CryoPort, Inc. (NASDAQ:CYRX) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• CryoPort, Inc. (NASDAQ:CYRX) has received an average recommendation of "Buy" from ten brokerages, with projections indicating a 12-month price target of $12.00.
• Recent insider transactions revealed that CEO Jerrell Shelton sold 16,344 shares, reducing his stake by 1.76%, while a director sold 12,500 shares, decreasing their ownership by 60.79%.
• The company's latest quarterly earnings report showed a loss of ($0.29) earnings per share, missing expectations but generating revenue of $45.45 million, exceeding analyst estimates.

CryoPort, Inc. (NASDAQ:CYRX - Get Free Report) has received an average rating of "Buy" from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $12.00.

CYRX has been the subject of a number of recent research reports. Stephens initiated coverage on CryoPort in a research report on Tuesday, July 22nd. They set an "overweight" rating and a $13.00 price objective for the company. Guggenheim reiterated a "buy" rating and set a $10.00 price objective on shares of CryoPort in a research report on Wednesday, April 16th. Morgan Stanley dropped their price objective on CryoPort from $8.00 to $7.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. KeyCorp upgraded CryoPort from a "sector weight" rating to an "overweight" rating and set a $15.00 price objective for the company in a research report on Wednesday. Finally, Leerink Partnrs upgraded CryoPort from a "hold" rating to a "strong-buy" rating in a research report on Wednesday.

Insider Transactions at CryoPort

In related news, CEO Jerrell Shelton sold 16,344 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $7.06, for a total transaction of $115,388.64. Following the completion of the transaction, the chief executive officer directly owned 912,419 shares in the company, valued at $6,441,678.14. This represents a 1.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Hariri sold 12,500 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $6.10, for a total value of $76,250.00. Following the transaction, the director owned 8,061 shares of the company's stock, valued at approximately $49,172.10. The trade was a 60.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 490,447 shares of company stock valued at $3,337,198. 10.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CYRX. American Century Companies Inc. grew its stake in CryoPort by 12.0% during the 4th quarter. American Century Companies Inc. now owns 51,443 shares of the company's stock worth $400,000 after buying an additional 5,508 shares during the last quarter. LPL Financial LLC grew its stake in shares of CryoPort by 1,366.1% in the fourth quarter. LPL Financial LLC now owns 436,766 shares of the company's stock worth $3,398,000 after purchasing an additional 406,976 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of CryoPort by 10.8% in the fourth quarter. JPMorgan Chase & Co. now owns 338,315 shares of the company's stock worth $2,632,000 after purchasing an additional 33,078 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of CryoPort by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 387,131 shares of the company's stock worth $3,012,000 after purchasing an additional 1,512 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of CryoPort by 29.4% in the fourth quarter. Wells Fargo & Company MN now owns 28,767 shares of the company's stock worth $224,000 after purchasing an additional 6,533 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors.

CryoPort Trading Down 7.8%

NASDAQ:CYRX opened at $7.56 on Friday. The company has a market capitalization of $379.06 million, a PE ratio of 5.68 and a beta of 1.88. The company has a quick ratio of 5.24, a current ratio of 5.56 and a debt-to-equity ratio of 0.51. CryoPort has a 52-week low of $4.58 and a 52-week high of $9.66. The stock has a fifty day simple moving average of $7.20 and a 200-day simple moving average of $6.58.

CryoPort (NASDAQ:CYRX - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.09). The firm had revenue of $45.45 million for the quarter, compared to analyst estimates of $41.74 million. CryoPort had a negative return on equity of 10.48% and a net margin of 37.21%. On average, equities research analysts expect that CryoPort will post -0.99 earnings per share for the current fiscal year.

About CryoPort

Cryoport, Inc provides temperature-controlled supply chain solutions in biopharma/pharma, animal health, and human reproductive medicine markets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoport Express Shippers; Cryoport ELITE -80°C Gene Therapy Shipper; Cryoport ELITE Cryosphere Shipper; Cryoport consulting services, including physical, thermal, and shipping qualifications of shipping systems and/or packaging to developing custom packaging solutions; and Cryoport bioservices, such as controlled temperature storage, fulfilment, kit production, secondary packaging, labelling of therapeutic products, and GMP raw materials storage services.

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