Jefferies Financial Group Begins Coverage on Cryoport (NASDAQ:CYRX)

Jefferies Financial Group initiated coverage on shares of Cryoport (NASDAQ:CYRX - Free Report) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $21.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on the stock. UBS Group upped their target price on shares of Cryoport from $14.50 to $17.00 and gave the company a neutral rating in a report on Friday, March 15th. Needham & Company LLC lowered their price target on shares of Cryoport from $19.00 to $18.00 and set a buy rating on the stock in a report on Wednesday, March 13th. Finally, Stephens reissued an equal weight rating and issued a $17.00 price target on shares of Cryoport in a report on Wednesday, March 13th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $18.63.

Cryoport Stock Performance

Shares of CYRX stock traded up $0.22 on Thursday, reaching $18.56. The stock had a trading volume of 679,669 shares, compared to its average volume of 465,275. The company has a quick ratio of 11.16, a current ratio of 11.73 and a debt-to-equity ratio of 0.82. The firm's 50-day moving average is $16.35 and its two-hundred day moving average is $14.53. The firm has a market capitalization of $909.07 million, a price-to-earnings ratio of -8.44 and a beta of 1.60. Cryoport has a 12 month low of $9.00 and a 12 month high of $24.17.

Cryoport (NASDAQ:CYRX - Get Free Report) last issued its earnings results on Tuesday, March 12th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.19). The firm had revenue of $57.26 million during the quarter, compared to the consensus estimate of $58.27 million. Cryoport had a negative net margin of 42.69% and a negative return on equity of 11.86%. On average, research analysts expect that Cryoport will post -1.25 EPS for the current fiscal year.

Insider Buying and Selling at Cryoport

In other news, CEO Jerrell Shelton sold 2,631 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $17.54, for a total transaction of $46,147.74. Following the transaction, the chief executive officer now directly owns 692,182 shares of the company's stock, valued at $12,140,872.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Ramkumar Mandalam sold 3,217 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $14.68, for a total transaction of $47,225.56. Following the transaction, the director now directly owns 43,187 shares of the company's stock, valued at $633,985.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jerrell Shelton sold 2,631 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $17.54, for a total transaction of $46,147.74. Following the transaction, the chief executive officer now directly owns 692,182 shares in the company, valued at $12,140,872.28. The disclosure for this sale can be found here. Insiders have sold a total of 73,940 shares of company stock valued at $1,147,538 in the last three months. 10.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Nordea Investment Management AB acquired a new stake in shares of Cryoport during the 3rd quarter worth approximately $1,153,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Cryoport by 285.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 77,409 shares of the company's stock worth $1,061,000 after acquiring an additional 57,348 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Cryoport during the 3rd quarter worth approximately $3,250,000. WCM Investment Management LLC boosted its position in shares of Cryoport by 2.0% during the 3rd quarter. WCM Investment Management LLC now owns 299,984 shares of the company's stock worth $4,113,000 after acquiring an additional 5,839 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Cryoport by 28.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,356,500 shares of the company's stock valued at $18,598,000 after buying an additional 298,995 shares in the last quarter. 92.90% of the stock is owned by institutional investors.

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.