Cryoport (NASDAQ:CYRX) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Cryoport (NASDAQ:CYRX - Free Report) in a research note released on Friday,Benzinga reports. Needham & Company LLC currently has a $11.00 price target on the stock.

A number of other equities research analysts have also weighed in on CYRX. Roth Mkm reduced their price objective on shares of Cryoport from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, November 8th. Guggenheim initiated coverage on Cryoport in a research note on Thursday, December 19th. They issued a "buy" rating and a $11.00 price target on the stock. Finally, UBS Group upped their price objective on Cryoport from $7.00 to $9.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $12.29.

Cryoport Stock Up 0.1 %

Shares of CYRX stock traded up $0.01 during trading hours on Friday, reaching $7.50. 217,091 shares of the stock were exchanged, compared to its average volume of 234,734. Cryoport has a 12-month low of $5.32 and a 12-month high of $20.10. The business's fifty day moving average is $7.68 and its two-hundred day moving average is $7.86. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32. The firm has a market capitalization of $370.73 million, a P/E ratio of -2.22 and a beta of 1.58.

Insider Transactions at Cryoport

In other news, Director Ramkumar Mandalam sold 7,369 shares of Cryoport stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $7.46, for a total value of $54,972.74. Following the transaction, the director now directly owns 59,497 shares of the company's stock, valued at $443,847.62. The trade was a 11.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $325,500.00. Following the sale, the chief executive officer now owns 731,897 shares of the company's stock, valued at approximately $4,764,649.47. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,869 shares of company stock worth $735,673. Corporate insiders own 10.10% of the company's stock.

Hedge Funds Weigh In On Cryoport

Several institutional investors have recently added to or reduced their stakes in the stock. Avanza Fonder AB acquired a new position in shares of Cryoport in the fourth quarter valued at approximately $64,000. Dynamic Technology Lab Private Ltd purchased a new position in Cryoport in the 3rd quarter valued at $82,000. Hsbc Holdings PLC acquired a new position in Cryoport in the 2nd quarter valued at $92,000. Intech Investment Management LLC purchased a new position in Cryoport during the 3rd quarter worth $105,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Cryoport by 9.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company's stock worth $122,000 after acquiring an additional 1,534 shares during the period. 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.