Cryoport, Inc. (NASDAQ:CYRX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Cryoport, Inc. (NASDAQ:CYRX) have earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $12.50.

Several analysts have weighed in on the stock. Roth Mkm dropped their target price on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. B. Riley upgraded shares of Cryoport from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $19.00 to $15.00 in a research report on Wednesday, July 31st. Needham & Company LLC cut their target price on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. UBS Group upped their price objective on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group lowered shares of Cryoport from a “buy” rating to a “hold” rating and dropped their price objective for the company from $20.00 to $8.00 in a report on Wednesday, August 7th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CYRX. Fred Alger Management LLC boosted its holdings in Cryoport by 49.9% in the third quarter. Fred Alger Management LLC now owns 2,698,768 shares of the company’s stock valued at $21,887,000 after acquiring an additional 898,481 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Cryoport by 2.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,035,586 shares of the company’s stock worth $14,066,000 after acquiring an additional 52,103 shares in the last quarter. Thematics Asset Management increased its stake in Cryoport by 176.2% during the third quarter. Thematics Asset Management now owns 1,705,000 shares of the company’s stock valued at $13,828,000 after purchasing an additional 1,087,800 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Cryoport by 52.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,477,693 shares of the company’s stock valued at $10,211,000 after acquiring an additional 511,064 shares during the period. Finally, AXA S.A. increased its position in Cryoport by 274.2% in the 2nd quarter. AXA S.A. now owns 873,217 shares of the company’s stock valued at $6,034,000 after acquiring an additional 639,855 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

Cryoport Stock Down 3.8 %

Shares of Cryoport stock opened at $7.38 on Friday. The stock has a market cap of $364.79 million, a price-to-earnings ratio of -2.18 and a beta of 1.63. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32. Cryoport has a 1 year low of $5.32 and a 1 year high of $20.10. The firm’s 50-day moving average is $7.66 and its two-hundred day moving average is $9.07.

Cryoport announced that its board has authorized a share repurchase program on Tuesday, August 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 49.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

About Cryoport

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.