CryoPort (NASDAQ:CYRX) Reaches New 12-Month High – Time to Buy?

CryoPort, Inc. (NASDAQ:CYRX) reached a new 52-week high during trading on Friday . The stock traded as high as $16.90 and last traded at $16.88, with a volume of 277096 shares. The stock had previously closed at $16.71.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CYRX. Roth Capital reaffirmed a “buy” rating and set a $21.00 price objective on shares of CryoPort in a research report on Friday, August 7th. Jefferies Financial Group set a $13.50 price objective on CryoPort in a research report on Monday, June 8th. Weiss Ratings lowered CryoPort from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday. Craig Hallum boosted their target price on CryoPort from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Finally, Wall Street Zen upgraded shares of CryoPort from a “sell” rating to a “hold” rating in a research note on Monday, May 11th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, CryoPort has an average rating of “Moderate Buy” and a consensus price target of $18.00.

CryoPort Trading Up 1.6%

The firm has a market capitalization of $860.04 million, a price-to-earnings ratio of -18.87 and a beta of 1.89. The business’s fifty day moving average price is $15.46 and its 200 day moving average price is $12.25.

CryoPort (NASDAQ:CYRX) last issued 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). 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 during the quarter, compared to analyst estimates of $48.18 million. As a group, sell-side analysts forecast that CryoPort, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Edward J. Zecchini sold 33,600 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $14.47, for a total value of $486,192.00. Following the completion of the sale, the insider owned 109,719 shares in the company, valued at approximately $1,587,633.93. This trade represents a 23.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ramkumar Mandalam sold 23,214 shares of CryoPort stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $15.44, for a total transaction of $358,424.16. Following the completion of the sale, the director directly owned 67,894 shares in the company, valued at approximately $1,048,283.36. The trade was a 25.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 256,441 shares of company stock valued at $4,051,923. 9.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CryoPort

A number of large investors have recently modified their holdings of the business. Kerrisdale Advisers LLC purchased a new stake in shares of CryoPort during the 2nd quarter worth approximately $355,000. Headlands Technologies LLC increased its stake in CryoPort by 14.5% in the 2nd quarter. Headlands Technologies LLC now owns 38,742 shares of the company’s stock valued at $608,000 after purchasing an additional 4,906 shares in the last quarter. Wellington Management Group LLP acquired a new position in CryoPort during the second quarter worth $8,398,000. AWM Investment Company Inc. acquired a new position in CryoPort during the second quarter worth $959,000. Finally, Bank of New York Mellon Corp purchased a new stake in CryoPort during the second quarter worth $3,363,000. 92.90% of the stock is owned by hedge funds and other 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.