CryoPort (NASDAQ:CYRX) Stock Gets Price Target Boost from KeyCorp

Key Points

• KeyCorp raised its CryoPort price target from $17 to $20 and maintained an “overweight” rating, implying 24.61% upside from the stock’s current price.
• Analyst sentiment is broadly positive: seven analysts rate the stock a Buy and two a Hold, for a consensus “Moderate Buy” rating and an average target of $21.69.
• CryoPort’s latest quarterly results were mixed: revenue of $50.22 million topped expectations, but its loss of $0.25 per share was wider than analysts’ forecast of $0.18.

CryoPort (NASDAQ:CYRX - Get Free Report) had its price objective lifted by equities research analysts at KeyCorp from $17.00 to $20.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's price objective would suggest a potential upside of 24.61% from the stock's current price.

Other equities research analysts also recently issued reports about the company. Piper Sandler raised CryoPort to a "buy" rating in a research note on Tuesday, October 13th. Roth Capital reissued a "buy" rating and set a $21.00 target price on shares of CryoPort in a research report on Friday, August 7th. BTIG Research raised their price target on CryoPort from $25.00 to $26.00 and gave the stock a "buy" rating in a research report on Tuesday, October 13th. Robert W. Baird set a $26.00 price objective on shares of CryoPort in a research note on Tuesday, October 13th. Finally, Weiss Ratings raised shares of CryoPort from a "sell (d)" rating to a "hold (c-)" rating in a research note on Thursday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.69.

CryoPort Stock Performance

CYRX stock opened at $16.05 on Friday. The company's fifty day moving average price is $16.93 and its 200-day moving average price is $13.42. CryoPort has a one year low of $7.61 and a one year high of $18.88. The company has a market capitalization of $812.93 million, a PE ratio of -17.83 and a beta of 1.89.

CryoPort (NASDAQ:CYRX - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.07). CryoPort had a negative return on equity of 7.20% and a negative net margin of 20.05%. The firm had revenue of $50.22 million during the quarter, compared to analysts' expectations of $48.66 million. On average, research analysts predict that CryoPort will post -0.83 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CYRX. State of Alaska Department of Revenue purchased a new stake in CryoPort in the 3rd quarter valued at $40,000. State of Wyoming lifted its stake in shares of CryoPort by 9.4% in the 1st quarter. State of Wyoming now owns 42,520 shares of the company's stock worth $352,000 after acquiring an additional 3,638 shares during the period. Headlands Technologies LLC lifted its stake in shares of CryoPort by 14.5% in the 2nd quarter. Headlands Technologies LLC now owns 38,742 shares of the company's stock worth $608,000 after acquiring an additional 4,906 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of CryoPort by 30.7% in the first quarter. Quantinno Capital Management LP now owns 43,966 shares of the company's stock valued at $364,000 after acquiring an additional 10,337 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of CryoPort during the third quarter worth about $324,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

About CryoPort

CryoPort, Inc NASDAQ: CYRX provides temperature-controlled supply chain solutions for the life sciences industry. The company supports the transportation, storage and management of biological materials, including cell and gene therapies, vaccines, biologics, reproductive materials and other temperature-sensitive products.

Its offerings include cryogenic and refrigerated shipping containers, biological material storage, transportation logistics, shipment monitoring and related supply chain management services.

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