Needham & Company LLC Reiterates “Buy” Rating for Cryoport (NASDAQ:CYRX)

Cryoport (NASDAQ:CYRX)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports. They currently have a $11.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 46.67% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. UBS Group boosted their price target on Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Roth Mkm dropped their price objective on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Guggenheim assumed coverage on shares of Cryoport in a report on Thursday, December 19th. They set a “buy” rating and a $11.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.29.

Cryoport Trading Up 0.1 %

NASDAQ:CYRX opened at $7.50 on Friday. The company has a 50 day simple moving average of $7.68 and a two-hundred day simple moving average of $7.86. The company has a market cap of $370.73 million, a PE ratio of -2.22 and a beta of 1.58. The company has a current ratio of 5.70, a quick ratio of 5.32 and a debt-to-equity ratio of 0.48. Cryoport has a 12 month low of $5.32 and a 12 month high of $20.10.

Insider Buying and Selling at Cryoport

In other Cryoport news, Director Ramkumar Mandalam sold 7,369 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $7.46, for a total value of $54,972.74. Following the completion of the transaction, the director now directly owns 59,497 shares in the company, valued at $443,847.62. This represents a 11.02 % decrease in their position. The transaction 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 stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $6.78, for a total transaction of $339,000.00. Following the sale, the chief executive officer now directly owns 712,747 shares of the company’s stock, valued at approximately $4,832,424.66. This trade represents a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,869 shares of company stock valued at $735,673 over the last 90 days. 10.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cryoport

Several hedge funds have recently modified their holdings of CYRX. Avanza Fonder AB bought a new stake in Cryoport in the 4th quarter valued at $64,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Cryoport in the third quarter worth about $82,000. Hsbc Holdings PLC bought a new stake in shares of Cryoport in the second quarter worth about $92,000. Intech Investment Management LLC purchased a new stake in shares of Cryoport in the third quarter worth about $105,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Cryoport by 9.5% during the second quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock valued at $122,000 after buying an additional 1,534 shares during the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

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.