Shares of Cryoport, Inc. (NASDAQ:CYRX) have received an average recommendation of “Buy” from the nine analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $57.00.
A number of brokerages have weighed in on CYRX. Zacks Investment Research downgraded Cryoport from a “hold” rating to a “sell” rating in a report on Thursday, January 14th. Roth Capital increased their price objective on shares of Cryoport from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, January 14th. KeyCorp raised their price target on shares of Cryoport from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, January 19th. B. Riley raised their price target on shares of Cryoport from $69.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, February 10th. Finally, Needham & Company LLC raised their price target on shares of Cryoport from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 6th.
Several hedge funds have recently modified their holdings of CYRX. Handelsbanken Fonder AB increased its stake in shares of Cryoport by 100.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 690,000 shares of the consumer goods maker’s stock worth $32,706,000 after purchasing an additional 345,000 shares during the last quarter. Bamco Inc. NY grew its stake in Cryoport by 135.1% in the 4th quarter. Bamco Inc. NY now owns 524,691 shares of the consumer goods maker’s stock valued at $23,023,000 after buying an additional 301,500 shares in the last quarter. Victory Capital Management Inc. grew its stake in Cryoport by 34.2% in the 4th quarter. Victory Capital Management Inc. now owns 858,880 shares of the consumer goods maker’s stock valued at $37,688,000 after buying an additional 218,829 shares in the last quarter. Redwood Investments LLC purchased a new position in Cryoport in the 4th quarter valued at approximately $8,939,000. Finally, Ratan Capital Management LP purchased a new position in Cryoport in the 3rd quarter valued at approximately $9,480,000. Institutional investors own 88.29% of the company’s stock.
Cryoport, Inc provides temperature-controlled logistics and biostorage services to the life sciences industry in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Global Logistics Solutions and Global Bioservices. The Global Logistics Solutions segment offers Cryoportal, a cloud-based logistics management platform that supports the management of shipments, which includes order entry, document preparation, customs documentation, courier management, real-time shipment tracking and monitoring, issue resolution, and regulatory compliance requirements; and CryoPort Express Shippers, a dry vapor cryogenic shipper that use liquid nitrogen contained inside a vacuum insulated vessel, which serves as a refrigerant to provide stable storage temperatures.
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