CryoPort (NASDAQ:CYRX) Stock Price Expected to Rise, BTIG Research Analyst Says

CryoPort (NASDAQ:CYRX) had its target price increased by stock analysts at BTIG Research from $17.00 to $25.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective would suggest a potential upside of 55.96% from the stock’s current price.

Several other research firms also recently commented on CYRX. Wall Street Zen upgraded shares of CryoPort from a “sell” rating to a “hold” rating in a research note on Monday, May 11th. Guggenheim lifted their price target on shares of CryoPort from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Weiss Ratings upgraded shares of CryoPort from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Craig Hallum increased their price objective on shares of CryoPort from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Finally, Jefferies Financial Group set a $13.50 target price on shares of CryoPort in a research note on Monday, June 8th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, CryoPort presently has an average rating of “Moderate Buy” and an average price target of $16.38.

CryoPort Trading Down 2.4%

CYRX opened at $16.03 on Friday. The stock’s 50-day moving average price is $15.25 and its 200 day moving average price is $11.57. CryoPort has a 12-month low of $6.69 and a 12-month high of $16.89. The firm has a market cap of $807.94 million, a price-to-earnings ratio of 11.87 and a beta of 1.88.

CryoPort (NASDAQ:CYRX) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.03). The business had revenue of $47.80 million for the quarter, compared to analyst estimates of $44.86 million. CryoPort had a negative return on equity of 7.92% and a net margin of 41.57%. On average, research analysts forecast that CryoPort will post -0.85 earnings per share for the current year.

Insider Transactions at CryoPort

In related news, CFO Robert Stefanovich sold 169,427 shares of CryoPort stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $16.27, for a total value of $2,756,577.29. Following the sale, the chief financial officer directly owned 109,850 shares in the company, valued at $1,787,259.50. The trade was a 60.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward J. Zecchini sold 33,600 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $14.47, for a total value of $486,192.00. Following the completion of the transaction, the insider owned 109,719 shares of the company’s stock, valued at approximately $1,587,633.93. This represents a 23.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 227,641 shares of company stock worth $3,622,515. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Basepoint Wealth LLC purchased a new position in CryoPort in the 4th quarter worth approximately $34,000. Tower Research Capital LLC TRC boosted its holdings in CryoPort by 300.1% in the second quarter. Tower Research Capital LLC TRC now owns 5,833 shares of the company’s stock valued at $44,000 after purchasing an additional 4,375 shares during the last quarter. Creative Planning acquired a new stake in CryoPort during the 2nd quarter valued at approximately $96,000. Quadrature Capital Ltd acquired a new stake in CryoPort during the 4th quarter valued at approximately $97,000. Finally, State of Wyoming increased its holdings in CryoPort by 30.2% during the 2nd quarter. State of Wyoming now owns 14,218 shares of the company’s stock worth $106,000 after purchasing an additional 3,301 shares during the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

About CryoPort

CryoPort, Inc (NASDAQ: CYRX) is a global provider of temperature-controlled logistics solutions for the life sciences industry. The company specializes in cryogenic shipping for critical biological materials, supporting the development, clinical testing and commercialization of cell and gene therapies, biologics, vaccines and reproductive medicine. By offering end-to-end supply chain management, CryoPort helps ensure the integrity and viability of temperature-sensitive products from point of origin to destination.

CryoPort’s product portfolio includes proprietary cryogenic dry shippers, advanced active and passive thermal packaging, and real-time data monitoring platforms.