CryoPort (NASDAQ:CYRX) Shares Up 4.7% - Here's Why

Key Points

• CryoPort shares rose 4.7% to about $16.28, although trading volume was approximately 98% below the average session level.
• Analyst sentiment is broadly positive, with seven Buy ratings, one Hold and one Sell; the consensus rating is Moderate Buy with an $18.00 price target, while several firms recently raised their targets.
• The company exceeded quarterly revenue expectations but narrowly missed its earnings-per-share estimate, reporting a $0.20 loss per share on $48.97 million in revenue. CryoPort remains unprofitable, with a negative 20.05% net margin.

CryoPort, Inc. (NASDAQ:CYRX - Get Free Report) traded up 4.7% during trading on Tuesday . The stock traded as high as $16.21 and last traded at $16.2830. Approximately 9,832 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 579,522 shares. The stock had previously closed at $15.55.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CYRX. BTIG Research raised their price objective on shares of CryoPort from $17.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Jefferies Financial Group set a $13.50 target price on shares of CryoPort in a research note on Monday, June 8th. Guggenheim raised their price target on shares of CryoPort from $12.00 to $16.00 and gave the company a "buy" rating in a report on Friday, August 7th. Needham & Company LLC boosted 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. Finally, Craig Hallum boosted their price target on shares of CryoPort from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, June 3rd. 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, CryoPort has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

CryoPort Stock Performance

The stock's 50 day simple moving average is $15.70 and its 200 day simple moving average is $13.13. The firm has a market cap of $821.54 million, a PE ratio of -18.05 and a beta of 1.89.

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.

Insiders Place Their Bets

In other CryoPort news, CEO Jerrell Shelton sold 28,800 shares of CryoPort stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $14.91, for a total transaction of $429,408.00. Following the completion of the sale, the chief executive officer owned 1,201,814 shares of the company's stock, valued at $17,919,046.74. The trade was a 2.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.50% of the stock is owned by insiders.

Hedge Funds Weigh In On CryoPort

A number of large investors have recently modified their holdings of the company. Engineers Gate Manager LP purchased a new position in CryoPort in the 2nd quarter worth $518,000. Squarepoint Ops LLC boosted its position in CryoPort by 685.1% during the second 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. Highland Investment Advisors LLC bought a new position in shares of CryoPort during the second quarter valued at about $306,000. Kerrisdale Advisers LLC bought a new position in shares of CryoPort during the second quarter valued at about $355,000. Finally, Headlands Technologies LLC increased its holdings in shares of CryoPort by 14.5% in the second quarter. Headlands Technologies LLC now owns 38,742 shares of the company's stock worth $608,000 after buying an additional 4,906 shares during the period. 92.90% of the stock is owned by hedge funds and other institutional investors.

About CryoPort

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.

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