Cryoport, Inc. (NASDAQ:CYRX) Given Consensus Recommendation of "Hold" by Brokerages

Cryoport, Inc. (NASDAQ:CYRX - Get Free Report) has been assigned a consensus rating of "Hold" from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $18.63.

A number of research firms have commented on CYRX. Stephens reaffirmed an "equal weight" rating and set a $17.00 target price on shares of Cryoport in a report on Wednesday, March 13th. UBS Group lifted their target price on shares of Cryoport from $14.50 to $17.00 and gave the stock a "neutral" rating in a report on Friday, March 15th. Needham & Company LLC lowered their target price on shares of Cryoport from $19.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, March 13th. Finally, Jefferies Financial Group began coverage on shares of Cryoport in a report on Thursday, April 4th. They set a "buy" rating and a $21.00 target price for the company.

Cryoport Price Performance

Shares of Cryoport stock traded up $0.35 during midday trading on Friday, reaching $16.38. The company had a trading volume of 217,146 shares, compared to its average volume of 377,026. The company has a current ratio of 11.73, a quick ratio of 11.16 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $805.24 million, a price-to-earnings ratio of -7.45 and a beta of 1.60. The stock has a fifty day simple moving average of $16.87 and a 200 day simple moving average of $14.96. Cryoport has a 1-year low of $9.00 and a 1-year high of $24.17.

Cryoport (NASDAQ:CYRX - Get Free Report) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.51) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.19). Cryoport had a negative net margin of 42.69% and a negative return on equity of 11.86%. The company had revenue of $57.26 million during the quarter, compared to analyst estimates of $58.27 million. As a group, equities research analysts forecast that Cryoport will post -1.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ramkumar Mandalam sold 3,217 shares of the company's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $14.68, for a total value of $47,225.56. Following the completion of the transaction, the director now directly owns 43,187 shares of the company's stock, valued at approximately $633,985.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Jerrell Shelton sold 3,723 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $16.35, for a total transaction of $60,871.05. Following the completion of the transaction, the chief executive officer now directly owns 636,951 shares in the company, valued at approximately $10,414,148.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ramkumar Mandalam sold 3,217 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $14.68, for a total transaction of $47,225.56. Following the transaction, the director now owns 43,187 shares of the company's stock, valued at $633,985.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,940 shares of company stock valued at $1,147,538. Company insiders own 10.10% of the company's stock.

Hedge Funds Weigh In On Cryoport

A number of large investors have recently modified their holdings of CYRX. Vanguard Group Inc. raised its holdings in shares of Cryoport by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,559,092 shares of the company's stock valued at $48,795,000 after purchasing an additional 74,037 shares during the period. Cadian Capital Management LP raised its holdings in shares of Cryoport by 30.4% in the 4th quarter. Cadian Capital Management LP now owns 3,464,079 shares of the company's stock valued at $53,659,000 after purchasing an additional 807,340 shares during the period. Invesco Ltd. raised its holdings in shares of Cryoport by 17.9% in the 3rd quarter. Invesco Ltd. now owns 2,062,481 shares of the company's stock valued at $28,277,000 after purchasing an additional 313,853 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Cryoport by 46.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,992,895 shares of the company's stock valued at $30,870,000 after purchasing an additional 636,395 shares during the period. Finally, New York State Common Retirement Fund raised its holdings in Cryoport by 29.9% in the 4th quarter. New York State Common Retirement Fund now owns 1,642,752 shares of the company's stock valued at $25,446,000 after acquiring an additional 378,340 shares during the period. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Cryoport Company 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.