CryoPort (NASDAQ:CYRX) Given New $12.00 Price Target at Needham & Company LLC

CryoPort (NASDAQ:CYRX) had its target price boosted by Needham & Company LLC from $11.00 to $12.00 in a research report released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Leerink Partners upgraded shares of CryoPort from a “market perform” rating to an “outperform” rating and set a $16.00 price target on the stock in a research report on Wednesday, August 6th. KeyCorp upgraded shares of CryoPort from a “sector weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a research report on Wednesday, August 6th. BTIG Research boosted their price target on shares of CryoPort from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Leerink Partnrs upgraded shares of CryoPort from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 6th. Finally, Stephens initiated coverage on shares of CryoPort in a research report on Tuesday, July 22nd. They issued an “overweight” rating and a $13.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.83.

CryoPort Trading Down 7.5%

CryoPort stock opened at $8.53 on Wednesday. The stock has a market cap of $427.07 million, a P/E ratio of 6.41 and a beta of 1.58. The company has a debt-to-equity ratio of 0.39, a current ratio of 16.24 and a quick ratio of 15.47. CryoPort has a 1 year low of $4.58 and a 1 year high of $11.44. The firm’s 50 day moving average price is $9.55 and its 200-day moving average price is $7.93.

CryoPort (NASDAQ:CYRX) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.05. The firm had revenue of $44.23 million for the quarter, compared to analysts’ expectations of $41.22 million. CryoPort had a net margin of 37.21% and a negative return on equity of 9.79%. On average, equities analysts predict that CryoPort will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Robert Stefanovich sold 9,300 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $8.67, for a total value of $80,631.00. Following the completion of the sale, the chief financial officer directly owned 207,213 shares of the company’s stock, valued at $1,796,536.71. This represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert J. Hariri sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $9.71, for a total transaction of $242,750.00. Following the completion of the sale, the director directly owned 51,275 shares of the company’s stock, valued at approximately $497,880.25. This trade represents a 32.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 39,300 shares of company stock valued at $366,381 over the last three months. Insiders own 10.00% of the company’s stock.

Institutional Trading of CryoPort

A number of hedge funds have recently added to or reduced their stakes in CYRX. Kennedy Capital Management LLC purchased a new stake in CryoPort in the second quarter worth about $4,084,000. Assenagon Asset Management S.A. lifted its stake in CryoPort by 37.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,498,774 shares of the company’s stock worth $14,208,000 after acquiring an additional 408,263 shares during the period. Acadian Asset Management LLC lifted its stake in CryoPort by 106.4% in the first quarter. Acadian Asset Management LLC now owns 479,695 shares of the company’s stock worth $2,911,000 after acquiring an additional 247,288 shares during the period. Readystate Asset Management LP lifted its stake in CryoPort by 91.6% in the first quarter. Readystate Asset Management LP now owns 500,344 shares of the company’s stock worth $3,042,000 after acquiring an additional 239,153 shares during the period. Finally, Norges Bank purchased a new stake in CryoPort in the second quarter worth about $1,624,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

CryoPort Company Profile

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.