Cryoport, Inc. (NASDAQ:CYRX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Cryoport, Inc. (NASDAQ:CYRX) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $12.29.

Several research firms recently commented on CYRX. UBS Group boosted their target price on Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Cryoport in a research report on Friday, January 17th. Roth Mkm reduced their target price on Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Guggenheim initiated coverage on Cryoport in a report on Thursday, December 19th. They issued a “buy” rating and a $11.00 price objective for the company.

Cryoport Trading Up 8.8 %

NASDAQ CYRX opened at $8.16 on Wednesday. The business has a 50 day moving average price of $7.68 and a 200-day moving average price of $7.90. Cryoport has a 52 week low of $5.32 and a 52 week 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 has a market cap of $403.35 million, a price-to-earnings ratio of -2.41 and a beta of 1.58.

Cryoport (NASDAQ:CYRX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.23. Cryoport had a negative return on equity of 13.35% and a negative net margin of 70.08%. The business had revenue of $56.66 million during the quarter, compared to the consensus estimate of $58.13 million. During the same quarter in the prior year, the company posted ($0.31) earnings per share. As a group, equities analysts expect that Cryoport will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ramkumar Mandalam sold 7,369 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $7.46, for a total transaction of $54,972.74. Following the sale, the director now owns 59,497 shares in the company, valued at approximately $443,847.62. This represents a 11.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jerrell Shelton sold 50,000 shares of the stock in a transaction 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 approximately $4,764,649.47. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,869 shares of company stock worth $735,673 over the last ninety days. Corporate insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its position in Cryoport by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 64,158 shares of the company’s stock valued at $443,000 after acquiring an additional 2,086 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Cryoport during the second quarter worth $92,000. XTX Topco Ltd acquired a new position in Cryoport during the 2nd quarter valued at about $198,000. Marshall Wace LLP purchased a new stake in shares of Cryoport during the second quarter worth about $282,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Cryoport in the 2nd quarter valued at approximately $378,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

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.