CryoPort (NASDAQ:CYRX) Reaches New 52-Week High - Time to Buy?

Key Points

• CryoPort shares reached a new 52-week high of $18.38, up from a prior close of $17.44, while trading above both their 50-day and 200-day moving averages.
• Analysts remain broadly positive: eight rate the stock a Buy and two a Hold, producing a “Moderate Buy” consensus and an average price target of $19.33.
• The company remains unprofitable, reporting a quarterly EPS loss of $0.20 and a negative net margin of 20.05%; meanwhile, institutional investors own a substantial 92.9% stake in the stock.

CryoPort, Inc. (NASDAQ:CYRX - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday. The company traded as high as $18.38 and last traded at $18.2880, with a volume of 155,751 shares. The stock had previously closed at $17.44.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CYRX shares. Weiss Ratings upgraded shares of CryoPort from a "sell (d)" rating to a "hold (c-)" rating in a research report on Thursday, October 8th. BTIG Research upped their target price on shares of CryoPort from $25.00 to $26.00 and gave the stock a "buy" rating in a report on Tuesday, October 13th. Roth Capital restated a "buy" rating and set a $21.00 price objective on shares of CryoPort in a research report on Friday, August 7th. Guggenheim lifted their price target on shares of CryoPort from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Thursday, October 1st. Finally, Needham & Company LLC raised their price objective on shares of CryoPort from $15.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CryoPort has a consensus rating of "Moderate Buy" and a consensus target price of $19.33.

CryoPort Price Performance

The stock has a 50 day simple moving average of $16.55 and a two-hundred day simple moving average of $14.78. The company has a market cap of $926.44 million, a PE ratio of -20.32 and a beta of 1.96.

CryoPort (NASDAQ:CYRX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). The company had revenue of $48.97 million during the quarter, compared to analyst estimates of $48.18 million. CryoPort had a negative net margin of 20.05% and a negative return on equity of 7.20%. As a group, equities analysts anticipate that CryoPort, Inc. will post -0.83 EPS for the current fiscal year.

Insider Activity at CryoPort

In other CryoPort news, CEO Jerrell Shelton sold 28,800 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $14.91, for a total value of $429,408.00. Following the transaction, the chief executive officer directly owned 1,201,814 shares in the company, valued at approximately $17,919,046.74. This represents a 2.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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

Several hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its stake in CryoPort by 0.6% during the first quarter. Assenagon Asset Management S.A. now owns 1,495,683 shares of the company's stock worth $12,384,000 after buying an additional 8,280 shares during the period. Wellington Management Group LLP acquired a new position in shares of CryoPort during the second quarter worth about $8,398,000. Empire Financial Management Company LLC boosted its position in shares of CryoPort by 24.4% in the first quarter. Empire Financial Management Company LLC now owns 502,575 shares of the company's stock worth $4,161,000 after buying an additional 98,714 shares during the period. Squarepoint Ops LLC raised its holdings in shares of CryoPort by 685.1% during the 2nd quarter. Squarepoint Ops LLC now owns 368,424 shares of the company's stock valued at $5,784,000 after buying an additional 321,497 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of CryoPort by 62.9% during the 1st quarter. Renaissance Technologies LLC now owns 368,110 shares of the company's stock valued at $3,048,000 after buying an additional 142,070 shares during the period. Institutional investors and hedge funds own 92.90% of the company's stock.

About CryoPort

CryoPort, Inc is a life sciences logistics company that provides temperature-controlled supply chain solutions for the development, manufacture and delivery of advanced therapies, biologics and other temperature-sensitive materials. Its services are used in areas including cell and gene therapy, regenerative medicine, pharmaceuticals, clinical research and reproductive medicine.

The company offers specialized shipping systems, cryogenic storage and monitoring technologies, logistics coordination, inventory management and related support services.

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