CryoPort (NASDAQ:CYRX) Hits New 1-Year High - Still a Buy?

Key Points

• CryoPort shares reached a new 52-week high of $18.88, trading above both their 50-day and 200-day moving averages.
• Analyst sentiment is largely positive: eight analysts rate the stock a Buy and two rate it a Hold, producing a consensus “Moderate Buy” rating and a $19.33 target price.
• Despite revenue exceeding expectations, CryoPort posted a quarterly EPS loss of $0.20, negative margins and return on equity; CEO Jerrell Shelton also sold 28,800 shares under a pre-arranged trading plan.

CryoPort, Inc. (NASDAQ:CYRX - Get Free Report) shares reached a new 52-week high during trading on Wednesday. The stock traded as high as $18.88 and last traded at $18.4950, with a volume of 144,643 shares. The stock had previously closed at $18.41.

Analysts Set New Price Targets

CYRX has been the topic of a number of analyst reports. Piper Sandler raised CryoPort to a "buy" rating in a research report on Tuesday, October 13th. Needham & Company LLC boosted their price objective on CryoPort from $15.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Weiss Ratings raised CryoPort from a "sell (d)" rating to a "hold (c-)" rating in a research report on Thursday, October 8th. Guggenheim upped their target price on shares of CryoPort from $16.00 to $19.00 and gave the stock a "buy" rating in a research note on Thursday, October 1st. Finally, Robert W. Baird set a $26.00 price target on shares of CryoPort in a research note on Tuesday, October 13th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, CryoPort presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.33.

CryoPort Price Performance

The company has a market cap of $941.08 million, a price-to-earnings ratio of -20.67 and a beta of 1.96. The firm's 50 day simple moving average is $16.84 and its 200-day simple moving average is $13.20.

CryoPort (NASDAQ:CYRX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). CryoPort had a negative return on equity of 7.20% and a negative net margin of 20.05%. The firm had revenue of $48.97 million for the quarter, compared to analysts' expectations of $48.18 million. On average, analysts forecast that CryoPort, Inc. will post -0.83 EPS for the current year.

Insider Transactions at CryoPort

In related news, CEO Jerrell Shelton sold 28,800 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $14.91, for a total transaction of $429,408.00. Following the transaction, the chief executive officer owned 1,201,814 shares in the company, valued at $17,919,046.74. This trade represents a 2.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CryoPort

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CYRX. State of Alaska Department of Revenue purchased a new position in shares of CryoPort during the third quarter worth approximately $40,000. Highland Investment Advisors LLC acquired a new stake in CryoPort during the 2nd quarter worth $306,000. Counterpoint Mutual Funds LLC acquired a new position in CryoPort in the third quarter valued at $324,000. State of Wyoming increased its stake in CryoPort by 9.4% in the first quarter. State of Wyoming now owns 42,520 shares of the company's stock valued at $352,000 after purchasing an additional 3,638 shares during the period. Finally, Kerrisdale Advisers LLC purchased a new stake in shares of CryoPort in the second quarter valued at about $355,000. Hedge funds and other institutional investors own 92.90% of the company's stock.

CryoPort Company Profile

CryoPort, Inc NASDAQ: CYRX provides temperature-controlled supply chain solutions for the life sciences industry. The company supports the transportation, storage and management of biological materials, including cell and gene therapies, vaccines, biologics, reproductive materials and other temperature-sensitive products.

Its offerings include cryogenic and refrigerated shipping containers, biological material storage, transportation logistics, shipment monitoring and related supply chain management services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.