CryoPort, Inc. (NASDAQ:CYRX) had its price objective increased by research analysts at Needham & Company LLC from $6.00 to $8.50 in a report released on Wednesday, July 26th, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 17.73% from the stock’s current price.
Several other research firms have also commented on CYRX. ValuEngine upgraded CryoPort from a “sell” rating to a “hold” rating in a report on Thursday, May 11th. Janney Montgomery Scott initiated coverage on CryoPort in a report on Wednesday, July 12th. They set a “buy” rating and a $8.00 price target on the stock. Finally, Cowen and Company initiated coverage on CryoPort in a report on Friday, June 16th. They set an “outperform” rating and a $5.50 price target on the stock.
Shares of CryoPort (NASDAQ:CYRX) opened at 7.22 on Wednesday. CryoPort has a 1-year low of $1.80 and a 1-year high of $7.40. The company’s 50-day moving average is $5.83 and its 200-day moving average is $3.86. The stock’s market cap is $173.03 million.
CryoPort (NASDAQ:CYRX) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. CryoPort had a negative return on equity of 67.75% and a negative net margin of 102.89%. The business had revenue of $2.92 million for the quarter, compared to analyst estimates of $2.84 million. Equities analysts expect that CryoPort will post ($0.72) EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in CryoPort by 96.9% in the second quarter. Vanguard Group Inc. now owns 519,100 shares of the company’s stock valued at $2,554,000 after buying an additional 255,519 shares in the last quarter. Taylor Wealth Management Partners bought a new stake in shares of CryoPort during the second quarter valued at about $1,851,000. D.A. Davidson & CO. raised its stake in shares of CryoPort by 16.6% in the second quarter. D.A. Davidson & CO. now owns 137,000 shares of the company’s stock valued at $674,000 after buying an additional 19,500 shares during the period. EAM Investors LLC bought a new stake in shares of CryoPort during the second quarter valued at about $552,000. Finally, BerganKDV Wealth Management LLC raised its stake in shares of CryoPort by 157.5% in the second quarter. BerganKDV Wealth Management LLC now owns 25,750 shares of the company’s stock valued at $127,000 after buying an additional 15,750 shares during the period. Institutional investors and hedge funds own 10.57% of the company’s stock.
CryoPort Company Profile
Cryoport, Inc (Cryoport) is a provider of cryogenic logistics solutions to the life sciences industry through its purpose-built packaging, information technology and specialized cold chain logistics expertise. The Company provides logistics solutions for biologic materials, such as immunotherapies, stem cells, chimeric antigen receptors (CAR)-T cells, and reproductive cells for clients.
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