Brokerages Set Cryoport, Inc. (NASDAQ:CYRX) Target Price at $12.50

Shares of Cryoport, Inc. (NASDAQ:CYRX) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $12.50.

Several brokerages recently commented on CYRX. UBS Group lifted their target price on shares of Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Roth Mkm cut their price objective on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 8th.

Insiders Place Their Bets

In related news, Director Ramkumar Mandalam sold 7,369 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $7.46, for a total value of $54,972.74. Following the sale, the director now directly owns 59,497 shares of the company’s stock, valued at $443,847.62. This trade represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jerrell Shelton sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $6.51, for a total transaction of $325,500.00. Following the completion of the sale, the chief executive officer now directly owns 731,897 shares in the company, valued at $4,764,649.47. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,869 shares of company stock worth $735,673 over the last quarter. 10.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cryoport

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank grew its position in shares of Cryoport by 73.0% in the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock worth $62,000 after buying an additional 1,469 shares during the period. Quest Partners LLC grew its position in Cryoport by 1,083,000.0% during the 2nd quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock valued at $75,000 after purchasing an additional 10,830 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Cryoport during the 3rd quarter valued at about $82,000. Hsbc Holdings PLC purchased a new stake in Cryoport during the 2nd quarter valued at about $92,000. Finally, Intech Investment Management LLC purchased a new stake in Cryoport during the 3rd quarter valued at about $105,000. 92.90% of the stock is currently owned by institutional investors.

Cryoport Trading Down 3.1 %

Shares of NASDAQ:CYRX opened at $7.27 on Tuesday. Cryoport has a 12 month low of $5.32 and a 12 month high of $20.10. The company has a quick ratio of 5.32, a current ratio of 5.70 and a debt-to-equity ratio of 0.48. The company’s fifty day simple moving average is $7.33 and its 200 day simple moving average is $8.26. The firm has a market cap of $359.36 million, a price-to-earnings ratio of -2.15 and a beta of 1.62.

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.