Cryoport (NASDAQ:CYRX) Shares Gap Up to $16.06

Shares of Cryoport, Inc. (NASDAQ:CYRX) gapped up before the market opened on Tuesday . The stock had previously closed at $16.06, but opened at $16.50. Cryoport shares last traded at $16.79, with a volume of 25,931 shares traded.

Analyst Ratings Changes

CYRX has been the subject of a number of research reports. UBS Group boosted their target price on shares of Cryoport from $14.50 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Jefferies Financial Group began coverage on shares of Cryoport in a research note on Thursday, April 4th. They set a “buy” rating and a $21.00 price objective for the company. Needham & Company LLC dropped their price objective on shares of Cryoport from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Finally, Stephens reaffirmed an “equal weight” rating and set a $17.00 price objective on shares of Cryoport in a research note on Wednesday, March 13th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.63.

Cryoport Stock Performance

The firm’s 50 day moving average price is $16.86 and its two-hundred day moving average price is $14.91. The company has a debt-to-equity ratio of 0.82, a quick ratio of 11.16 and a current ratio of 11.73. The firm has a market cap of $797.93 million, a PE ratio of -7.38 and a beta of 1.60.

Cryoport (NASDAQ:CYRX) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.19). Cryoport had a negative net margin of 42.69% and a negative return on equity of 11.86%. The firm had revenue of $57.26 million during the quarter, compared to analysts’ expectations of $58.27 million. On average, research analysts forecast that Cryoport, Inc. will post -1.31 earnings per share for the current year.

Insider Transactions at Cryoport

In other news, CEO Jerrell Shelton sold 57,039 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $15.30, for a total value of $872,696.70. Following the transaction, the chief executive officer now directly owns 634,352 shares in the company, valued at approximately $9,705,585.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Jerrell Shelton sold 57,039 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $15.30, for a total value of $872,696.70. Following the transaction, the chief executive officer now directly owns 634,352 shares in the company, valued at approximately $9,705,585.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ramkumar Mandalam sold 3,217 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $14.68, for a total transaction of $47,225.56. Following the completion of the transaction, the director now owns 43,187 shares in the company, valued at $633,985.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,940 shares of company stock worth $1,147,538. 10.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cryoport

A number of hedge funds have recently added to or reduced their stakes in CYRX. Arizona State Retirement System increased its position in shares of Cryoport by 5.4% in the 4th quarter. Arizona State Retirement System now owns 13,665 shares of the company’s stock valued at $212,000 after purchasing an additional 696 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cryoport by 13.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,462 shares of the company’s stock valued at $157,000 after purchasing an additional 1,395 shares during the last quarter. Natixis Investment Managers International grew its position in shares of Cryoport by 61.5% in the 4th quarter. Natixis Investment Managers International now owns 4,536 shares of the company’s stock valued at $70,000 after buying an additional 1,727 shares during the last quarter. Advisors Capital Management LLC grew its position in shares of Cryoport by 2.5% in the 3rd quarter. Advisors Capital Management LLC now owns 78,993 shares of the company’s stock valued at $1,083,000 after buying an additional 1,947 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its position in shares of Cryoport by 4.2% in the 4th quarter. Conestoga Capital Advisors LLC now owns 70,727 shares of the company’s stock valued at $1,096,000 after buying an additional 2,825 shares during the last quarter. 92.90% of the stock is currently 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.