CryoPort (NASDAQ:CYRX) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• CryoPort shares rose above their 200-day moving average of $12.15, reaching $15.33 before closing near $15.09.
• Analyst sentiment remains favorable: seven analysts rate the stock Buy and two Hold, producing a consensus “Moderate Buy” rating and an average price target of $18.00.
• The company slightly missed quarterly EPS expectations, reporting a $0.20 loss per share versus a projected $0.19 loss, while revenue of $48.97 million exceeded estimates.

Shares of CryoPort, Inc. (NASDAQ:CYRX - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.15 and traded as high as $15.33. CryoPort shares last traded at $15.09, with a volume of 456,217 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CYRX shares. KeyCorp raised their price objective on CryoPort from $15.00 to $17.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 20th. Craig Hallum raised their target price on CryoPort from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, June 3rd. Needham & Company LLC increased their price objective on shares of CryoPort from $15.00 to $19.00 and gave the company a "buy" rating in a report on Friday, August 7th. Guggenheim raised their target price on CryoPort from $12.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of CryoPort from a "sell" rating to a "hold" rating in a research report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, CryoPort presently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

CryoPort Stock Down 1.5%

The stock has a market cap of $764.31 million, a PE ratio of -16.77 and a beta of 1.89. The firm has a fifty day moving average of $15.38 and a 200 day moving average of $12.15.

CryoPort (NASDAQ:CYRX - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). CryoPort had a negative net margin of 20.05% and a negative return on equity of 7.20%. The business had revenue of $48.97 million during the quarter, compared to analyst estimates of $48.18 million. On average, equities research analysts forecast that CryoPort, Inc. will post -0.83 EPS for the current fiscal year.

Insider Activity

In other CryoPort news, 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 value of $358,424.16. Following the sale, the director owned 67,894 shares of the company's stock, valued at approximately $1,048,283.36. The trade was a 25.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Stefanovich sold 169,427 shares of CryoPort 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 completion of the sale, the chief financial officer owned 109,850 shares in the company, valued at approximately $1,787,259.50. This trade represents a 60.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 256,441 shares of company stock worth $4,051,923 in the last ninety days. 9.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CryoPort

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AWM Investment Company Inc. purchased a new stake in CryoPort during the 2nd quarter worth about $959,000. Bank of New York Mellon Corp acquired a new stake in shares of CryoPort during the 2nd quarter worth about $3,363,000. Evanson Financial LLC purchased a new stake in shares of CryoPort during the second quarter worth about $785,000. Empire Financial Management Company LLC raised its position in shares of CryoPort by 24.4% in the first quarter. Empire Financial Management Company LLC now owns 502,575 shares of the company's stock valued at $4,161,000 after buying an additional 98,714 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of CryoPort by 30.7% in the first quarter. Quantinno Capital Management LP now owns 43,966 shares of the company's stock valued at $364,000 after buying an additional 10,337 shares during the last quarter. Hedge funds and other institutional investors own 92.90% of the company's stock.

About CryoPort

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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