CryoPort (NASDAQ:CYRX) Upgraded at Leerink Partners

Key Points

• CryoPort was upgraded from "market perform" to "outperform" by Leerink Partners, with a price target of $16.00 indicating a potential upside of 137.39% from its previous close.
• Despite a recent earnings report showing a loss, analysts generally maintain a positive outlook for the stock, with an average rating of "Moderate Buy" and an average target price of $11.22.
• Insider trading reports indicate significant sales of shares by company executives, with one director selling over 40,000 shares, suggesting a potential decrease in confidence among insiders.

Leerink Partners upgraded shares of CryoPort (NASDAQ:CYRX - Free Report) from a market perform rating to an outperform rating in a report issued on Wednesday, MarketBeat Ratings reports. Leerink Partners currently has $16.00 price target on the stock.

Other research analysts have also issued research reports about the company. 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. Guggenheim reaffirmed a "buy" rating and set a $10.00 price target on shares of CryoPort in a research note on Wednesday, April 16th. BTIG Research decreased their price target on shares of CryoPort from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, July 7th. Morgan Stanley decreased their price target on shares of CryoPort from $8.00 to $7.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. Finally, Stephens assumed coverage on shares of CryoPort in a research note on Tuesday, July 22nd. They set an "overweight" rating and a $13.00 price target for the company. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $12.00.

CryoPort Trading Down 7.8%

CYRX traded down $0.64 on Wednesday, hitting $7.56. The company had a trading volume of 981,876 shares, compared to its average volume of 974,076. The company has a market cap of $379.06 million, a PE ratio of 5.68 and a beta of 1.88. CryoPort has a 12-month low of $4.58 and a 12-month high of $9.66. The company has a quick ratio of 5.24, a current ratio of 5.56 and a debt-to-equity ratio of 0.51. The business's fifty day simple moving average is $7.20 and its 200 day simple moving average is $6.59.

CryoPort (NASDAQ:CYRX - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.09). CryoPort had a net margin of 37.21% and a negative return on equity of 10.48%. The business had revenue of $45.45 million for the quarter, compared to analysts' expectations of $41.74 million. Equities research analysts expect that CryoPort will post -0.99 EPS for the current year.

Insider Buying and Selling at CryoPort

In related news, CEO Jerrell Shelton sold 151,304 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $6.81, for a total value of $1,030,380.24. Following the completion of the transaction, the chief executive officer owned 912,419 shares of the company's stock, valued at $6,213,573.39. The trade was a 14.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Edward J. Zecchini sold 51,500 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $6.84, for a total value of $352,260.00. Following the transaction, the insider directly owned 90,411 shares in the company, valued at approximately $618,411.24. The trade was a 36.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 490,447 shares of company stock worth $3,337,198. 10.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CryoPort

A number of large investors have recently made changes to their positions in CYRX. Intech Investment Management LLC grew its holdings in shares of CryoPort by 14.6% during the second quarter. Intech Investment Management LLC now owns 25,951 shares of the company's stock valued at $194,000 after buying an additional 3,305 shares during the last quarter. Creative Planning purchased a new stake in shares of CryoPort during the second quarter valued at $96,000. Geode Capital Management LLC grew its holdings in shares of CryoPort by 7.8% during the second quarter. Geode Capital Management LLC now owns 1,203,061 shares of the company's stock valued at $8,977,000 after buying an additional 87,418 shares during the last quarter. ProShare Advisors LLC purchased a new stake in shares of CryoPort during the second quarter valued at $75,000. Finally, Acadian Asset Management LLC grew its holdings in shares of CryoPort by 14.4% during the second quarter. Acadian Asset Management LLC now owns 548,842 shares of the company's stock valued at $4,090,000 after buying an additional 69,147 shares during the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

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.