Cryoport’s (CYRX) “Buy” Rating Reaffirmed at Needham & Company LLC

Cryoport (NASDAQ:CYRX)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $18.00 target price on the stock. Needham & Company LLC’s price target points to a potential upside of 9.76% from the company’s current price.

Several other brokerages have also weighed in on CYRX. Stephens reaffirmed an “equal weight” rating and set a $17.00 price objective on shares of Cryoport in a research report on Wednesday, March 13th. Jefferies Financial Group started coverage on Cryoport in a report on Thursday, April 4th. They issued a “buy” rating and a $21.00 target price on the stock. B. Riley lowered Cryoport from a “buy” rating to a “neutral” rating and cut their target price for the company from $22.00 to $19.00 in a research note on Friday, May 3rd. Finally, UBS Group increased their price objective on shares of Cryoport from $14.50 to $17.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cryoport has an average rating of “Hold” and a consensus price target of $18.25.

Cryoport Stock Performance

CYRX stock opened at $16.40 on Wednesday. The stock has a market cap of $806.22 million, a P/E ratio of -7.45 and a beta of 1.60. The company has a debt-to-equity ratio of 0.82, a quick ratio of 11.16 and a current ratio of 11.73. The firm has a 50 day simple moving average of $16.93 and a 200 day simple moving average of $15.22. Cryoport has a 52 week low of $9.00 and a 52 week high of $24.17.

Cryoport (NASDAQ:CYRX) last issued its earnings results on Tuesday, May 7th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). Cryoport had a negative net margin of 42.69% and a negative return on equity of 11.86%. The firm had revenue of $54.59 million during the quarter, compared to analysts’ expectations of $58.78 million. During the same quarter last year, the firm earned ($0.16) EPS. The business’s revenue for the quarter was down 13.1% compared to the same quarter last year. Research analysts anticipate that Cryoport will post -1.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ramkumar Mandalam sold 3,217 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $14.68, for a total value of $47,225.56. Following the completion of the sale, the director now owns 43,187 shares of the company’s stock, valued at $633,985.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Jerrell Shelton sold 57,039 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $15.30, for a total transaction of $872,696.70. Following the sale, the chief executive officer now owns 634,352 shares of the company’s stock, valued at $9,705,585.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ramkumar Mandalam sold 3,217 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $14.68, for a total value of $47,225.56. Following the completion of the transaction, the director now owns 43,187 shares of the company’s stock, valued at $633,985.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,940 shares of company stock valued at $1,147,538. Insiders own 10.10% of the company’s stock.

Institutional Trading of Cryoport

Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cryoport by 13.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,462 shares of the company’s stock worth $157,000 after acquiring an additional 1,395 shares in the last quarter. Skylands Capital LLC boosted its stake in Cryoport by 23.7% in the 3rd quarter. Skylands Capital LLC now owns 84,950 shares of the company’s stock worth $1,165,000 after purchasing an additional 16,300 shares during the period. Assenagon Asset Management S.A. bought a new position in Cryoport during the 3rd quarter worth about $3,250,000. Quantbot Technologies LP raised its stake in shares of Cryoport by 109.0% in the 3rd quarter. Quantbot Technologies LP now owns 12,838 shares of the company’s stock valued at $176,000 after purchasing an additional 6,694 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Cryoport by 28.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,356,500 shares of the company’s stock valued at $18,598,000 after purchasing an additional 298,995 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

About Cryoport

Cryoport, Inc provides temperature-controlled supply chain solutions in biopharma/pharma, animal health, and human reproductive medicine markets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoport Express Shippers; Cryoport ELITE -80°C Gene Therapy Shipper; Cryoport ELITE Cryosphere Shipper; Cryoport consulting services, including physical, thermal, and shipping qualifications of shipping systems and/or packaging to developing custom packaging solutions; and Cryoport bioservices, such as controlled temperature storage, fulfilment, kit production, secondary packaging, labelling of therapeutic products, and GMP raw materials storage services.