CryoPort (NASDAQ:CYRX) Price Target Raised to $12.00

CryoPort (NASDAQ:CYRX) had its price target hoisted by Needham & Company LLC from $11.00 to $12.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of CryoPort in a research note on Wednesday, October 8th. KeyCorp raised shares of CryoPort from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a research report on Wednesday, August 6th. Stephens initiated coverage on CryoPort in a report on Tuesday, July 22nd. They issued an “overweight” rating and a $13.00 target price on the stock. BTIG Research upped their price objective on shares of CryoPort from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Finally, Leerink Partnrs upgraded CryoPort from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.83.

CryoPort Price Performance

CYRX stock opened at $8.38 on Wednesday. The stock has a 50-day moving average price of $9.53 and a two-hundred day moving average price of $7.95. CryoPort has a 1 year low of $4.58 and a 1 year high of $11.44. The stock has a market cap of $419.56 million, a PE ratio of 6.30 and a beta of 1.58. The company has a current ratio of 16.24, a quick ratio of 15.47 and a debt-to-equity ratio of 0.39.

CryoPort (NASDAQ:CYRX) last announced its earnings results on Tuesday, November 4th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. The business had revenue of $44.23 million for the quarter, compared to analyst estimates of $41.22 million. CryoPort had a negative return on equity of 9.79% and a net margin of 37.21%. CryoPort has set its FY 2025 guidance at EPS. Equities analysts forecast that CryoPort will post -0.99 EPS for the current fiscal year.

Insider Transactions at CryoPort

In related news, Director Robert J. Hariri sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $9.71, for a total transaction of $242,750.00. Following the transaction, the director directly owned 51,275 shares of the company’s stock, valued at approximately $497,880.25. This represents a 32.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Stefanovich sold 9,300 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $8.67, for a total value of $80,631.00. Following the completion of the transaction, the chief financial officer owned 207,213 shares in the company, valued at approximately $1,796,536.71. The trade was a 4.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 39,300 shares of company stock valued at $366,381 over the last ninety days. 10.00% of the stock is currently owned by corporate insiders.

Institutional Trading of CryoPort

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC lifted its stake in shares of CryoPort by 1,437.0% in the first quarter. CWM LLC now owns 11,328 shares of the company’s stock valued at $69,000 after buying an additional 10,591 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of CryoPort by 548,750.0% during the first quarter. SBI Securities Co. Ltd. now owns 10,977 shares of the company’s stock worth $67,000 after acquiring an additional 10,975 shares in the last quarter. Readystate Asset Management LP raised its holdings in shares of CryoPort by 91.6% in the 1st quarter. Readystate Asset Management LP now owns 500,344 shares of the company’s stock worth $3,042,000 after acquiring an additional 239,153 shares during the last quarter. Federated Hermes Inc. bought a new position in CryoPort in the 1st quarter valued at about $155,000. Finally, Charles Schwab Investment Management Inc. lifted its position in CryoPort by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 370,302 shares of the company’s stock valued at $2,251,000 after acquiring an additional 5,207 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

CryoPort Company Profile

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.