CryoPort (NASDAQ:CYRX) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

CryoPort, Inc. (NASDAQ:CYRX)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.07 and traded as high as $15.28. CryoPort shares last traded at $15.26, with a volume of 525,738 shares traded.

Analyst Ratings Changes

Several equities research analysts have weighed in on CYRX shares. Craig Hallum raised their price objective on shares of CryoPort from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Jefferies Financial Group set a $13.50 price target on shares of CryoPort in a research note on Monday, June 8th. BTIG Research raised their price target on shares of CryoPort from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Needham & Company LLC boosted their price objective on shares of CryoPort from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, KeyCorp boosted their price objective on shares of CryoPort from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.11.

CryoPort Price Performance

The stock has a 50-day moving average of $14.61 and a 200 day moving average of $11.15. The stock has a market capitalization of $814.97 million, a price-to-earnings ratio of 11.98 and a beta of 1.88.

CryoPort (NASDAQ:CYRX) last released its earnings results on Monday, May 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.03). The business had revenue of $47.80 million for the quarter, compared to analyst estimates of $44.86 million. CryoPort had a net margin of 41.57% and a negative return on equity of 7.92%. Sell-side analysts anticipate that CryoPort, Inc. will post -0.85 earnings per share for the current fiscal year.

Insider Activity at CryoPort

In other CryoPort news, CFO Robert Stefanovich sold 169,427 shares of CryoPort stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $16.27, for a total transaction of $2,756,577.29. Following the completion of the sale, the chief financial officer owned 109,850 shares of the company’s stock, valued at approximately $1,787,259.50. The trade was a 60.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ramkumar Mandalam sold 23,214 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $15.44, for a total transaction of $358,424.16. Following the sale, the director owned 67,894 shares of the company’s stock, valued at $1,048,283.36. The trade was a 25.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 227,641 shares of company stock worth $3,622,515 over the last ninety days. Company insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On CryoPort

A number of institutional investors have recently made changes to their positions in the stock. Basepoint Wealth LLC bought a new stake in CryoPort in the fourth quarter valued at about $34,000. Tower Research Capital LLC TRC grew its position in shares of CryoPort by 300.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,833 shares of the company’s stock worth $44,000 after buying an additional 4,375 shares during the period. Creative Planning acquired a new stake in shares of CryoPort in the 2nd quarter valued at approximately $96,000. Quadrature Capital Ltd acquired a new stake in shares of CryoPort in the 4th quarter valued at approximately $97,000. Finally, State of Wyoming boosted its stake in CryoPort by 30.2% during the 2nd quarter. State of Wyoming now owns 14,218 shares of the company’s stock worth $106,000 after acquiring an additional 3,301 shares during the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

About CryoPort

CryoPort, Inc (NASDAQ: CYRX) is a global provider of temperature-controlled logistics solutions for the life sciences industry. The company specializes in cryogenic shipping for critical biological materials, supporting the development, clinical testing and commercialization of cell and gene therapies, biologics, vaccines and reproductive medicine. By offering end-to-end supply chain management, CryoPort helps ensure the integrity and viability of temperature-sensitive products from point of origin to destination.

CryoPort’s product portfolio includes proprietary cryogenic dry shippers, advanced active and passive thermal packaging, and real-time data monitoring platforms.