Stephens Initiates Coverage on CryoPort (NASDAQ:CYRX)

Research analysts at Stephens began coverage on shares of CryoPort (NASDAQ:CYRX - Get Free Report) in a research note issued to investors on Tuesday. The brokerage set an "overweight" rating and a $13.00 price target on the stock. Stephens' price target indicates a potential upside of 85.08% from the stock's previous close.

Several other equities analysts also recently commented on the stock. Guggenheim reiterated a "buy" rating and set a $10.00 price target on shares of CryoPort in a report on Wednesday, April 16th. Needham & Company LLC reaffirmed a "buy" rating and set a $11.00 target price on shares of CryoPort in a research note on Thursday, May 8th. Roth Mkm reiterated a "buy" rating and set a $15.00 price target on shares of CryoPort in a research report on Tuesday, April 1st. Morgan Stanley lowered their price target on shares of CryoPort from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. Finally, BTIG Research reduced their price target on shares of CryoPort from $13.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, July 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $11.11.

CryoPort Price Performance

Shares of CYRX traded up $0.31 during mid-day trading on Tuesday, reaching $7.02. The company had a trading volume of 50,193 shares, compared to its average volume of 473,014. The company has a market capitalization of $352.18 million, a P/E ratio of -2.99 and a beta of 1.89. The company's 50-day moving average is $6.84 and its 200-day moving average is $6.63. CryoPort has a twelve month low of $4.58 and a twelve month high of $9.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 5.56 and a quick ratio of 5.24.

CryoPort (NASDAQ:CYRX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates of ($0.23) by $0.01. The business had revenue of $41.04 million during the quarter, compared to the consensus estimate of $56.19 million. CryoPort had a negative return on equity of 11.03% and a negative net margin of 50.15%. On average, equities analysts anticipate that CryoPort will post -0.99 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jerrell Shelton sold 16,344 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $7.06, for a total transaction of $115,388.64. Following the transaction, the chief executive officer directly owned 912,419 shares in the company, valued at approximately $6,441,678.14. This represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert J. Hariri sold 12,500 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $6.10, for a total value of $76,250.00. Following the sale, the director owned 8,061 shares of the company's stock, valued at $49,172.10. This represents a 60.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 449,719 shares of company stock valued at $3,042,327. 10.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On CryoPort

Large investors have recently made changes to their positions in the business. Cadian Capital Management LP grew its stake in shares of CryoPort by 14.1% during the fourth quarter. Cadian Capital Management LP now owns 4,927,027 shares of the company's stock valued at $38,332,000 after buying an additional 609,021 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of CryoPort by 11.0% during the 4th quarter. Millennium Management LLC now owns 4,139,869 shares of the company's stock valued at $32,208,000 after purchasing an additional 409,353 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of CryoPort by 1,366.1% during the 4th quarter. LPL Financial LLC now owns 436,766 shares of the company's stock valued at $3,398,000 after purchasing an additional 406,976 shares during the last quarter. Norges Bank acquired a new position in shares of CryoPort in the 4th quarter valued at $2,711,000. Finally, Silvercrest Asset Management Group LLC increased its position in shares of CryoPort by 77.0% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 742,914 shares of the company's stock valued at $5,780,000 after acquiring an additional 323,216 shares during the period. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

CryoPort Company Profile

Cryoport, Inc provides temperature-controlled supply chain solutions in biopharma/pharma, animal health, and human reproductive medicine markets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoport Express Shippers; Cryoport ELITE -80°C Gene Therapy Shipper; Cryoport ELITE Cryosphere Shipper; Cryoport consulting services, including physical, thermal, and shipping qualifications of shipping systems and/or packaging to developing custom packaging solutions; and Cryoport bioservices, such as controlled temperature storage, fulfilment, kit production, secondary packaging, labelling of therapeutic products, and GMP raw materials storage services.

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