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

Key Points

• CryoPort shares moved above their 200-day moving average during trading, with the stock reaching as high as $15.28 and last trading around $15.26. The breakout comes after a recent gain of about 1.3%.
• Analyst sentiment is generally constructive, with eight analysts rating the stock a Buy and two a Hold. Recent updates included higher price targets from Needham and BTIG, and the consensus target price is $15.11.
• Insider selling has been notable, including recent share sales by Director Ramkumar Mandalam and insider Edward J. Zecchini. Insiders sold 227,641 shares worth about $3.62 million over the last 90 days.

CryoPort, Inc. (NASDAQ:CYRX - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.07 and traded as high as $15.28. CryoPort shares last traded at $15.26, with a volume of 525,738 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Needham & Company LLC increased their target price 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. Jefferies Financial Group set a $13.50 price target on CryoPort in a research note on Monday, June 8th. Wall Street Zen raised CryoPort from a "sell" rating to a "hold" rating in a report on Monday, May 11th. Weiss Ratings upgraded CryoPort from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, May 6th. Finally, BTIG Research lifted their price objective on CryoPort from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, CryoPort currently has a consensus rating of "Moderate Buy" and an average target price of $15.11.

CryoPort Stock Up 1.3%

The firm has a fifty day moving average price of $14.37 and a 200 day moving average price of $11.07. The company has a market cap of $769.10 million, a P/E ratio of 11.30 and a beta of 1.88.

CryoPort (NASDAQ:CYRX - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.03). The business had revenue of $47.80 million during the quarter, compared to the consensus estimate of $44.86 million. CryoPort had a net margin of 41.57% and a negative return on equity of 7.92%. On average, sell-side analysts anticipate that CryoPort, Inc. will post -0.85 earnings per share for the current year.

Insider Transactions at CryoPort

In other news, Director Ramkumar Mandalam sold 23,214 shares of the firm's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $15.44, for a total value of $358,424.16. Following the transaction, the director owned 67,894 shares of the company's stock, valued at approximately $1,048,283.36. This trade represents a 25.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward J. Zecchini sold 33,600 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $14.47, for a total transaction of $486,192.00. Following the sale, the insider directly owned 109,719 shares of the company's stock, valued at approximately $1,587,633.93. This trade represents a 23.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 227,641 shares of company stock worth $3,622,515 over the last 90 days. 10.00% of the stock is owned by insiders.

Hedge Funds Weigh In On CryoPort

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LPL Financial LLC lifted its stake in shares of CryoPort by 6.6% in the 4th quarter. LPL Financial LLC now owns 23,306 shares of the company's stock valued at $224,000 after purchasing an additional 1,433 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of CryoPort by 9.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,178 shares of the company's stock worth $136,000 after purchasing an additional 1,557 shares during the last quarter. State of Wyoming grew its stake in shares of CryoPort by 30.2% during the second quarter. State of Wyoming now owns 14,218 shares of the company's stock worth $106,000 after purchasing an additional 3,301 shares during the period. Basepoint Wealth LLC acquired a new stake in shares of CryoPort during the fourth quarter worth $34,000. Finally, BNP Paribas Financial Markets increased its holdings in CryoPort by 55.2% in the third quarter. BNP Paribas Financial Markets now owns 11,880 shares of the company's stock valued at $113,000 after purchasing an additional 4,225 shares during the last quarter. 92.90% of the stock is owned by institutional investors.

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.

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