CryoPort (NASDAQ:CYRX) Sets New 12-Month High - Still a Buy?

Key Points

• CryoPort shares hit a new 52-week high, trading as high as $16.83 after closing previously at $16.07, extending a strong run in the stock.
• Analyst sentiment remains supportive, with several firms raising price targets and issuing buy ratings; the stock currently carries a consensus Moderate Buy and an average target price of $15.11.
• Despite the rally, the company recently missed EPS estimates while topping revenue expectations, and insiders have sold shares in recent months, including a notable reduction by the CFO.

CryoPort, Inc. (NASDAQ:CYRX - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.83 and last traded at $16.5780, with a volume of 879284 shares trading hands. The stock had previously closed at $16.07.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Craig Hallum increased their target price on CryoPort from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. Jefferies Financial Group set a $13.50 price target on shares of CryoPort in a research note on Monday, June 8th. Needham & Company LLC raised their price objective on shares of CryoPort from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Weiss Ratings raised shares of CryoPort from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. Finally, BTIG Research upped their target price on shares of CryoPort from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.11.

CryoPort Price Performance

The company has a 50 day moving average price of $14.80 and a two-hundred day moving average price of $11.25. The stock has a market cap of $835.16 million, a PE ratio of 12.27 and a beta of 1.88.

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 the consensus estimate of ($0.20) by ($0.03). CryoPort had a net margin of 41.57% and a negative return on equity of 7.92%. The business had revenue of $47.80 million for the quarter, compared to analysts' expectations of $44.86 million. As a group, equities analysts predict that CryoPort, Inc. will post -0.85 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Robert Stefanovich sold 169,427 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $16.27, for a total transaction of $2,756,577.29. Following the sale, the chief financial officer owned 109,850 shares of the company's stock, valued at $1,787,259.50. This trade represents a 60.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ramkumar Mandalam sold 23,214 shares of CryoPort stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $15.44, for a total transaction of $358,424.16. Following the completion of the sale, the director owned 67,894 shares of the company's stock, valued at $1,048,283.36. This represents a 25.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 227,641 shares of company stock valued at $3,622,515 in the last 90 days. 9.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CryoPort

Large investors have recently added to or reduced their stakes in the stock. Mak Capital One LLC bought a new stake in shares of CryoPort in the third quarter worth $7,756,000. UBS Group AG boosted its position in CryoPort by 112.7% in the third 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 grew its stake 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 valued at $31,150,000 after purchasing an additional 623,896 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of CryoPort by 283.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 524,288 shares of the company's stock valued at $4,970,000 after purchasing an additional 387,440 shares during the period. Finally, First Eagle Investment Management LLC purchased a new stake in shares of CryoPort during the 4th quarter valued at about $2,996,000. Institutional investors own 92.90% of the company's stock.

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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