CryoPort, Inc. (NASDAQ:CYRX) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of CryoPort, Inc. (NASDAQ:CYRX) have been given an average rating of “Moderate Buy” by the nine analysts that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $21.69.

Several research firms have issued reports on CYRX. Piper Sandler raised CryoPort to a “buy” rating in a report on Tuesday, October 13th. Needham & Company LLC raised their price objective on CryoPort from $19.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday. Roth Capital reaffirmed a “buy” rating and issued a $21.00 price objective on shares of CryoPort in a research note on Friday, August 7th. KeyCorp lifted their price objective on CryoPort from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Guggenheim boosted their price objective on CryoPort from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, October 1st.

Institutional Investors Weigh In On CryoPort

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in shares of CryoPort in the second quarter worth approximately $8,398,000. Empire Financial Management Company LLC lifted its stake in shares of CryoPort by 24.4% during the 1st quarter. Empire Financial Management Company LLC now owns 502,575 shares of the company’s stock valued at $4,161,000 after buying an additional 98,714 shares in the last quarter. Royce & Associates LP purchased a new position in shares of CryoPort during the 3rd quarter valued at $7,073,000. Russell Investments Group Ltd. boosted its holdings in CryoPort by 376.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 399,047 shares of the company’s stock worth $6,943,000 after buying an additional 315,343 shares during the period. Finally, Squarepoint Ops LLC increased its stake in CryoPort by 685.1% in the 2nd 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 in the last quarter. Institutional investors own 92.90% of the company’s stock.

CryoPort Trading Up 7.2%

CYRX opened at $20.47 on Tuesday. The company’s 50 day moving average is $17.07 and its 200 day moving average is $13.51. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -21.10 and a beta of 1.89. CryoPort has a 12-month low of $7.61 and a 12-month high of $20.57.

CryoPort (NASDAQ:CYRX) last announced its earnings results on Thursday, November 5th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). CryoPort had a negative net margin of 20.05% and a negative return on equity of 7.20%. The business had revenue of $50.22 million for the quarter, compared to analysts’ expectations of $48.66 million. As a group, analysts predict that CryoPort will post -0.83 EPS for the current fiscal year.

About CryoPort

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

Its offerings include cryogenic and refrigerated shipping containers, biological material storage, transportation logistics, shipment monitoring and related supply chain management services.