Needham & Company LLC reissued their buy rating on shares of Cryoport (NASDAQ:CYRX - Free Report) in a report released on Monday,Benzinga reports. Needham & Company LLC currently has a $11.00 price target on the stock.
A number of other research firms also recently issued reports on CYRX. Guggenheim initiated coverage on shares of Cryoport in a report on Thursday, December 19th. They issued a "buy" rating and a $11.00 price objective on the stock. UBS Group raised shares of Cryoport from a "neutral" rating to a "buy" rating and set a $10.00 price objective for the company in a research report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Cryoport has a consensus rating of "Moderate Buy" and an average price target of $11.83.
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Cryoport Stock Performance
NASDAQ:CYRX traded down $0.72 during mid-day trading on Monday, reaching $5.44. The company's stock had a trading volume of 441,413 shares, compared to its average volume of 537,608. 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 has a market cap of $271.51 million, a P/E ratio of -1.61 and a beta of 1.67. The firm's fifty day moving average price is $6.50 and its two-hundred day moving average price is $7.26. Cryoport has a 12-month low of $4.58 and a 12-month high of $20.11.
Cryoport (NASDAQ:CYRX - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.09). Cryoport had a negative return on equity of 13.35% and a negative net margin of 70.08%. The company had revenue of $59.53 million during the quarter, compared to the consensus estimate of $58.71 million. During the same period last year, the firm posted ($0.29) EPS. On average, equities analysts forecast that Cryoport will post -0.99 EPS for the current fiscal year.
Insider Activity at Cryoport
In other Cryoport news, CEO Jerrell Shelton sold 4,620 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.29, for a total value of $29,059.80. Following the completion of the sale, the chief executive officer now owns 765,399 shares of the company's stock, valued at $4,814,359.71. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 19,830 shares of company stock valued at $118,353. 10.10% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Cryoport
Hedge funds and other institutional investors have recently modified their holdings of the business. Cadian Capital Management LP grew its position in Cryoport by 14.1% in the 4th quarter. Cadian Capital Management LP now owns 4,927,027 shares of the company's stock valued at $38,332,000 after acquiring an additional 609,021 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Cryoport during the third quarter valued at $3,405,000. Millennium Management LLC grew its holdings in shares of Cryoport by 11.0% in the fourth quarter. Millennium Management LLC now owns 4,139,869 shares of the company's stock worth $32,208,000 after purchasing an additional 409,353 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Cryoport by 1,366.1% in the fourth quarter. LPL Financial LLC now owns 436,766 shares of the company's stock worth $3,398,000 after purchasing an additional 406,976 shares during the last quarter. Finally, Norges Bank purchased a new position in Cryoport in the 4th quarter worth about $2,711,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.
Cryoport Company Profile
(
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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.
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