Cryoport (NASDAQ:CYRX) Rating Increased to Buy at UBS Group

UBS Group upgraded shares of Cryoport (NASDAQ:CYRX) from a neutral rating to a buy rating in a report issued on Monday, MarketBeat reports. They currently have $10.00 target price on the stock.

CYRX has been the topic of a number of other research reports. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Cryoport in a report on Wednesday, March 5th. Guggenheim started coverage on shares of Cryoport in a research report on Thursday, December 19th. They set a “buy” rating and a $11.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.67.

Cryoport Stock Performance

CYRX opened at $7.10 on Monday. 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 firm has a market cap of $354.36 million, a PE ratio of -2.10 and a beta of 1.67. The business has a fifty day simple moving average of $6.78 and a 200-day simple moving average of $7.36. Cryoport has a fifty-two week low of $4.58 and a fifty-two week high of $20.11.

Cryoport (NASDAQ:CYRX) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.09). The company had revenue of $59.53 million during the quarter, compared to analyst estimates of $58.71 million. Cryoport had a negative net margin of 70.08% and a negative return on equity of 13.35%. During the same quarter last year, the business earned ($0.29) EPS. As a group, equities analysts predict that Cryoport will post -0.99 EPS for the current fiscal year.

Insider Activity at Cryoport

In other Cryoport news, CEO Jerrell Shelton sold 4,620 shares of Cryoport stock in a transaction on Monday, March 17th. The shares were sold at an average price of $6.29, for a total transaction of $29,059.80. Following the completion of the sale, the chief executive officer now owns 765,399 shares of the company’s stock, valued at $4,814,359.71. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 14,431 shares of company stock valued at $80,884. Corporate insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On Cryoport

A number of hedge funds have recently modified their holdings of the stock. Bullseye Asset Management LLC grew its stake in Cryoport by 58.7% in the third quarter. Bullseye Asset Management LLC now owns 214,264 shares of the company’s stock valued at $1,737,000 after purchasing an additional 79,244 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Cryoport in the 3rd quarter valued at approximately $3,405,000. Barclays PLC increased its holdings in Cryoport by 272.9% in the third quarter. Barclays PLC now owns 81,417 shares of the company’s stock worth $660,000 after buying an additional 59,582 shares during the last quarter. SG Americas Securities LLC raised its position in Cryoport by 44.8% during the fourth quarter. SG Americas Securities LLC now owns 146,789 shares of the company’s stock valued at $1,142,000 after acquiring an additional 45,430 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Cryoport by 2.9% in the fourth quarter. Rhumbline Advisers now owns 63,284 shares of the company’s stock valued at $492,000 after acquiring an additional 1,764 shares during the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

About Cryoport

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.