CryoPort (NASDAQ:CYRX) Stock Price Expected to Rise, KeyCorp Analyst Says

CryoPort (NASDAQ:CYRX) had its price target lifted by equities researchers at KeyCorp from $17.00 to $20.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp‘s price objective would indicate a potential upside of 24.61% from the company’s previous close.

CYRX has been the topic of several other reports. BTIG Research increased their target price on CryoPort from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. Needham & Company LLC lifted their price target on CryoPort from $19.00 to $28.00 and gave the company a “buy” rating in a report on Friday. Roth Capital reaffirmed a “buy” rating and set a $21.00 price objective on shares of CryoPort in a research note on Friday, August 7th. Piper Sandler raised shares of CryoPort to a “buy” rating in a research report on Tuesday, October 13th. Finally, Weiss Ratings raised CryoPort from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.69.

CryoPort Stock Performance

CryoPort stock opened at $16.05 on Friday. CryoPort has a fifty-two week low of $7.61 and a fifty-two week high of $18.88. The company has a market capitalization of $812.93 million, a price-to-earnings ratio of -17.83 and a beta of 1.89. The stock has a fifty day moving average of $16.93 and a two-hundred day moving average of $13.42.

CryoPort (NASDAQ:CYRX) last announced its earnings results on Thursday, November 5th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $50.22 million during the quarter, compared to analyst estimates of $48.66 million. On average, analysts forecast that CryoPort will post -0.83 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jerrell Shelton sold 28,800 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 1,201,814 shares of the company’s stock, valued at $17,919,046.74. This represents a 2.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new position in CryoPort during the third quarter valued at $40,000. State of Wyoming acquired a new stake in CryoPort during the 3rd quarter worth about $81,000. Highland Investment Advisors LLC purchased a new position in CryoPort during the 2nd quarter valued at about $306,000. Counterpoint Mutual Funds LLC acquired a new position in shares of CryoPort in the 3rd quarter valued at about $324,000. Finally, Kerrisdale Advisers LLC acquired a new stake in shares of CryoPort during the second quarter worth approximately $355,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

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.