5780, with a volume of 879284 shares. The stock had previously closed at $16.07.

Wall Street Analyst Weigh In

A number of research firms recently commented on CYRX. Needham & Company LLC upped their price objective on CryoPort from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Wall Street Zen upgraded shares of CryoPort from a “sell” rating to a “hold” rating in a report on Monday, May 11th. BTIG Research upped their price target on CryoPort from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Guggenheim increased their price objective on shares of CryoPort from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings upgraded CryoPort from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.11.

CryoPort Price Performance

The firm has a market cap of $831.10 million, a PE ratio of 12.21 and a beta of 1.88. The company has a 50 day moving average price of $14.95 and a 200 day moving average price of $11.34.

CryoPort (NASDAQ:CYRX) last issued its earnings results on Monday, May 4th. The company reported ($0.23) earnings per share 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 firm had revenue of $47.80 million during the quarter, compared to analysts’ expectations of $44.86 million. On average, equities analysts anticipate that CryoPort, Inc. will post -0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CryoPort news, CFO Robert Stefanovich sold 169,427 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $16.27, for a total transaction of $2,756,577.29. Following the transaction, the chief financial officer directly owned 109,850 shares in the company, valued at approximately $1,787,259.50. This represents a 60.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Edward J. Zecchini sold 33,600 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $14.47, for a total transaction of $486,192.00. Following the completion of the transaction, the insider directly owned 109,719 shares of the company’s stock, valued at approximately $1,587,633.93. This trade represents a 23.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 227,641 shares of company stock worth $3,622,515. Corporate insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On CryoPort

Institutional investors have recently modified their holdings of the company. UBS Group AG increased its stake in CryoPort by 112.7% in the 3rd quarter. UBS Group AG now owns 1,331,521 shares of the company’s stock valued at $12,623,000 after purchasing an additional 705,649 shares in the last quarter. Millennium Management LLC boosted its position in 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 in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in CryoPort by 283.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 524,288 shares of the company’s stock worth $4,970,000 after purchasing an additional 387,440 shares in the last quarter. Mak Capital One LLC grew its holdings 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 purchasing an additional 381,063 shares during the last quarter. Finally, First Eagle Investment Management LLC acquired a new stake in CryoPort in the fourth quarter valued at $2,996,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

About CryoPort

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.