CryoPort (NASDAQ:CYRX) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• CryoPort shares rose above their 200-day moving average, reaching $16.16 before closing at $15.78, compared with a 200-day average of $12.72.
• Analyst sentiment is broadly positive, with seven Buy ratings and a consensus “Moderate Buy” rating. The average price target is $18.00, with recent targets ranging from $16.00 to $21.00.
• The company remains unprofitable, reporting a quarterly EPS loss of $0.20 and negative net margins, while insiders sold 87,014 shares worth about $1.3 million over the past 90 days.

CryoPort, Inc. (NASDAQ:CYRX - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.72 and traded as high as $16.16. CryoPort shares last traded at $15.78, with a volume of 420,138 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on CYRX. Guggenheim upped their target price on shares of CryoPort from $12.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Needham & Company LLC lifted their price target on shares of CryoPort from $15.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Craig Hallum boosted their price objective on shares of CryoPort from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. Roth Capital reissued a "buy" rating and set a $21.00 price objective on shares of CryoPort in a research note on Friday, August 7th. Finally, KeyCorp upped their price objective on shares of CryoPort from $15.00 to $17.00 and gave the stock an "overweight" rating in a report on Wednesday, May 20th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.00.

CryoPort Price Performance

The business has a 50 day moving average price of $15.72 and a 200 day moving average price of $12.72. The stock has a market capitalization of $799.26 million, a PE ratio of -17.53 and a beta of 1.89.

CryoPort (NASDAQ:CYRX - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $48.97 million during the quarter, compared to analysts' expectations of $48.18 million. CryoPort had a negative return on equity of 7.20% and a negative net margin of 20.05%. On average, equities analysts expect that CryoPort, Inc. will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Edward J. Zecchini sold 33,600 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $14.47, for a total transaction of $486,192.00. Following the sale, the insider owned 109,719 shares in the company, valued at $1,587,633.93. This represents a 23.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jerrell Shelton sold 28,800 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $14.91, for a total transaction of $429,408.00. Following the sale, the chief executive officer directly owned 1,201,814 shares of the company's stock, valued at $17,919,046.74. This trade represents a 2.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 87,014 shares of company stock valued at $1,295,346. Insiders own 9.50% of the company's stock.

Hedge Funds Weigh In On CryoPort

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Basepoint Wealth LLC purchased a new stake in CryoPort during the 4th quarter valued at $34,000. Tower Research Capital LLC TRC raised its stake in shares of CryoPort by 300.1% in the second quarter. Tower Research Capital LLC TRC now owns 5,833 shares of the company's stock worth $44,000 after purchasing an additional 4,375 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of CryoPort during the fourth quarter valued at $97,000. California State Teachers Retirement System lifted its holdings in shares of CryoPort by 305.0% during the second quarter. California State Teachers Retirement System now owns 10,707 shares of the company's stock valued at $168,000 after purchasing an additional 8,063 shares in the last quarter. Finally, Corient Private Wealth LLC purchased a new stake in shares of CryoPort during the fourth quarter valued at $113,000. 92.90% of the stock is owned by institutional investors.

About CryoPort

CryoPort, Inc NASDAQ: CYRX is a global provider of temperature-controlled logistics solutions for the life sciences industry. The company specializes in cryogenic shipping for critical biological materials, supporting the development, clinical testing and commercialization of cell and gene therapies, biologics, vaccines and reproductive medicine. By offering end-to-end supply chain management, CryoPort helps ensure the integrity and viability of temperature-sensitive products from point of origin to destination.

CryoPort's product portfolio includes proprietary cryogenic dry shippers, advanced active and passive thermal packaging, and real-time data monitoring platforms.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source