CryoPort, Inc. (NASDAQ:CYRX) Stock Has Average Price Target of $18.38 According to Analysts

CryoPort, Inc. (NASDAQ:CYRX) has received an average rating of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $19.33.

A number of research firms have recently commented on CYRX. Weiss Ratings upgraded CryoPort from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. BTIG Research boosted their target price on shares of CryoPort from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday. Guggenheim increased their target price on shares of CryoPort from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, October 1st. Roth Capital restated a “buy” rating and set a $21.00 price target on shares of CryoPort in a research note on Friday, August 7th. Finally, Piper Sandler raised shares of CryoPort to a “buy” rating in a report on Tuesday.

CryoPort Stock Up 0.7%

Shares of NASDAQ CYRX opened at $16.95 on Friday. The company has a market capitalization of $858.52 million, a PE ratio of -18.83 and a beta of 1.96. The stock’s 50 day moving average price is $16.35 and its 200-day moving average price is $14.46. CryoPort has a twelve month low of $7.61 and a twelve month high of $18.36.

CryoPort (NASDAQ:CYRX) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $48.18 million. As a group, research analysts expect that CryoPort will post -0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other CryoPort news, CEO Jerrell Shelton sold 28,800 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $14.91, for a total value of $429,408.00. Following the completion of the sale, the chief executive officer directly owned 1,201,814 shares of the company’s stock, valued at $17,919,046.74. This trade represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new stake in CryoPort in the 2nd quarter worth about $518,000. Squarepoint Ops LLC raised its stake in CryoPort by 685.1% in the 2nd quarter. Squarepoint Ops LLC now owns 368,424 shares of the company’s stock valued at $5,784,000 after acquiring an additional 321,497 shares during the period. Highland Investment Advisors LLC purchased a new stake in CryoPort during the second quarter valued at about $306,000. Kerrisdale Advisers LLC purchased a new stake in CryoPort during the second quarter valued at about $355,000. Finally, Headlands Technologies LLC lifted its holdings in CryoPort by 14.5% during the second quarter. Headlands Technologies LLC now owns 38,742 shares of the company’s stock valued at $608,000 after purchasing an additional 4,906 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

CryoPort Company Profile

CryoPort, Inc is a life sciences logistics company that provides temperature-controlled supply chain solutions for the development, manufacture and delivery of advanced therapies, biologics and other temperature-sensitive materials. Its services are used in areas including cell and gene therapy, regenerative medicine, pharmaceuticals, clinical research and reproductive medicine.

The company offers specialized shipping systems, cryogenic storage and monitoring technologies, logistics coordination, inventory management and related support services.