CryoPort (NASDAQ:CYRX) Price Target Raised to $15.00

Key Points

• Needham raised its price target on CryoPort to $15 (from $13) and maintained a "buy" rating, implying roughly a 46.9% upside; the consensus Street rating is a "Moderate Buy" with an average target of $14.79.
• Recent results were mixed: CryoPort reported EPS of ($0.21) versus ($0.19) expected (a small miss) but beat revenue estimates with $45.45 million, and the stock trades near $10.21 with a market cap of about $512.5 million.
• Insider and institutional activity notable: insiders sold roughly 59,939 shares (~$471k) over the last 90 days (including the CEO), while insiders still own 10% of the company and institutions own about 92.9%.

CryoPort (NASDAQ:CYRX - Get Free Report) had its price target increased by equities research analysts at Needham & Company LLC from $13.00 to $15.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price objective would suggest a potential upside of 46.91% from the stock's current price.

A number of other brokerages have also commented on CYRX. Weiss Ratings reiterated a "sell (d+)" rating on shares of CryoPort in a report on Friday, March 27th. Craig Hallum assumed coverage on CryoPort in a report on Monday, March 30th. They set a "buy" rating and a $15.00 price target for the company. Finally, Wall Street Zen lowered CryoPort from a "hold" rating to a "sell" rating in a report on Sunday. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $14.79.

CryoPort Stock Down 1.4%

Shares of CYRX stock opened at $10.21 on Tuesday. CryoPort has a 12 month low of $5.31 and a 12 month high of $11.45. The firm has a market cap of $512.52 million, a PE ratio of 7.73 and a beta of 1.75. The stock has a 50 day moving average of $8.92 and a 200-day moving average of $9.32.

CryoPort (NASDAQ:CYRX - Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). CryoPort had a negative return on equity of 8.22% and a net margin of 42.35%.The business had revenue of $45.45 million for the quarter, compared to analyst estimates of $42.92 million. As a group, equities analysts predict that CryoPort will post -0.73 EPS for the current fiscal year.

Insider Activity

In other news, insider Mark W. Sawicki sold 3,235 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $8.00, for a total transaction of $25,880.00. Following the sale, the insider directly owned 103,697 shares in the company, valued at approximately $829,576. The trade was a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jerrell Shelton sold 7,918 shares of the business's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $8.00, for a total value of $63,344.00. Following the sale, the chief executive officer owned 1,054,501 shares in the company, valued at approximately $8,436,008. This represents a 0.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 59,939 shares of company stock worth $471,183. Company insiders own 10.00% of the company's stock.

Institutional Trading of CryoPort

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC grew its position in CryoPort by 663.2% in the third quarter. SG Americas Securities LLC now owns 127,280 shares of the company's stock valued at $1,207,000 after acquiring an additional 110,602 shares during the period. Mak Capital One LLC bought a new stake in CryoPort in the third quarter valued at $7,756,000. Segall Bryant & Hamill LLC bought a new stake in CryoPort in the third quarter valued at $652,000. Conestoga Capital Advisors LLC grew its position in CryoPort by 52.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 159,864 shares of the company's stock valued at $1,535,000 after acquiring an additional 54,675 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new stake in CryoPort in the fourth quarter valued at $352,000. 92.90% of the stock is currently owned by 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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