Cryoport (NASDAQ:CYRX) Shares Gap Up to $16.06

Cryoport, Inc. (NASDAQ:CYRX) gapped up before the market opened on Tuesday . The stock had previously closed at $16.06, but opened at $16.50. Cryoport shares last traded at $16.79, with a volume of 25,931 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CYRX. Needham & Company LLC dropped their price target on Cryoport from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Jefferies Financial Group assumed coverage on Cryoport in a report on Thursday, April 4th. They issued a “buy” rating and a $21.00 target price on the stock. UBS Group raised their price target on Cryoport from $14.50 to $17.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $17.00 price target on shares of Cryoport in a research report on Wednesday, March 13th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.63.

Cryoport Stock Performance

The company has a current ratio of 11.73, a quick ratio of 11.16 and a debt-to-equity ratio of 0.82. The business has a fifty day moving average price of $16.83 and a 200-day moving average price of $14.89.

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

Insider Buying and Selling

In other Cryoport news, Director Ramkumar Mandalam sold 3,217 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $14.68, for a total transaction of $47,225.56. Following the completion of the sale, the director now directly owns 43,187 shares in the company, valued at approximately $633,985.16. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Jerrell Shelton sold 3,723 shares of Cryoport stock in a transaction on Monday, March 11th. The shares were sold at an average price of $16.35, for a total transaction of $60,871.05. Following the transaction, the chief executive officer now owns 636,951 shares in the company, valued at approximately $10,414,148.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ramkumar Mandalam sold 3,217 shares of the company’s stock in a transaction 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 completion of the sale, 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 quarter, insiders have sold 73,940 shares of company stock worth $1,147,538. 10.10% of the stock is owned by insiders.

Institutional Trading of Cryoport

Hedge funds have recently bought and sold shares of the stock. Natixis Investment Managers International raised its stake in shares of Cryoport by 61.5% in 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 boosted its holdings in Cryoport by 13.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,462 shares of the company’s stock worth $157,000 after buying an additional 1,395 shares during the period. WINTON GROUP Ltd purchased a new position in Cryoport in the 3rd quarter worth approximately $163,000. Pathstone Family Office LLC purchased a new stake in Cryoport during the 3rd quarter valued at approximately $165,000. Finally, Quantbot Technologies LP raised its position in shares of Cryoport by 109.0% during the third quarter. Quantbot Technologies LP now owns 12,838 shares of the company’s stock valued at $176,000 after buying an additional 6,694 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

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.