Craig Hallum Initiates Coverage on CryoPort (NASDAQ:CYRX)

Key Points

• Craig Hallum initiated coverage on CryoPort with a Buy rating and a $15 price target, implying roughly an 87% upside from the current share price.
• CryoPort's most recent quarter missed EPS expectations (- $0.21 vs. -$0.19) but beat revenue at $45.45 million, and analysts' consensus is a Moderate Buy with a $13.15 average price target.
• Insiders have sold shares recently (about 59,939 shares worth ~$471k in the last 90 days), insiders own 10.10% of the stock while institutional ownership is high at 92.90%.

Stock analysts at Craig Hallum started coverage on shares of CryoPort (NASDAQ:CYRX - Get Free Report) in a note issued to investors on Monday,Benzinga reports. The brokerage set a "buy" rating and a $15.00 price target on the stock. Craig Hallum's target price points to a potential upside of 87.06% from the stock's current price.

A number of other analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of CryoPort in a report on Friday. Wall Street Zen downgraded CryoPort from a "hold" rating to a "sell" rating in a research report on Saturday, March 7th. Finally, Needham & Company LLC lifted their price target on CryoPort from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.15.

CryoPort Trading Up 2.5%

Shares of NASDAQ CYRX traded up $0.20 during midday trading on Monday, hitting $8.02. 121,720 shares of the company's stock were exchanged, compared to its average volume of 387,833. The business's fifty day moving average price is $8.77 and its two-hundred day moving average price is $9.29. The company has a market cap of $399.83 million, a price-to-earnings ratio of 6.07 and a beta of 1.69. CryoPort has a 12-month low of $4.63 and a 12-month high of $11.45.

CryoPort (NASDAQ:CYRX - Get Free Report) last announced its earnings results on Tuesday, March 3rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). CryoPort had a net margin of 42.35% and a negative return on equity of 8.22%. The company had revenue of $45.45 million for the quarter, compared to the consensus estimate of $42.92 million. Equities analysts expect that CryoPort will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Mark W. Sawicki sold 3,235 shares of the company's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $8.00, for a total value of $25,880.00. Following the completion of the sale, the insider owned 103,697 shares of the company's stock, valued at approximately $829,576. This represents a 3.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Stefanovich sold 38,700 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $7.76, for a total transaction of $300,312.00. Following the transaction, the chief financial officer directly owned 255,701 shares in the company, valued at approximately $1,984,239.76. This represents a 13.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 59,939 shares of company stock valued at $471,183. Corporate insiders own 10.10% of the company's stock.

Institutional Investors Weigh In On CryoPort

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Basepoint Wealth LLC purchased a new stake in CryoPort during the 4th quarter valued at about $34,000. Whittier Trust Co. of Nevada Inc. purchased a new position in CryoPort in the 3rd quarter worth approximately $53,000. Tower Research Capital LLC TRC lifted its position in CryoPort by 300.1% in the second quarter. Tower Research Capital LLC TRC now owns 5,833 shares of the company's stock valued at $44,000 after purchasing an additional 4,375 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of CryoPort during the third quarter valued at approximately $79,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of CryoPort during the fourth quarter valued at approximately $97,000. 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.

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