Brokerages Set CryoPort, Inc. (NASDAQ:CYRX) PT at $18.00

CryoPort, Inc. (NASDAQ:CYRX) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $18.00.

CYRX has been the topic of a number of recent research reports. Guggenheim raised their target price on CryoPort from $12.00 to $16.00 and gave the company a “buy” rating in a report on Friday, August 7th. Needham & Company LLC upped their price target on CryoPort from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, August 7th. KeyCorp increased their price target on CryoPort from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Weiss Ratings cut CryoPort from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, August 17th. Finally, Roth Capital reaffirmed a “buy” rating and set a $21.00 price objective on shares of CryoPort in a report on Friday, August 7th.

CryoPort Price Performance

NASDAQ:CYRX opened at $16.51 on Monday. CryoPort has a one year low of $7.61 and a one year high of $17.20. The company has a market cap of $836.23 million, a PE ratio of -18.34 and a beta of 1.89. The firm has a 50-day moving average of $15.75 and a 200-day moving average of $13.24.

CryoPort (NASDAQ:CYRX) last announced its quarterly earnings results 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). The business had revenue of $48.97 million during the quarter, compared to the consensus estimate of $48.18 million. CryoPort had a negative net margin of 20.05% and a negative return on equity of 7.20%. On average, equities research analysts expect that CryoPort will post -0.83 earnings per share for the current fiscal year.

Insider Activity at CryoPort

In other news, CEO Jerrell Shelton sold 28,800 shares of the stock in a transaction dated Tuesday, August 11th. The shares were 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 owned 1,201,814 shares in the company, valued at $17,919,046.74. This represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CryoPort

Institutional investors have recently added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new position in shares of CryoPort during the 4th quarter worth approximately $34,000. AXQ Capital LP purchased a new stake in shares of CryoPort during the fourth quarter valued at approximately $125,000. Highland Investment Advisors LLC bought a new stake in CryoPort during the second quarter worth $306,000. State of Wyoming lifted its holdings in CryoPort by 9.4% during the first quarter. State of Wyoming now owns 42,520 shares of the company’s stock worth $352,000 after acquiring an additional 3,638 shares during the period. Finally, Kerrisdale Advisers LLC purchased a new position in CryoPort in the second quarter worth $355,000. 92.90% of the stock is owned by institutional investors.

CryoPort Company Profile

Cryoport, Inc (NASDAQ: CYRX) provides temperature-controlled logistics and supply-chain solutions for the life sciences industry. The company supports the transportation, storage and management of sensitive biological materials, including cell and gene therapies, biologics, vaccines, clinical-trial materials and reproductive tissues.

Its offerings include specialized cryogenic and refrigerated shipping systems, monitoring and tracking technologies, logistics coordination, packaging and storage services, and related bioservices.