Cryoport (NASDAQ:CYRX) Upgraded to Hold at Zacks Investment Research

Cryoport (NASDAQ:CYRX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “CryoPort, Inc. operates as a provider of shipping solutions comprising cold chain frozen shipping system for transporting biological, environmental and other temperature sensitive materials at temperatures below minus 150° Celsius. Its products include CryoPort Express Shippers, cryogenic dry vapor shippers capable of maintaining cryogenic temperatures; biological material holders for the shipment of infectious or dangerous goods; CryoPort Express System to programmatically manage order entry and various aspects of shipping operations; and CryoPort Express Analytics, to monitor shipment performance metrics and to evaluate temperature-monitoring data collected by the data logger during shipment. The Company’s products find their application in the transportation of live cell pharmaceutical products, such as cancer vaccines, diagnostic materials, semen and embryos, and infectious substances. CryoPort, Inc. is based in Lake Forest, California. “

CYRX has been the topic of a number of other research reports. Roth Capital increased their price target on Cryoport from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, August 6th. BTIG Research started coverage on Cryoport in a research note on Friday, July 16th. They issued a “buy” rating and a $80.00 price target on the stock. Finally, Needham & Company LLC increased their price target on Cryoport from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, August 6th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $77.50.

Shares of Cryoport stock traded up $1.37 on Thursday, reaching $65.78. 143,537 shares of the company were exchanged, compared to its average volume of 431,528. Cryoport has a one year low of $39.10 and a one year high of $84.97. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -34.62 and a beta of 0.89. The company has a current ratio of 10.79, a quick ratio of 10.49 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average of $60.65 and a 200 day moving average of $57.60.

Cryoport (NASDAQ:CYRX) last announced its quarterly earnings data on Thursday, August 5th. The consumer goods maker reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Cryoport had a positive return on equity of 2.35% and a negative net margin of 18.85%. Analysts predict that Cryoport will post -0.57 earnings per share for the current year.

In other news, Director Richard J. Berman sold 25,000 shares of the stock in a transaction on Wednesday, September 15th. The stock was sold at an average price of $64.00, for a total transaction of $1,600,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel M. Hancock sold 9,326 shares of the firm’s stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $67.09, for a total value of $625,681.34. Following the completion of the sale, the director now directly owns 13,953 shares in the company, valued at $936,106.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 437,750 shares of company stock worth $26,224,330. 10.90% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. FORA Capital LLC acquired a new stake in shares of Cryoport during the first quarter valued at about $35,000. Sowell Financial Services LLC boosted its stake in shares of Cryoport by 1,907.3% during the first quarter. Sowell Financial Services LLC now owns 823 shares of the consumer goods maker’s stock valued at $51,000 after purchasing an additional 782 shares in the last quarter. Eaton Vance Management acquired a new stake in shares of Cryoport during the first quarter valued at about $56,000. FinTrust Capital Advisors LLC boosted its stake in shares of Cryoport by 199.6% during the second quarter. FinTrust Capital Advisors LLC now owns 1,504 shares of the consumer goods maker’s stock valued at $95,000 after purchasing an additional 1,002 shares in the last quarter. Finally, Psagot Investment House Ltd. boosted its stake in shares of Cryoport by 22.4% during the first quarter. Psagot Investment House Ltd. now owns 1,952 shares of the consumer goods maker’s stock valued at $102,000 after purchasing an additional 357 shares in the last quarter. 87.29% of the stock is currently owned by institutional investors and hedge funds.

Cryoport Company Profile

CryoPort, Inc engages in the provision of logistics solutions to the life science industry. It also provides logistics solutions for biologic materials such as immunotherapies, stem cells, CAR-T cells, and reproductive cells for clients worldwide, including points-of-care, clinical research organizations central laboratories, biopharmaceuticals, contract manufacturing, health centers, and university researchers.

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