CryoPort, Inc. (NASDAQ:CYRX) Receives $15.11 Consensus Price Target from Brokerages

CryoPort, Inc. (NASDAQ:CYRX) has been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $15.1111.

A number of brokerages have commented on CYRX. KeyCorp lifted their price objective on shares of CryoPort from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. BTIG Research increased their price target on shares of CryoPort from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Craig Hallum lifted their price target on CryoPort from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Needham & Company LLC lifted their target price on CryoPort from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, Jefferies Financial Group set a $13.50 price target on CryoPort in a report on Monday, June 8th.

Insider Buying and Selling at CryoPort

In related news, CFO Robert Stefanovich sold 169,427 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $16.27, for a total transaction of $2,756,577.29. Following the transaction, the chief financial officer directly owned 109,850 shares in the company, valued at approximately $1,787,259.50. This represents a 60.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Edward J. Zecchini sold 33,600 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $14.47, for a total transaction of $486,192.00. Following the completion of the sale, the insider directly owned 109,719 shares in the company, valued at $1,587,633.93. This trade represents a 23.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 227,641 shares of company stock worth $3,622,515 over the last quarter. Insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On CryoPort

Several hedge funds and other institutional investors have recently modified their holdings of the business. Basepoint Wealth LLC purchased a new position in CryoPort during the 4th quarter valued at $34,000. Tower Research Capital LLC TRC lifted its position in shares of CryoPort by 300.1% during 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 purchased a new stake in shares of CryoPort during the fourth quarter valued at $97,000. Corient Private Wealth LLC bought a new position in shares of CryoPort in the fourth quarter worth about $113,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of CryoPort by 55.2% in the third quarter. BNP Paribas Financial Markets now owns 11,880 shares of the company’s stock worth $113,000 after purchasing an additional 4,225 shares during the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

CryoPort Price Performance

Shares of CYRX opened at $15.06 on Wednesday. The stock has a market capitalization of $759.02 million, a price-to-earnings ratio of 11.16 and a beta of 1.88. CryoPort has a 1 year low of $6.69 and a 1 year high of $16.73. The business’s 50 day simple moving average is $14.28 and its 200-day simple moving average is $11.03.

CryoPort (NASDAQ:CYRX) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.03). The business had revenue of $47.80 million during the quarter, compared to the consensus estimate of $44.86 million. CryoPort had a negative return on equity of 7.92% and a net margin of 41.57%. On average, sell-side analysts expect that CryoPort will post -0.85 earnings per share for the current year.

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.