CryoPort (NASDAQ:CYRX) Price Target Raised to $25.00 at BTIG Research

Key Points

• BTIG Research raised its price target on CryoPort from $17 to $25 and maintained a buy rating, implying about 56% upside from the current price.
• CryoPort’s shares were down 2.4% to $16.03, while the stock has drawn mixed but mostly bullish analyst sentiment with a consensus rating of Moderate Buy and an average target of $16.38.
• Recent insider selling included large stock sales by the CFO and a director, while institutional investors remain heavily involved, owning 92.9% of the company’s shares.

CryoPort (NASDAQ:CYRX - Get Free Report) had its price target upped by analysts at BTIG Research from $17.00 to $25.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price objective indicates a potential upside of 55.96% from the company's current price.

Other analysts have also issued research reports about the company. Weiss Ratings raised CryoPort from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, May 6th. Jefferies Financial Group set a $13.50 price target on shares of CryoPort in a research report on Monday, June 8th. Guggenheim increased their target price on CryoPort from $11.00 to $12.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. KeyCorp boosted their price objective on CryoPort from $15.00 to $17.00 and gave the company an "overweight" rating in a research note on Wednesday, May 20th. Finally, Needham & Company LLC upped their target price on shares of CryoPort from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, CryoPort presently has an average rating of "Moderate Buy" and a consensus target price of $16.38.

CryoPort Stock Down 2.4%

NASDAQ CYRX opened at $16.03 on Friday. The company's 50 day moving average is $15.25 and its 200-day moving average is $11.57. The firm has a market cap of $807.94 million, a P/E ratio of 11.87 and a beta of 1.88. CryoPort has a 12-month low of $6.69 and a 12-month high of $16.89.

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

Insider Buying and Selling at CryoPort

In related news, CFO Robert Stefanovich sold 169,427 shares of CryoPort stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer directly owned 109,850 shares in the company, valued at approximately $1,787,259.50. This trade represents a 60.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ramkumar Mandalam sold 23,214 shares of CryoPort stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $15.44, for a total transaction of $358,424.16. Following the transaction, the director directly owned 67,894 shares of the company's stock, valued at approximately $1,048,283.36. This trade represents a 25.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 227,641 shares of company stock worth $3,622,515. 9.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CryoPort

A number of large investors have recently bought and sold shares of CYRX. Evanson Financial LLC acquired a new position in shares of CryoPort during the 2nd quarter worth approximately $785,000. Empire Financial Management Company LLC boosted its stake in shares of CryoPort by 24.4% in the first quarter. Empire Financial Management Company LLC now owns 502,575 shares of the company's stock worth $4,161,000 after acquiring an additional 98,714 shares during the last quarter. Quantinno Capital Management LP raised its stake in CryoPort by 30.7% in 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 CryoPort by 475.0% in 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 in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of CryoPort by 62.9% during the 1st quarter. Renaissance Technologies LLC now owns 368,110 shares of the company's stock worth $3,048,000 after acquiring an additional 142,070 shares during the period. Institutional investors and hedge funds own 92.90% of the company's stock.

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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