Needham Investment Management LLC Increases Stake in CryoPort, Inc. $CYRX

Key Points

• Needham Investment Management LLC increased its holdings in CryoPort, Inc. by 13.7%, owning 277,500 shares worth approximately $1.69 million at the end of the most recent reporting period.
• CryoPort's stock price is currently at $10.35, with a market capitalization of $518.22 million, a P/E ratio of 7.78, and a reported revenue of $45.45 million for the last quarter.
• Recent analyst ratings indicate a positive outlook for CryoPort, with multiple firms setting price objectives between $10.00 and $16.00, reflecting an average "Buy" rating and a consensus price target of $12.00.

Needham Investment Management LLC raised its stake in CryoPort, Inc. (NASDAQ:CYRX - Free Report) by 13.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 277,500 shares of the company's stock after purchasing an additional 33,500 shares during the quarter. Needham Investment Management LLC owned 0.55% of CryoPort worth $1,687,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CYRX. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of CryoPort by 148.7% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,546 shares of the company's stock valued at $28,000 after acquiring an additional 2,120 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of CryoPort in the fourth quarter worth $51,000. SBI Securities Co. Ltd. grew its stake in shares of CryoPort by 548,750.0% in the first quarter. SBI Securities Co. Ltd. now owns 10,977 shares of the company's stock worth $67,000 after acquiring an additional 10,975 shares during the last quarter. CWM LLC boosted its position in shares of CryoPort by 1,437.0% during the first quarter. CWM LLC now owns 11,328 shares of the company's stock valued at $69,000 after buying an additional 10,591 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of CryoPort during the fourth quarter valued at $95,000. Institutional investors own 92.90% of the company's stock.

CryoPort Stock Up 2.3%

Shares of CYRX traded up $0.23 during midday trading on Thursday, reaching $9.82. 192,800 shares of the stock were exchanged, compared to its average volume of 538,634. CryoPort, Inc. has a 52 week low of $4.58 and a 52 week high of $10.46. The company has a current ratio of 16.24, a quick ratio of 15.47 and a debt-to-equity ratio of 0.39. The company's 50 day moving average is $8.17 and its two-hundred day moving average is $6.86. The company has a market capitalization of $491.44 million, a P/E ratio of 7.38 and a beta of 1.62.

CryoPort (NASDAQ:CYRX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.09). CryoPort had a net margin of 37.21% and a negative return on equity of 9.79%. The company had revenue of $45.45 million for the quarter, compared to the consensus estimate of $41.74 million. CryoPort has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that CryoPort, Inc. will post -0.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on CYRX shares. KeyCorp raised CryoPort from a "sector weight" rating to an "overweight" rating and set a $15.00 target price on the stock in a report on Wednesday, August 6th. Stephens began coverage on CryoPort in a report on Tuesday, July 22nd. They set an "overweight" rating and a $13.00 price target for the company. Leerink Partnrs upgraded CryoPort from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. BTIG Research dropped their target price on CryoPort from $13.00 to $10.00 and set a "buy" rating for the company in a report on Monday, July 7th. Finally, Leerink Partners upgraded CryoPort from a "market perform" rating to an "outperform" rating and set a $16.00 target price for the company in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $12.00.

Insiders Place Their Bets

In related news, CFO Robert Stefanovich sold 9,300 shares of CryoPort stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $8.67, for a total transaction of $80,631.00. Following the completion of the sale, the chief financial officer owned 207,213 shares of the company's stock, valued at $1,796,536.71. The trade was a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ramkumar Mandalam sold 40,728 shares of CryoPort stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $7.24, for a total value of $294,870.72. Following the sale, the director directly owned 92,328 shares of the company's stock, valued at $668,454.72. This trade represents a 30.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 425,037 shares of company stock worth $2,921,501 in the last three months. Insiders own 10.00% of the company's stock.

CryoPort 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.