CryoPort (NASDAQ:CYRX) Price Target Lowered to $10.00 at BTIG Research

CryoPort (NASDAQ:CYRX - Get Free Report) had its target price lowered by equities research analysts at BTIG Research from $13.00 to $10.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's price target suggests a potential upside of 31.58% from the stock's previous close.

Other analysts have also issued research reports about the company. Morgan Stanley decreased their price target on CryoPort from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. Needham & Company LLC restated a "buy" rating and set a $11.00 target price on shares of CryoPort in a research report on Thursday, May 8th. UBS Group boosted their target price on CryoPort from $10.00 to $11.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Guggenheim reiterated a "buy" rating and issued a $10.00 price objective on shares of CryoPort in a report on Wednesday, April 16th. Finally, Roth Mkm reissued a "buy" rating and issued a $15.00 target price on shares of CryoPort in a research note on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $10.88.

CryoPort Stock Performance

Shares of CYRX stock traded up $0.31 during trading on Monday, reaching $7.60. The company had a trading volume of 329,987 shares, compared to its average volume of 460,220. The company has a debt-to-equity ratio of 0.51, a current ratio of 5.56 and a quick ratio of 5.24. The firm's 50 day simple moving average is $6.57 and its two-hundred day simple moving average is $6.65. The company has a market capitalization of $381.06 million, a PE ratio of -3.25 and a beta of 1.89. CryoPort has a one year low of $4.58 and a one year high of $9.77.

CryoPort (NASDAQ:CYRX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.01. CryoPort had a negative return on equity of 11.03% and a negative net margin of 50.15%. The company had revenue of $41.04 million for the quarter, compared to the consensus estimate of $56.19 million. Sell-side analysts forecast that CryoPort will post -0.99 earnings per share for the current year.

Insider Transactions at CryoPort

In related news, Director Ramkumar Mandalam sold 13,321 shares of the firm's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $7.01, for a total value of $93,380.21. Following the completion of the transaction, the director directly owned 73,056 shares of the company's stock, valued at approximately $512,122.56. This trade represents a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zecchini sold 51,500 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $6.84, for a total transaction of $352,260.00. Following the completion of the transaction, the insider directly owned 90,411 shares of the company's stock, valued at $618,411.24. This represents a 36.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 449,719 shares of company stock valued at $3,042,327 over the last three months. 10.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CryoPort

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of CryoPort by 148.7% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,546 shares of the company's stock valued at $28,000 after acquiring an additional 2,120 shares during the period. Lazard Asset Management LLC acquired a new position in CryoPort in the fourth quarter valued at about $51,000. Quarry LP acquired a new position in CryoPort in the fourth quarter valued at about $69,000. SBI Securities Co. Ltd. raised its stake in CryoPort by 548,750.0% in the first quarter. SBI Securities Co. Ltd. now owns 10,977 shares of the company's stock valued at $67,000 after purchasing an additional 10,975 shares in the last quarter. Finally, CWM LLC raised its stake in CryoPort by 1,437.0% in the first quarter. CWM LLC now owns 11,328 shares of the company's stock valued at $69,000 after purchasing an additional 10,591 shares in the last quarter. 92.90% of the stock is owned by institutional investors.

CryoPort Company Profile

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.