CryoPort, Inc. (NASDAQ:CYRX) Stock Has Average Target Price of $18.38

by · The Markets Daily

Shares of CryoPort, Inc. (NASDAQ:CYRX – Get Free Report) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $19.33.

A number of brokerages have weighed in on CYRX. BTIG Research boosted their target price on CryoPort from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday. Roth Capital reissued a “buy” rating and issued a $21.00 target price on shares of CryoPort in a report on Friday, August 7th. Weiss Ratings upgraded CryoPort from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Robert W. Baird set a $26.00 price objective on CryoPort in a research report on Tuesday. Finally, Needham & Company LLC raised their price objective on CryoPort from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, August 7th.

View Our Latest Stock Report on CryoPort

Insiders Place Their Bets

In other CryoPort news, CEO Jerrell Shelton sold 28,800 shares of CryoPort 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 completion of the sale, the chief executive officer directly owned 1,201,814 shares in the company, valued at approximately $17,919,046.74. The trade was a 2.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. increased its stake in shares of CryoPort by 0.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,495,683 shares of the company’s stock worth $12,384,000 after acquiring an additional 8,280 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of CryoPort during the second quarter worth about $8,398,000. Meros Investment Management LP increased its position in shares of CryoPort by 13.9% during the fourth quarter. Meros Investment Management LP now owns 626,427 shares of the company’s stock worth $6,014,000 after acquiring an additional 76,687 shares during the period. Squarepoint Ops LLC boosted its stake in shares of CryoPort by 685.1% in 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, Empire Financial Management Company LLC grew its position in shares of CryoPort by 24.4% during 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 in the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

CryoPort Stock Up 2.6%

NASDAQ:CYRX opened at $17.07 on Friday. The firm has a market capitalization of $864.60 million, a P/E ratio of -18.97 and a beta of 1.96. CryoPort has a 52 week low of $7.61 and a 52 week high of $18.36. The company has a fifty day moving average of $16.42 and a 200 day moving average of $14.59.

CryoPort (NASDAQ:CYRX – Get Free Report) last released 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 return on equity of 7.20% and a negative net margin of 20.05%. The business had revenue of $48.97 million during the quarter, compared to analysts’ expectations of $48.18 million. As a group, analysts anticipate that CryoPort will post -0.83 EPS for the current year.

About CryoPort

(Get Free Report)

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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