CryoPort, Inc. (NASDAQ:CYRX) Stock Has Average Target Price of $18.38 According to Analysts

Shares of CryoPort, Inc. (NASDAQ:CYRX) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $18.38.

Several analysts have recently issued reports on CYRX shares. BTIG Research reaffirmed a “buy” rating and set a $25.00 price objective on shares of CryoPort in a report on Friday, September 18th. Roth Capital reiterated a “buy” rating and set a $21.00 target price on shares of CryoPort in a research report on Friday, August 7th. Guggenheim raised their target price on shares of CryoPort from $16.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, October 1st. Weiss Ratings raised shares of CryoPort from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday. Finally, Needham & Company LLC boosted their price target on shares of CryoPort from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, August 7th.

CryoPort Stock Performance

NASDAQ:CYRX opened at $17.35 on Friday. The company has a market capitalization of $878.78 million, a P/E ratio of -19.28 and a beta of 1.96. CryoPort has a 12 month low of $7.61 and a 12 month high of $18.36. The business’s 50-day moving average is $16.29 and its 200 day moving average is $14.34.

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

Insider Transactions at CryoPort

In other CryoPort news, CEO Jerrell Shelton sold 28,800 shares of the stock in a transaction on Tuesday, August 11th. The shares were 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 owned 1,201,814 shares in the company, valued at $17,919,046.74. This trade represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CryoPort

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State of Wyoming increased its holdings in shares of CryoPort by 9.4% in the 1st quarter. State of Wyoming now owns 42,520 shares of the company’s stock worth $352,000 after buying an additional 3,638 shares during the last quarter. Headlands Technologies LLC raised its position in shares of CryoPort by 14.5% during the 2nd quarter. Headlands Technologies LLC now owns 38,742 shares of the company’s stock valued at $608,000 after buying an additional 4,906 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of CryoPort by 0.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,495,683 shares of the company’s stock valued at $12,384,000 after acquiring an additional 8,280 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of CryoPort by 30.7% in the 1st quarter. Quantinno Capital Management LP now owns 43,966 shares of the company’s stock valued at $364,000 after acquiring an additional 10,337 shares during the last quarter. Finally, Bullseye Asset Management LLC lifted its holdings in shares of CryoPort by 6.2% in the 4th quarter. Bullseye Asset Management LLC now owns 315,069 shares of the company’s stock valued at $3,025,000 after acquiring an additional 18,495 shares during the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

About CryoPort

CryoPort, Inc is a life sciences logistics company that provides temperature-controlled supply chain solutions for the development, manufacture and delivery of advanced therapies, biologics and other temperature-sensitive materials. Its services are used in areas including cell and gene therapy, regenerative medicine, pharmaceuticals, clinical research and reproductive medicine.

The company offers specialized shipping systems, cryogenic storage and monitoring technologies, logistics coordination, inventory management and related support services.