Cryoport (NASDAQ:CYRX) Stock Price Up 4.2%

Posted by MarketBeat News on Sep 12th, 2023

Cryoport, Inc. (NASDAQ:CYRX – Get Free Report)’s share price rose 4.2% during trading on Tuesday . The stock traded as high as $13.07 and last traded at $13.06. Approximately 273,357 shares changed hands during trading, a decline of 46% from the average daily volume of 509,097 shares. The stock had previously closed at $12.53.

Wall Street Analysts Forecast Growth

CYRX has been the topic of a number of recent research reports. SVB Leerink downgraded Cryoport from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 13th. SVB Securities lowered Cryoport from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $30.00 to $10.00 in a research note on Thursday, July 13th. Needham & Company LLC cut their price objective on Cryoport from $30.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. UBS Group lowered Cryoport from a “buy” rating to a “neutral” rating and reduced their price target for the company from $28.00 to $17.00 in a research report on Tuesday, July 18th. Finally, Morgan Stanley initiated coverage on Cryoport in a research note on Thursday, August 17th. They set an “equal weight” rating and a $16.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.78.

Check Out Our Latest Stock Report on CYRX

Cryoport Stock Performance

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The company has a market capitalization of $677.48 million, a price-to-earnings ratio of -13.82 and a beta of 1.26. The stock has a fifty day moving average price of $14.93 and a two-hundred day moving average price of $18.79. The company has a quick ratio of 13.82, a current ratio of 14.54 and a debt-to-equity ratio of 0.78.

Cryoport (NASDAQ:CYRX – Get Free Report) last released its earnings results on Wednesday, August 9th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.17). Cryoport had a negative net margin of 16.07% and a negative return on equity of 7.23%. The business had revenue of $57.02 million during the quarter, compared to analyst estimates of $56.94 million. As a group, analysts forecast that Cryoport, Inc. will post -1.07 EPS for the current fiscal year.

Insider Transactions at Cryoport

In related news, insider Jerrell Shelton sold 26,875 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $14.27, for a total value of $383,506.25. Following the transaction, the insider now owns 632,424 shares in the company, valued at $9,024,690.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Cryoport

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new position in Cryoport during the first quarter worth $393,000. abrdn plc grew its holdings in Cryoport by 24.6% during the 4th quarter. abrdn plc now owns 1,022,940 shares of the company’s stock worth $17,748,000 after acquiring an additional 201,979 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Cryoport by 0.7% in the 4th quarter. Clearbridge Investments LLC now owns 1,225,174 shares of the company’s stock valued at $21,257,000 after buying an additional 8,986 shares during the period. Innovis Asset Management LLC lifted its position in Cryoport by 26.9% during the 1st quarter. Innovis Asset Management LLC now owns 35,410 shares of the company’s stock worth $850,000 after buying an additional 7,500 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Cryoport by 54.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,484 shares of the company’s stock worth $60,000 after buying an additional 878 shares in the last quarter. 92.90% of the stock is owned by institutional investors.

About Cryoport

(Get Free Report)

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. It operates in two segments: Global Logistics Solutions and Global Bioservices. 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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