CryoPort (NASDAQ:CYRX) Reaches New 52-Week High - Time to Buy?

Key Points

• CryoPort, Inc. reached a new 52-week high of $11.34 amid strong trading activity, having previously closed at $10.01.
• Analysts have given enthusiastic ratings for CryoPort, with target prices raised to $15.00 and $16.00 by KeyCorp and Leerink Partners, respectively.
• Insider trading activity includes the sale of shares by directors, indicating a 32.78% decrease in ownership for one director after selling 25,000 shares.

CryoPort, Inc. (NASDAQ:CYRX - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $11.23 and last traded at $11.34, with a volume of 783705 shares changing hands. The stock had previously closed at $10.01.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CYRX shares. KeyCorp upgraded shares of CryoPort from a "sector weight" rating to an "overweight" rating and set a $15.00 target price on the stock in a report on Wednesday, August 6th. Leerink Partners raised shares of CryoPort from a "market perform" rating to an "outperform" rating and set a $16.00 price objective for the company in a research report on Wednesday, August 6th. BTIG Research boosted their target price on shares of CryoPort from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, September 18th. Leerink Partnrs raised shares of CryoPort from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of CryoPort in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $12.56.

CryoPort Price Performance

The company's 50-day moving average is $9.19 and its two-hundred day moving average is $7.46. The company has a debt-to-equity ratio of 0.39, a current ratio of 16.24 and a quick ratio of 15.47. The firm has a market cap of $536.25 million, a P/E ratio of 8.05 and a beta of 1.61.

CryoPort (NASDAQ:CYRX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.09). The business had revenue of $45.45 million for the quarter, compared to analyst estimates of $41.74 million. CryoPort had a negative return on equity of 9.79% and a net margin of 37.21%. CryoPort has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that CryoPort, Inc. will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert J. Hariri sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $9.71, for a total value of $242,750.00. Following the completion of the transaction, the director owned 51,275 shares of the company's stock, valued at $497,880.25. This represents a 32.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ramkumar Mandalam sold 40,728 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $7.24, for a total value of $294,870.72. Following the completion of the sale, the director owned 92,328 shares in the company, valued at $668,454.72. The trade was a 30.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,028 shares of company stock valued at $661,252. 10.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CryoPort

A number of institutional investors and hedge funds have recently modified their holdings of CYRX. Kennedy Capital Management LLC bought a new stake in CryoPort during the 2nd quarter valued at $4,084,000. Assenagon Asset Management S.A. grew its holdings in shares of CryoPort by 37.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,498,774 shares of the company's stock valued at $14,208,000 after buying an additional 408,263 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of CryoPort by 106.4% during the first quarter. Acadian Asset Management LLC now owns 479,695 shares of the company's stock worth $2,911,000 after acquiring an additional 247,288 shares in the last quarter. Readystate Asset Management LP increased its position in shares of CryoPort by 91.6% during the first quarter. Readystate Asset Management LP now owns 500,344 shares of the company's stock worth $3,042,000 after acquiring an additional 239,153 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of CryoPort during the second quarter worth about $1,624,000. 92.90% of the stock is currently 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.

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