Cryoport, Inc. (NASDAQ:CYRX) Receives $18.63 Average Price Target from Analysts

Shares of Cryoport, Inc. (NASDAQ:CYRX) have earned an average rating of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $18.63.

CYRX has been the topic of a number of analyst reports. Needham & Company LLC dropped their target price on Cryoport from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Stephens reaffirmed an “equal weight” rating and set a $17.00 target price on shares of Cryoport in a research report on Wednesday, March 13th. UBS Group lifted their target price on Cryoport from $14.50 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Finally, Jefferies Financial Group initiated coverage on Cryoport in a research report on Thursday, April 4th. They set a “buy” rating and a $21.00 target price on the stock.

Cryoport Trading Up 2.6 %

Shares of CYRX opened at $16.81 on Friday. The stock’s 50-day moving average is $16.87 and its two-hundred day moving average is $14.99. The stock has a market cap of $826.38 million, a PE ratio of -7.64 and a beta of 1.60. Cryoport has a 12 month low of $9.00 and a 12 month high of $24.17. The company has a debt-to-equity ratio of 0.82, a current ratio of 11.73 and a quick ratio of 11.16.

Cryoport (NASDAQ:CYRX) last announced its earnings results on Tuesday, March 12th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.19). Cryoport had a negative return on equity of 11.86% and a negative net margin of 42.69%. The business had revenue of $57.26 million for the quarter, compared to analysts’ expectations of $58.27 million. Equities analysts forecast that Cryoport will post -1.31 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jerrell Shelton sold 2,631 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $17.54, for a total transaction of $46,147.74. Following the completion of the transaction, the chief executive officer now directly owns 692,182 shares in the company, valued at $12,140,872.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Jerrell Shelton sold 2,631 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $17.54, for a total transaction of $46,147.74. Following the completion of the transaction, the chief executive officer now directly owns 692,182 shares in the company, valued at $12,140,872.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ramkumar Mandalam sold 3,217 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $14.68, for a total value of $47,225.56. Following the transaction, the director now owns 43,187 shares of the company’s stock, valued at $633,985.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,940 shares of company stock valued at $1,147,538. 10.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cryoport

Hedge funds and other institutional investors have recently made changes to their positions in the business. Natixis Investment Managers International boosted its position in shares of Cryoport by 61.5% during the fourth quarter. Natixis Investment Managers International now owns 4,536 shares of the company’s stock worth $70,000 after buying an additional 1,727 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cryoport by 13.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,462 shares of the company’s stock worth $157,000 after purchasing an additional 1,395 shares during the period. WINTON GROUP Ltd acquired a new stake in Cryoport in the third quarter worth approximately $163,000. Pathstone Family Office LLC acquired a new stake in Cryoport in the third quarter worth approximately $165,000. Finally, Quantbot Technologies LP lifted its position in Cryoport by 109.0% in the third quarter. Quantbot Technologies LP now owns 12,838 shares of the company’s stock worth $176,000 after purchasing an additional 6,694 shares during the period. 92.90% of the stock is currently owned by institutional investors and hedge funds.

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.