UBS Group Upgrades Cryoport (NASDAQ:CYRX) to "Buy"

Cryoport (NASDAQ:CYRX - Get Free Report) was upgraded by UBS Group from a "neutral" rating to a "buy" rating in a note issued to investors on Monday, Marketbeat reports. The firm currently has a $10.00 price objective on the stock. UBS Group's target price would suggest a potential upside of 64.20% from the stock's current price.

CYRX has been the subject of a number of other research reports. Needham & Company LLC restated a "buy" rating and set a $11.00 target price on shares of Cryoport in a research note on Wednesday, March 5th. Guggenheim initiated coverage on shares of Cryoport in a research report on Thursday, December 19th. They set a "buy" rating and a $11.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.67.

Cryoport Stock Performance

Cryoport stock traded down $0.15 during midday trading on Monday, reaching $6.09. 272,866 shares of the company's stock were exchanged, compared to its average volume of 534,492. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70. The stock's 50-day simple moving average is $6.68 and its 200 day simple moving average is $7.32. The firm has a market cap of $303.95 million, a price-to-earnings ratio of -1.80 and a beta of 1.67. Cryoport has a 52 week low of $4.58 and a 52 week high of $20.11.

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Cryoport (NASDAQ:CYRX - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported ($0.42) earnings per share 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 business had revenue of $59.53 million for the quarter, compared to analyst estimates of $58.71 million. During the same period in the previous year, the firm posted ($0.29) earnings per share. On average, analysts expect that Cryoport will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jerrell Shelton sold 4,620 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 765,399 shares in the company, valued at approximately $4,814,359.71. The trade was a 0.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 19,830 shares of company stock worth $118,353 in the last quarter. 10.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Cryoport

Several large investors have recently made changes to their positions in CYRX. Bullseye Asset Management LLC lifted its stake in Cryoport by 58.7% during the third quarter. Bullseye Asset Management LLC now owns 214,264 shares of the company's stock worth $1,737,000 after purchasing an additional 79,244 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Cryoport during the 3rd quarter worth $3,405,000. Barclays PLC lifted its position in shares of Cryoport by 272.9% during the 3rd quarter. Barclays PLC now owns 81,417 shares of the company's stock worth $660,000 after buying an additional 59,582 shares during the last quarter. SG Americas Securities LLC boosted its stake in Cryoport by 44.8% in the fourth quarter. SG Americas Securities LLC now owns 146,789 shares of the company's stock valued at $1,142,000 after buying an additional 45,430 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Cryoport by 2.9% in the fourth quarter. Rhumbline Advisers now owns 63,284 shares of the company's stock valued at $492,000 after acquiring an additional 1,764 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company's stock.

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.