CryoPort (NASDAQ:CYRX) Hits New 1-Year High - What's Next?

Key Points

• CryoPort shares reached a new 52-week high of $16.90, closing near that level at $16.88. The stock’s 50-day and 200-day moving averages were $15.46 and $12.25, respectively.
• Analyst sentiment remains positive overall, with seven Buy ratings, one Hold and one Sell, producing a consensus “Moderate Buy” rating and an $18.00 target price. BTIG issued the highest target at $25.00.
• CryoPort slightly missed quarterly EPS expectations, reporting a loss of $0.20 per share versus the forecasted $0.19 loss, though revenue of $48.97 million exceeded estimates. Insiders sold approximately $4.05 million of stock over the past 90 days, while institutional investors own 92.9% of shares.

CryoPort, Inc. (NASDAQ:CYRX - Get Free Report)'s stock price reached a new 52-week high on Friday . The company traded as high as $16.90 and last traded at $16.88, with a volume of 277096 shares changing hands. The stock had previously closed at $16.71.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded CryoPort from a "sell" rating to a "hold" rating in a research note on Monday, May 11th. BTIG Research upped their target price on CryoPort from $17.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Roth Capital reiterated a "buy" rating and set a $21.00 price target on shares of CryoPort in a research note on Friday, August 7th. Guggenheim raised their price objective on CryoPort from $12.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, Weiss Ratings downgraded CryoPort from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday. Seven 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

CryoPort Stock Performance

The firm's 50 day moving average is $15.46 and its 200-day moving average is $12.25. The stock has a market capitalization of $860.04 million, a price-to-earnings ratio of -18.87 and a beta of 1.89.

CryoPort (NASDAQ:CYRX - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). CryoPort had a negative return on equity of 7.20% and a negative net margin of 20.05%.The firm had revenue of $48.97 million for the quarter, compared to analysts' expectations of $48.18 million. As a group, sell-side analysts forecast that CryoPort, Inc. will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jerrell Shelton sold 28,800 shares of CryoPort stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $14.91, for a total value of $429,408.00. Following the sale, the chief executive officer owned 1,201,814 shares in the company, valued at $17,919,046.74. This trade represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Stefanovich sold 169,427 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $16.27, for a total transaction of $2,756,577.29. Following the transaction, the chief financial officer owned 109,850 shares of the company's stock, valued at approximately $1,787,259.50. This trade represents a 60.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 256,441 shares of company stock valued at $4,051,923 over the last ninety days. 9.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CryoPort

Several large investors have recently bought and sold shares of the company. UBS Group AG boosted its holdings in shares of CryoPort by 112.7% during the 3rd quarter. UBS Group AG now owns 1,331,521 shares of the company's stock worth $12,623,000 after purchasing an additional 705,649 shares during the last quarter. Millennium Management LLC boosted its position in shares of CryoPort by 23.8% during the 4th quarter. Millennium Management LLC now owns 3,244,802 shares of the company's stock worth $31,150,000 after purchasing an additional 623,896 shares during the period. Wellington Management Group LLP acquired a new position in CryoPort in the 2nd quarter valued at about $8,398,000. Jacobs Levy Equity Management Inc. boosted its position in CryoPort by 283.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 524,288 shares of the company's stock valued at $4,970,000 after buying an additional 387,440 shares during the period. Finally, Mak Capital One LLC boosted its stake in shares of CryoPort by 46.6% in the 4th quarter. Mak Capital One LLC now owns 1,199,225 shares of the company's stock valued at $11,513,000 after buying an additional 381,063 shares during the period. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

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.

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