CryoPort’s (CYRX) Buy Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of CryoPort (NASDAQ:CYRX) in a research note published on Friday,Benzinga reports. They currently have a $25.00 price target on the stock.

A number of other brokerages have also recently weighed in on CYRX. Craig Hallum raised their price objective on CryoPort from $15.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Roth Capital reaffirmed a “buy” rating and issued a $21.00 target price on shares of CryoPort in a research note on Friday, August 7th. Weiss Ratings cut shares of CryoPort from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Needham & Company LLC increased their price target on shares of CryoPort from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Jefferies Financial Group set a $13.50 price target on shares of CryoPort in a research note on Monday, June 8th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

CryoPort Price Performance

CYRX opened at $17.02 on Friday. The stock has a market cap of $862.06 million, a PE ratio of -18.91 and a beta of 1.89. CryoPort has a 52 week low of $7.61 and a 52 week high of $17.20. The business’s fifty day simple moving average is $15.78 and its 200 day simple moving average is $13.36.

CryoPort (NASDAQ:CYRX) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $48.97 million for the quarter, compared to analysts’ expectations of $48.18 million. As a group, equities analysts anticipate that CryoPort will post -0.83 earnings per share for the current year.

Insider Activity at CryoPort

In other news, CEO Jerrell Shelton sold 28,800 shares of the business’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 completion of the sale, the chief executive officer owned 1,201,814 shares of the company’s stock, valued at approximately $17,919,046.74. The trade was a 2.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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.

Hedge Funds Weigh In On CryoPort

Several institutional investors and hedge funds have recently bought and sold shares of CYRX. Assenagon Asset Management S.A. lifted its position in CryoPort by 0.6% in the first quarter. Assenagon Asset Management S.A. now owns 1,495,683 shares of the company’s stock valued at $12,384,000 after purchasing an additional 8,280 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of CryoPort in the second quarter worth approximately $8,398,000. Meros Investment Management LP grew its holdings in shares of CryoPort by 13.9% in the fourth quarter. Meros Investment Management LP now owns 626,427 shares of the company’s stock worth $6,014,000 after purchasing an additional 76,687 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of CryoPort by 685.1% in the second quarter. Squarepoint Ops LLC now owns 368,424 shares of the company’s stock worth $5,784,000 after buying an additional 321,497 shares during the period. Finally, Empire Financial Management Company LLC increased its stake in shares of CryoPort by 24.4% in the first quarter. Empire Financial Management Company LLC now owns 502,575 shares of the company’s stock worth $4,161,000 after buying an additional 98,714 shares during the period. 92.90% of the stock is currently owned by institutional investors.

CryoPort Company Profile

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.