CryoPort (NASDAQ:CYRX) Given New $10.00 Price Target at BTIG Research

CryoPort (NASDAQ:CYRX) had its target price reduced by equities research analysts at BTIG Research from $13.00 to $10.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target would indicate a potential upside of 37.17% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley cut their target price on CryoPort from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, May 5th. Guggenheim reissued a “buy” rating and issued a $10.00 target price on shares of CryoPort in a research report on Wednesday, April 16th. Roth Mkm reaffirmed a “buy” rating and issued a $15.00 target price on shares of CryoPort in a report on Tuesday, April 1st. UBS Group lifted their price target on shares of CryoPort from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of CryoPort in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, CryoPort has an average rating of “Moderate Buy” and a consensus target price of $10.88.

CryoPort Stock Performance

Shares of CryoPort stock traded down $0.37 during mid-day trading on Monday, hitting $7.29. 472,595 shares of the stock were exchanged, compared to its average volume of 512,183. The company has a market capitalization of $365.52 million, a P/E ratio of -3.12 and a beta of 1.89. The company has a 50-day simple moving average of $6.54 and a 200 day simple moving average of $6.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 5.24 and a current ratio of 5.56. CryoPort has a 12 month low of $4.58 and a 12 month high of $9.78.

CryoPort (NASDAQ:CYRX) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. CryoPort had a negative net margin of 50.15% and a negative return on equity of 11.03%. The firm had revenue of $41.04 million for the quarter, compared to analyst estimates of $56.19 million. Sell-side analysts anticipate that CryoPort will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert J. Hariri sold 12,500 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $6.10, for a total value of $76,250.00. Following the transaction, the director owned 8,061 shares in the company, valued at approximately $49,172.10. This represents a 60.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jerrell Shelton sold 151,304 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $6.81, for a total value of $1,030,380.24. Following the transaction, the chief executive officer directly owned 912,419 shares in the company, valued at approximately $6,213,573.39. This represents a 14.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 449,719 shares of company stock worth $3,042,327. 10.10% of the stock is owned by corporate insiders.

Institutional Trading of CryoPort

Institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. raised its holdings in shares of CryoPort by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 387,131 shares of the company’s stock valued at $3,012,000 after buying an additional 1,512 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of CryoPort by 148.7% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,546 shares of the company’s stock valued at $28,000 after purchasing an additional 2,120 shares during the period. Sierra Summit Advisors LLC increased its stake in CryoPort by 5.0% during the 1st quarter. Sierra Summit Advisors LLC now owns 45,060 shares of the company’s stock worth $274,000 after buying an additional 2,150 shares during the period. Nebula Research & Development LLC increased its stake in CryoPort by 21.6% during the 4th quarter. Nebula Research & Development LLC now owns 12,442 shares of the company’s stock worth $97,000 after buying an additional 2,207 shares during the period. Finally, MetLife Investment Management LLC increased its stake in CryoPort by 13.8% during the 1st quarter. MetLife Investment Management LLC now owns 24,641 shares of the company’s stock worth $150,000 after buying an additional 2,980 shares during the period. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

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.