CryoPort (NASDAQ:CYRX) Reaches New 1-Year High – Should You Buy?

CryoPort, Inc. (NASDAQ:CYRX)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $16.90 and last traded at $16.88, with a volume of 277096 shares changing hands. The stock had previously closed at $16.71.

Analyst Ratings Changes

Several brokerages have recently commented on CYRX. BTIG Research raised their price objective on shares of CryoPort from $17.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Needham & Company LLC lifted their price target on shares of CryoPort from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Roth Capital restated a “buy” rating and set a $21.00 price objective on shares of CryoPort in a report on Friday, August 7th. Craig Hallum raised their price objective on shares of CryoPort from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Finally, Jefferies Financial Group set a $13.50 price objective on shares of CryoPort in a report on Monday, June 8th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, CryoPort presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

CryoPort Trading Up 2.5%

The stock has a market cap of $867.63 million, a P/E ratio of -19.03 and a beta of 1.89. The company’s 50-day simple moving average is $15.51 and its 200 day simple moving average is $12.28.

CryoPort (NASDAQ:CYRX) last released its 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). CryoPort had a negative return on equity of 7.20% and a negative net margin of 20.05%.The business had revenue of $48.97 million for the quarter, compared to the consensus estimate of $48.18 million. Research analysts anticipate that CryoPort, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Transactions at CryoPort

In other CryoPort news, insider Edward J. Zecchini sold 33,600 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $14.47, for a total transaction of $486,192.00. Following the completion of the transaction, the insider owned 109,719 shares in the company, valued at $1,587,633.93. This trade represents a 23.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ramkumar Mandalam sold 23,214 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $15.44, for a total transaction of $358,424.16. Following the completion of the transaction, the director directly owned 67,894 shares of the company’s stock, valued at approximately $1,048,283.36. This trade represents a 25.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 256,441 shares of company stock valued at $4,051,923. Corporate insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC grew its stake in CryoPort by 6.6% during the fourth quarter. LPL Financial LLC now owns 23,306 shares of the company’s stock valued at $224,000 after acquiring an additional 1,433 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in CryoPort by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 18,178 shares of the company’s stock valued at $136,000 after purchasing an additional 1,557 shares in the last quarter. State of Wyoming raised its stake in CryoPort by 30.2% in the second quarter. State of Wyoming now owns 14,218 shares of the company’s stock valued at $106,000 after purchasing an additional 3,301 shares in the last quarter. Basepoint Wealth LLC bought a new stake in CryoPort during the fourth quarter valued at approximately $34,000. Finally, BNP Paribas Financial Markets lifted its position in CryoPort by 55.2% during the third quarter. BNP Paribas Financial Markets now owns 11,880 shares of the company’s stock valued at $113,000 after purchasing an additional 4,225 shares during the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

About CryoPort

CryoPort, Inc (NASDAQ: CYRX) is a global provider of temperature-controlled logistics solutions for the life sciences industry. The company specializes in cryogenic shipping for critical biological materials, supporting the development, clinical testing and commercialization of cell and gene therapies, biologics, vaccines and reproductive medicine. By offering end-to-end supply chain management, CryoPort helps ensure the integrity and viability of temperature-sensitive products from point of origin to destination.

CryoPort’s product portfolio includes proprietary cryogenic dry shippers, advanced active and passive thermal packaging, and real-time data monitoring platforms.