CryoPort (NASDAQ:CYRX) Sets New 12-Month High - Here's What Happened

Key Points

• CryoPort shares reached a new 52-week high, trading as high as $17.50 before closing at $17.12. The stock’s 50-day and 200-day moving averages were $15.78 and $13.36, respectively.
• Analyst sentiment remains generally positive, with seven Buy ratings, one Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $18.00. Recent targets range from $16.00 to $25.00.
• CryoPort slightly missed quarterly EPS estimates, reporting a $0.20 loss per share versus the expected $0.19 loss, though revenue of $48.97 million exceeded forecasts. CEO Jerrell Shelton also sold 28,800 shares under a pre-arranged trading plan.

CryoPort, Inc. (NASDAQ:CYRX - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $17.50 and last traded at $17.12, with a volume of 22232 shares trading hands. The stock had previously closed at $17.02.

Analysts Set New Price Targets

CYRX has been the topic of a number of analyst reports. Weiss Ratings lowered shares of CryoPort from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, August 17th. Roth Capital reissued a "buy" rating and issued a $21.00 price target on shares of CryoPort in a report on Friday, August 7th. Guggenheim boosted their price target on shares of CryoPort from $12.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, August 7th. BTIG Research reaffirmed a "buy" rating and issued a $25.00 price target on shares of CryoPort in a report on Friday. Finally, Craig Hallum increased their price objective on CryoPort from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, June 3rd. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $18.00.

CryoPort Stock Performance

The firm has a market cap of $868.90 million, a PE ratio of -19.09 and a beta of 1.89. The stock's 50 day simple moving average is $15.78 and its 200 day simple moving average is $13.36.

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

Insider Activity

In other news, CEO Jerrell Shelton sold 28,800 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $14.91, for a total value of $429,408.00. Following the completion of 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 can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 9.50% of the company's stock.

Institutional Trading of CryoPort

Several hedge funds and other institutional investors have recently bought and sold shares of CYRX. Basepoint Wealth LLC purchased a new position in shares of CryoPort during the fourth quarter worth approximately $34,000. AXQ Capital LP bought a new stake in shares of CryoPort in the 4th quarter worth approximately $125,000. Highland Investment Advisors LLC purchased a new stake in shares of CryoPort in the 2nd quarter valued at $306,000. Kerrisdale Advisers LLC purchased a new stake in shares of CryoPort in the 2nd quarter valued at $355,000. Finally, Engineers Gate Manager LP bought a new position in shares of CryoPort during the 2nd quarter valued at $518,000. Hedge funds and other institutional investors own 92.90% of the company's stock.

CryoPort Company Profile

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

Its offerings include specialized cryogenic and refrigerated shipping systems, monitoring and tracking technologies, logistics coordination, packaging and storage services, and related bioservices.

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.