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 lifted its position in shares of CryoPort, Inc. (NASDAQ:CYRX - Free Report) by 13.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 277,500 shares of the company's stock after purchasing an additional 33,500 shares during the period. Needham Investment Management LLC owned 0.55% of CryoPort worth $1,687,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. lifted its position 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 purchasing an additional 2,120 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of CryoPort during the fourth quarter valued at about $51,000. SBI Securities Co. Ltd. lifted its position in shares of CryoPort by 548,750.0% during the first quarter. SBI Securities Co. Ltd. now owns 10,977 shares of the company's stock valued at $67,000 after purchasing an additional 10,975 shares in the last quarter. CWM LLC raised its position in CryoPort by 1,437.0% in the first quarter. CWM LLC now owns 11,328 shares of the company's stock worth $69,000 after acquiring an additional 10,591 shares during the period. Finally, ProShare Advisors LLC bought a new stake in CryoPort in the fourth quarter worth about $95,000. 92.90% of the stock is owned by institutional investors.

CryoPort Price Performance

CryoPort stock traded down $0.26 during midday trading on Wednesday, reaching $9.59. 638,211 shares of the stock were exchanged, compared to its average volume of 540,735. The company's fifty day moving average is $8.13 and its 200-day moving average is $6.84. 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 firm has a market cap of $480.17 million, a PE ratio of 7.21 and a beta of 1.62. CryoPort, Inc. has a 52 week low of $4.58 and a 52 week high of $10.46.

CryoPort (NASDAQ:CYRX - Get Free Report) last posted its earnings results 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). The firm had revenue of $45.45 million for the quarter, compared to the consensus estimate of $41.74 million. CryoPort had a negative return on equity of 9.79% and a net margin of 37.21%. CryoPort has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that CryoPort, Inc. will post -0.99 EPS for the current year.

Insider Activity at CryoPort

In other CryoPort news, CEO Jerrell Shelton sold 151,304 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $6.81, for a total value of $1,030,380.24. Following the completion of the transaction, the chief executive officer owned 912,419 shares of the company's stock, valued at $6,213,573.39. The trade was a 14.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ramkumar Mandalam sold 40,728 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $7.24, for a total transaction of $294,870.72. Following the completion of the transaction, the director directly owned 92,328 shares of the company's stock, valued at approximately $668,454.72. This represents a 30.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 426,932 shares of company stock worth $2,934,785 in the last 90 days. 10.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. BTIG Research lowered their price objective on shares of CryoPort from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, July 7th. Leerink Partners raised shares of CryoPort from a "market perform" rating to an "outperform" rating and set a $16.00 price objective on the stock in a research report on Wednesday, August 6th. Leerink Partnrs raised shares of CryoPort from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. Stephens assumed coverage on shares of CryoPort in a research report on Tuesday, July 22nd. They issued an "overweight" rating and a $13.00 price objective on the stock. Finally, KeyCorp raised shares of CryoPort from a "sector weight" rating to an "overweight" rating and set a $15.00 price objective on the stock in a research report on Wednesday, August 6th. One 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $12.00.

About CryoPort

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.