CryoPort (NASDAQ:CYRX) Shares Gap Up on Analyst Upgrade

Key Points

• CryoPort's shares surged after BTIG Research raised their price target from $10.00 to $15.00, leading the stock to open at $9.70 after closing at $8.87.
• Multiple analysts have upgraded CryoPort's stock recently, with an overall consensus rating of "Buy" and an average price target of $12.56.
• Insider sales included a significant transaction by Director Ramkumar Mandalam, who sold 40,728 shares, reducing their ownership by over 30%.

CryoPort, Inc. (NASDAQ:CYRX - Get Free Report)'s stock price gapped up prior to trading on Thursday after BTIG Research raised their price target on the stock from $10.00 to $15.00. The stock had previously closed at $8.87, but opened at $9.70. BTIG Research currently has a buy rating on the stock. CryoPort shares last traded at $9.99, with a volume of 425,768 shares changing hands.

Other equities research analysts have also issued reports about the stock. Stephens began coverage on shares of CryoPort in a research report on Tuesday, July 22nd. They set an "overweight" rating and a $13.00 target price on the stock. Leerink Partnrs upgraded shares of CryoPort from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. 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 research report on Wednesday, August 6th. Finally, Leerink Partners upgraded shares of CryoPort from a "market perform" rating to an "outperform" rating and set a $16.00 target price on the stock in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, CryoPort has a consensus rating of "Buy" and an average target price of $12.56.

Insider Transactions at CryoPort

In related news, Director Robert J. Hariri sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $9.71, for a total transaction of $242,750.00. Following the completion of the transaction, the director directly owned 51,275 shares of the company's stock, valued at approximately $497,880.25. This represents a 32.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jerrell Shelton sold 16,344 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $7.06, for a total value of $115,388.64. Following the completion of the sale, the chief executive officer directly owned 912,419 shares of the company's stock, valued at approximately $6,441,678.14. The trade was a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,693 shares of company stock valued at $870,021 over the last three months. 10.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CryoPort

Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in CryoPort by 23.8% during the 1st quarter. Rhumbline Advisers now owns 78,320 shares of the company's stock worth $476,000 after acquiring an additional 15,036 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of CryoPort by 154.5% in the 1st quarter. Russell Investments Group Ltd. now owns 32,761 shares of the company's stock valued at $199,000 after purchasing an additional 19,886 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of CryoPort in the 4th quarter valued at $95,000. Lazard Asset Management LLC acquired a new stake in shares of CryoPort in the 4th quarter valued at $51,000. Finally, CWM LLC boosted its holdings in shares of CryoPort by 1,437.0% in the 1st quarter. CWM LLC now owns 11,328 shares of the company's stock valued at $69,000 after purchasing an additional 10,591 shares in the last quarter. Institutional investors own 92.90% of the company's stock.

CryoPort Stock Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 15.47 and a current ratio of 16.24. The stock has a market cap of $501.65 million, a price-to-earnings ratio of 7.54 and a beta of 1.62. The stock has a fifty day simple moving average of $8.41 and a two-hundred day simple moving average of $7.04.

CryoPort (NASDAQ:CYRX - Get Free Report) last announced 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). CryoPort had a negative return on equity of 9.79% and a net margin of 37.21%.The company had revenue of $45.45 million for the quarter, compared to analyst estimates of $41.74 million. CryoPort has set its FY 2025 guidance at EPS. Analysts expect that CryoPort, Inc. will post -0.99 EPS for the current fiscal year.

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.