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

Key Points

• CryoPort received an average analyst rating of "Moderate Buy" from nine brokerages, with seven buy ratings and two hold ratings. The average 12-month price target is $16.38.
• Several analysts recently raised their price targets on the stock, including Craig Hallum to $20, BTIG Research to $25, and Needham to $15, reflecting generally positive sentiment.
• Insider selling has been notable, with executives and directors selling shares in recent weeks, while institutional investors still own 92.9% of the company. The stock also fell 4.1% and last traded at $15.37.

CryoPort, Inc. (NASDAQ:CYRX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $16.3750.

CYRX has been the topic of a number of research reports. Craig Hallum lifted their price objective on CryoPort from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. BTIG Research upped their target price on CryoPort from $17.00 to $25.00 and gave the company a "buy" rating in a research note on Friday. Wall Street Zen upgraded shares of CryoPort from a "sell" rating to a "hold" rating in a report on Monday, May 11th. Needham & Company LLC increased their price objective on CryoPort from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of CryoPort from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th.

Insiders Place Their Bets

In other CryoPort news, insider Edward J. Zecchini sold 33,600 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $14.47, for a total value of $486,192.00. Following the completion of the transaction, the insider directly owned 109,719 shares in the company, valued at approximately $1,587,633.93. The trade was a 23.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ramkumar Mandalam sold 23,214 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $15.44, for a total transaction of $358,424.16. Following the sale, the director directly owned 67,894 shares of the company's stock, valued at approximately $1,048,283.36. The trade was a 25.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 227,641 shares of company stock worth $3,622,515. 9.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CryoPort

A number of hedge funds and other institutional investors have recently bought and sold shares of CYRX. Evanson Financial LLC acquired a new stake in CryoPort in the second quarter valued at approximately $785,000. Empire Financial Management Company LLC increased its position in shares of CryoPort by 24.4% during the first quarter. Empire Financial Management Company LLC now owns 502,575 shares of the company's stock worth $4,161,000 after purchasing an additional 98,714 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of CryoPort by 30.7% during the 1st quarter. Quantinno Capital Management LP now owns 43,966 shares of the company's stock valued at $364,000 after purchasing an additional 10,337 shares during the last quarter. Granahan Investment Management LLC lifted its holdings 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. Finally, Renaissance Technologies LLC boosted its position in shares of CryoPort by 62.9% in the 1st quarter. Renaissance Technologies LLC now owns 368,110 shares of the company's stock worth $3,048,000 after purchasing an additional 142,070 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company's stock.

CryoPort Trading Down 4.1%

Shares of CYRX opened at $15.37 on Friday. The company has a market capitalization of $774.65 million, a PE ratio of 11.39 and a beta of 1.88. CryoPort has a 12-month low of $6.69 and a 12-month high of $16.89. The business's 50 day moving average is $15.29 and its 200 day moving average is $11.60.

CryoPort (NASDAQ:CYRX - Get Free Report) last released its earnings results on Monday, May 4th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.03). The company had revenue of $47.80 million during the quarter, compared to analysts' expectations of $44.86 million. CryoPort had a negative return on equity of 7.92% and a net margin of 41.57%. Equities research analysts predict that CryoPort will post -0.85 earnings per share for the current year.

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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