CryoPort (NASDAQ:CYRX) Shares Cross Above 200 Day Moving Average – Here’s Why

CryoPort, Inc. (NASDAQ:CYRX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.72 and traded as high as $16.16. CryoPort shares last traded at $15.78, with a volume of 420,138 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group set a $13.50 price objective on shares of CryoPort in a research report on Monday, June 8th. Needham & Company LLC upped their price objective on CryoPort from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, August 7th. Wall Street Zen raised shares of CryoPort from a “sell” rating to a “hold” rating in a report on Monday, May 11th. Guggenheim raised their target price on shares of CryoPort from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Craig Hallum increased their price target on CryoPort from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CryoPort currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

CryoPort Trading Up 0.2%

The firm has a market capitalization of $805.28 million, a P/E ratio of -17.71 and a beta of 1.89. The firm has a 50-day moving average of $15.72 and a two-hundred day moving average of $12.77.

CryoPort (NASDAQ:CYRX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). CryoPort had a negative return on equity of 7.20% and a negative net margin of 20.05%.The business had revenue of $48.97 million for the quarter, compared to analyst estimates of $48.18 million. On average, sell-side analysts anticipate that CryoPort, Inc. will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ramkumar Mandalam sold 23,214 shares of CryoPort stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $15.44, for a total value of $358,424.16. Following the transaction, the director directly owned 67,894 shares of the company’s stock, valued at $1,048,283.36. The trade was a 25.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jerrell Shelton sold 28,800 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $14.91, for a total transaction of $429,408.00. Following the sale, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 87,014 shares of company stock valued at $1,295,346 over the last ninety days. 9.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On CryoPort

Institutional investors and hedge funds have recently modified their holdings of the business. Basepoint Wealth LLC bought a new stake in CryoPort in the fourth quarter valued at $34,000. Tower Research Capital LLC TRC increased its holdings in shares of CryoPort by 300.1% during the second quarter. Tower Research Capital LLC TRC now owns 5,833 shares of the company’s stock valued at $44,000 after acquiring an additional 4,375 shares in the last quarter. Quadrature Capital Ltd bought a new stake in CryoPort during the 4th quarter valued at $97,000. California State Teachers Retirement System boosted its holdings in CryoPort by 305.0% during the 2nd quarter. California State Teachers Retirement System now owns 10,707 shares of the company’s stock worth $168,000 after acquiring an additional 8,063 shares during the last quarter. Finally, Corient Private Wealth LLC bought a new position in CryoPort in the 4th quarter valued at $113,000. 92.90% of the stock is currently owned by institutional investors.

CryoPort Company Profile

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.