Cryoport, Inc. (NASDAQ:CYRX) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Cryoport, Inc. (NASDAQ:CYRX - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six research firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $12.50.

CYRX has been the subject of a number of research reports. Needham & Company LLC dropped their target price on shares of Cryoport from $18.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. UBS Group increased their price objective on shares of Cryoport from $7.00 to $9.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Roth Mkm lowered their target price on Cryoport from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, November 8th. Finally, Jefferies Financial Group cut Cryoport from a "buy" rating to a "hold" rating and cut their price target for the company from $20.00 to $8.00 in a report on Wednesday, August 7th.

Insider Activity at Cryoport

In related news, CEO Jerrell Shelton sold 50,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $6.51, for a total value of $325,500.00. Following the transaction, the chief executive officer now owns 731,897 shares of the company's stock, valued at $4,764,649.47. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 102,500 shares of company stock worth $680,700 in the last three months. 10.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Fred Alger Management LLC boosted its holdings in Cryoport by 49.9% in the third quarter. Fred Alger Management LLC now owns 2,698,768 shares of the company's stock valued at $21,887,000 after purchasing an additional 898,481 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Cryoport by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,035,586 shares of the company's stock valued at $14,066,000 after acquiring an additional 52,103 shares during the last quarter. Thematics Asset Management boosted its stake in Cryoport by 176.2% in the third quarter. Thematics Asset Management now owns 1,705,000 shares of the company's stock valued at $13,828,000 after acquiring an additional 1,087,800 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Cryoport by 52.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,477,693 shares of the company's stock worth $10,211,000 after purchasing an additional 511,064 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Cryoport by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,097,369 shares of the company's stock worth $8,902,000 after purchasing an additional 38,520 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company's stock.

Cryoport Price Performance

NASDAQ:CYRX traded down $0.34 during trading hours on Tuesday, reaching $7.44. 322,517 shares of the company were exchanged, compared to its average volume of 566,517. Cryoport has a twelve month low of $5.32 and a twelve month high of $20.10. The company has a current ratio of 5.70, a quick ratio of 5.32 and a debt-to-equity ratio of 0.48. The stock's 50-day moving average is $7.36 and its 200-day moving average is $8.31. The firm has a market cap of $367.76 million, a PE ratio of -2.30 and a beta of 1.62.

Cryoport announced that its board has initiated a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 49.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Cryoport Company Profile

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.