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

Key Points

• CryoPort shares jumped after BTIG Research raised its price target from $17 to $25 and reiterated a buy rating, helping the stock gap up before trading on Friday.
• Other analysts have also been constructive on the name, with multiple firms issuing or maintaining buy ratings; the stock now carries a Moderate Buy consensus and an average price target of $16.38.
• Recent insider selling included large share sales by an executive and the CFO, while the company also reported a quarterly earnings miss on EPS but beat revenue expectations in its latest results.

CryoPort, Inc. (NASDAQ:CYRX - Get Free Report) gapped up prior to trading on Friday after BTIG Research raised their price target on the stock from $17.00 to $25.00. The stock had previously closed at $16.03, but opened at $16.59. BTIG Research currently has a buy rating on the stock. CryoPort shares last traded at $16.2060, with a volume of 48,067 shares traded.

Several other equities analysts have also weighed in on the stock. Guggenheim raised their price objective on shares of CryoPort from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Jefferies Financial Group set a $13.50 price target on shares of CryoPort in a report on Monday, June 8th. Wall Street Zen raised shares of CryoPort from a "sell" rating to a "hold" rating in a research note on Monday, May 11th. Needham & Company LLC upped their price objective on shares of CryoPort from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Finally, Craig Hallum increased their target price on shares of CryoPort from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, June 3rd. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $16.38.

Insider Buying and Selling at CryoPort

In other CryoPort news, insider Edward J. Zecchini sold 33,600 shares of the business's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $14.47, for a total transaction of $486,192.00. Following the completion of the transaction, the insider owned 109,719 shares of the company's stock, valued at $1,587,633.93. The trade was a 23.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Stefanovich sold 169,427 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $16.27, for a total value of $2,756,577.29. Following the sale, the chief financial officer owned 109,850 shares of the company's stock, valued at approximately $1,787,259.50. The trade was a 60.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 227,641 shares of company stock worth $3,622,515 over the last 90 days. Insiders own 9.50% of the company's stock.

Hedge Funds Weigh In On CryoPort

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Group AG boosted its holdings in CryoPort by 6.8% in the 4th quarter. UBS Group AG now owns 1,421,884 shares of the company's stock valued at $13,650,000 after purchasing an additional 90,363 shares during the period. Meros Investment Management LP increased its holdings in shares of CryoPort by 13.9% during the 4th quarter. Meros Investment Management LP now owns 626,427 shares of the company's stock worth $6,014,000 after purchasing an additional 76,687 shares during the period. Penbrook Management LLC raised its position in shares of CryoPort by 251.6% during the first quarter. Penbrook Management LLC now owns 185,775 shares of the company's stock valued at $1,538,000 after buying an additional 132,940 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in shares of CryoPort during the fourth quarter valued at about $2,996,000. Finally, Legato Capital Management LLC bought a new stake in shares of CryoPort in the fourth quarter valued at about $443,000. Institutional investors own 92.90% of the company's stock.

CryoPort Price Performance

The firm has a market cap of $809.66 million, a P/E ratio of 12.01 and a beta of 1.88. The company's 50 day moving average is $15.25 and its two-hundred day moving average is $11.57.

CryoPort (NASDAQ:CYRX - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.23) earnings per share (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 firm had revenue of $47.80 million for the quarter, compared to the consensus estimate of $44.86 million. Research analysts predict that CryoPort, Inc. will post -0.85 EPS for the current year.

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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