CryoPort (NASDAQ:CYRX) Receives Buy Rating from BTIG Research

CryoPort (NASDAQ:CYRX)‘s stock had its “buy” rating reissued by analysts at BTIG Research in a note issued to investors on Friday, Benzinga reports. They presently have a $25.00 price target on the stock. BTIG Research’s target price would suggest a potential upside of 43.68% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Guggenheim boosted their price objective on shares of CryoPort from $12.00 to $16.00 and gave the company a “buy” rating in a report on Friday, August 7th. Craig Hallum boosted their price objective on shares of CryoPort from $15.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Jefferies Financial Group set a $13.50 price objective on shares of CryoPort in a report on Monday, June 8th. Weiss Ratings lowered shares of CryoPort from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, August 17th. Finally, Needham & Company LLC boosted their price objective on shares of CryoPort from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.00.

CryoPort Stock Down 0.5%

Shares of CYRX traded down $0.09 during trading hours on Friday, reaching $17.40. 694,829 shares of the company traded hands, compared to its average volume of 584,229. The stock has a market capitalization of $881.31 million, a P/E ratio of -19.33 and a beta of 1.89. CryoPort has a 12-month low of $7.61 and a 12-month high of $17.98. The business has a fifty day moving average price of $15.87 and a 200-day moving average price of $13.55.

CryoPort (NASDAQ:CYRX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The company had revenue of $48.97 million for the quarter, compared to analysts’ expectations of $48.18 million. CryoPort had a negative net margin of 20.05% and a negative return on equity of 7.20%. As a group, research analysts predict that CryoPort will post -0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jerrell Shelton sold 28,800 shares of CryoPort stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $14.91, for a total transaction of $429,408.00. Following the completion of the transaction, the chief executive officer directly owned 1,201,814 shares in the company, valued at approximately $17,919,046.74. This trade represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CYRX. Wellington Management Group LLP purchased a new position in CryoPort during the second quarter valued at approximately $8,398,000. Squarepoint Ops LLC raised its position in CryoPort by 685.1% during the second quarter. Squarepoint Ops LLC now owns 368,424 shares of the company’s stock valued at $5,784,000 after acquiring an additional 321,497 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in CryoPort during the second quarter valued at approximately $3,363,000. Granahan Investment Management LLC raised its position in CryoPort by 475.0% during the first quarter. Granahan Investment Management LLC now owns 231,138 shares of the company’s stock valued at $1,914,000 after acquiring an additional 190,938 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in CryoPort by 62.9% during the first quarter. Renaissance Technologies LLC now owns 368,110 shares of the company’s stock valued at $3,048,000 after acquiring an additional 142,070 shares in the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

CryoPort Company Profile

Cryoport, Inc (NASDAQ: CYRX) provides temperature-controlled logistics and supply-chain solutions for the life sciences industry. The company supports the transportation, storage and management of sensitive biological materials, including cell and gene therapies, biologics, vaccines, clinical-trial materials and reproductive tissues.

Its offerings include specialized cryogenic and refrigerated shipping systems, monitoring and tracking technologies, logistics coordination, packaging and storage services, and related bioservices.