Brokerages Set Cryoport, Inc. (NASDAQ:CYRX) Target Price at $18.25

Shares of Cryoport, Inc. (NASDAQ:CYRX) have been assigned an average rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $18.25.

Several analysts recently commented on the stock. Stephens reiterated an “equal weight” rating and issued a $17.00 price objective on shares of Cryoport in a research note on Wednesday, March 13th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Cryoport in a research note on Wednesday, May 8th. UBS Group upped their price target on Cryoport from $14.50 to $17.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. B. Riley cut Cryoport from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $19.00 in a report on Friday, May 3rd. Finally, Jefferies Financial Group initiated coverage on Cryoport in a report on Thursday, April 4th. They issued a “buy” rating and a $21.00 target price on the stock.

Insider Activity

In other news, insider Edward J. Zecchini sold 3,443 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $13.37, for a total transaction of $46,032.91. Following the transaction, the insider now directly owns 60,051 shares in the company, valued at approximately $802,881.87. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Edward J. Zecchini sold 3,443 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $13.37, for a total transaction of $46,032.91. Following the completion of the transaction, the insider now owns 60,051 shares of the company’s stock, valued at $802,881.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard J. Berman sold 8,105 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $13.41, for a total transaction of $108,688.05. Following the transaction, the director now directly owns 100,000 shares in the company, valued at approximately $1,341,000. The disclosure for this sale can be found here. Insiders sold a total of 16,625 shares of company stock valued at $243,772 in the last 90 days. 10.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank raised its holdings in shares of Cryoport by 73.0% in the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock worth $62,000 after purchasing an additional 1,469 shares during the period. Natixis Investment Managers International lifted its position in Cryoport by 61.5% during the fourth quarter. Natixis Investment Managers International now owns 4,536 shares of the company’s stock valued at $70,000 after buying an additional 1,727 shares in the last quarter. Lazard Asset Management LLC grew its stake in Cryoport by 294.3% during the first quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock worth $95,000 after buying an additional 4,014 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Cryoport in the third quarter worth $163,000. Finally, Pathstone Family Office LLC acquired a new stake in shares of Cryoport in the third quarter worth $165,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

Cryoport Trading Up 3.9 %

NASDAQ:CYRX opened at $9.70 on Friday. The company has a market capitalization of $477.82 million, a PE ratio of -3.93 and a beta of 1.64. Cryoport has a 52-week low of $9.00 and a 52-week high of $20.10. The stock’s 50 day moving average price is $13.01 and its 200 day moving average price is $15.00. The company has a quick ratio of 10.22, a current ratio of 10.73 and a debt-to-equity ratio of 0.86.

Cryoport (NASDAQ:CYRX) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.06). The company had revenue of $54.59 million for the quarter, compared to analyst estimates of $58.78 million. Cryoport had a negative return on equity of 15.19% and a negative net margin of 50.17%. Cryoport’s revenue for the quarter was down 13.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.16) earnings per share. On average, research analysts anticipate that Cryoport will post -1.35 EPS for the current year.

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.