CryoPort, Inc. (NASDAQ:CYRX) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately bullish: Nine brokerages rate CryoPort “Moderate Buy,” with seven buy ratings, one hold and one sell. The average 12-month price target is $18, while recent targets range from $16 to $25.
• CryoPort reported quarterly revenue of $48.97 million, exceeding expectations, but its loss of $0.20 per share was slightly worse than forecast. Analysts expect a full-year loss of approximately $0.83 per share.
• Institutional investors own 92.9% of the stock and several firms increased their positions, while insiders sold 256,441 shares worth about $4.05 million over the past 90 days.

Shares of CryoPort, Inc. (NASDAQ:CYRX - Get Free Report) have been given a consensus rating of "Moderate Buy" by the nine brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $18.00.

A number of equities analysts have weighed in on CYRX shares. Needham & Company LLC upped their target price on CryoPort from $15.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Craig Hallum lifted their price target on CryoPort from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, June 3rd. Guggenheim boosted their price objective on CryoPort from $12.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of CryoPort from a "sell" rating to a "hold" rating in a research report on Monday, May 11th. Finally, BTIG Research raised their target price on shares of CryoPort from $17.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, July 24th.

CryoPort Price Performance

CYRX opened at $16.31 on Thursday. The firm has a market capitalization of $826.10 million, a P/E ratio of -18.12 and a beta of 1.89. CryoPort has a one year low of $7.61 and a one year high of $16.89. The company has a fifty day moving average price of $15.41 and a 200-day moving average price of $12.20.

CryoPort (NASDAQ:CYRX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). The business had revenue of $48.97 million during the quarter, compared to analysts' expectations of $48.18 million. CryoPort had a negative return on equity of 7.20% and a negative net margin of 20.05%. On average, analysts expect that CryoPort will post -0.83 earnings per share for the current year.

Insider Activity at CryoPort

In other news, CFO Robert Stefanovich sold 169,427 shares of the firm's stock in a transaction on 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 sale, the chief financial officer owned 109,850 shares in the company, valued at approximately $1,787,259.50. This trade represents a 60.67% decrease in their position. The transaction 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 firm's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $14.47, for a total transaction of $486,192.00. Following the sale, the insider owned 109,719 shares in the company, valued at approximately $1,587,633.93. This trade represents a 23.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 256,441 shares of company stock worth $4,051,923 in the last 90 days. 9.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. UBS Group AG lifted its stake in CryoPort by 6.8% during the fourth quarter. UBS Group AG now owns 1,421,884 shares of the company's stock worth $13,650,000 after purchasing an additional 90,363 shares during the last quarter. Granahan Investment Management LLC increased its position in shares of CryoPort by 475.0% during the 1st quarter. Granahan Investment Management LLC now owns 231,138 shares of the company's stock valued at $1,914,000 after purchasing an additional 190,938 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of CryoPort by 62.9% during the 1st quarter. Renaissance Technologies LLC now owns 368,110 shares of the company's stock valued at $3,048,000 after purchasing an additional 142,070 shares during the last quarter. Meros Investment Management LP raised its holdings in shares of CryoPort by 13.9% during the 4th quarter. Meros Investment Management LP now owns 626,427 shares of the company's stock valued at $6,014,000 after buying an additional 76,687 shares in the last quarter. Finally, Empire Financial Management Company LLC lifted its position in CryoPort by 24.4% in the 1st quarter. Empire Financial Management Company LLC now owns 502,575 shares of the company's stock worth $4,161,000 after buying an additional 98,714 shares during the last quarter. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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