CryoPort (NASDAQ:CYRX) Sets New 12-Month High – Here’s What Happened

CryoPort, Inc. (NASDAQ:CYRX)’s share price reached a new 52-week high on Monday . The stock traded as high as $17.50 and last traded at $17.12, with a volume of 22232 shares traded. The stock had previously closed at $17.02.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CYRX shares. Jefferies Financial Group set a $13.50 price objective on CryoPort in a research note on Monday, June 8th. Weiss Ratings lowered CryoPort from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, August 17th. BTIG Research restated a “buy” rating and set a $25.00 target price on shares of CryoPort in a report on Friday. Craig Hallum raised 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. Finally, Needham & Company LLC raised their price target on CryoPort from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

CryoPort Stock Performance

The firm has a market cap of $868.90 million, a PE ratio of -19.09 and a beta of 1.89. The company’s 50-day simple moving average is $15.78 and its two-hundred day simple moving average is $13.36.

CryoPort (NASDAQ:CYRX) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). CryoPort had a negative return on equity of 7.20% and a negative net margin of 20.05%.The firm had revenue of $48.97 million during the quarter, compared to the consensus estimate of $48.18 million. On average, analysts expect that CryoPort, Inc. will post -0.83 EPS for the current year.

Insider Buying and Selling at CryoPort

In related news, CEO Jerrell Shelton sold 28,800 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $14.91, for a total value of $429,408.00. Following the sale, the chief executive officer directly owned 1,201,814 shares of the company’s stock, valued at $17,919,046.74. This trade represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CYRX. Basepoint Wealth LLC purchased a new stake in CryoPort in the 4th quarter worth approximately $34,000. AXQ Capital LP purchased a new position in shares of CryoPort during the fourth quarter valued at approximately $125,000. Highland Investment Advisors LLC purchased a new position in shares of CryoPort during the second quarter valued at approximately $306,000. Kerrisdale Advisers LLC bought a new position in shares of CryoPort during the second quarter valued at approximately $355,000. Finally, Engineers Gate Manager LP bought a new position in shares of CryoPort during the second quarter valued at approximately $518,000. Institutional investors own 92.90% of the company’s stock.

About CryoPort

Cryoport, Inc (NASDAQ: CYRX) provides temperature-controlled logistics and supply-chain solutions for the life sciences industry. The company supports the transportation, storage and management of sensitive biological materials, including cell and gene therapies, biologics, vaccines, clinical-trial materials and reproductive tissues.

Its offerings include specialized cryogenic and refrigerated shipping systems, monitoring and tracking technologies, logistics coordination, packaging and storage services, and related bioservices.