Cryoport (NASDAQ:CYRX) Raised to Buy at UBS Group

UBS Group upgraded shares of Cryoport (NASDAQ:CYRX) from a neutral rating to a buy rating in a research note released on Monday morning, Marketbeat Ratings reports. They currently have $10.00 price target on the stock.

A number of other research analysts have also weighed in on CYRX. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Cryoport in a research report on Wednesday, March 5th. Guggenheim started coverage on Cryoport in a research report on Thursday, December 19th. They set a “buy” rating and a $11.00 price objective for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Cryoport currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

Cryoport Stock Up 24.8 %

Shares of CYRX stock opened at $7.10 on Monday. The stock’s 50 day simple moving average is $6.78 and its 200 day simple moving average is $7.36. Cryoport has a twelve month low of $4.58 and a twelve month high of $20.11. 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 company has a market capitalization of $354.36 million, a price-to-earnings ratio of -2.10 and a beta of 1.67.

Cryoport (NASDAQ:CYRX) last released its quarterly 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 net margin of 70.08% and a negative return on equity of 13.35%. The firm had revenue of $59.53 million during the quarter, compared to the consensus estimate of $58.71 million. During the same period in the prior year, the business earned ($0.29) EPS. As a group, research analysts predict that Cryoport will post -0.99 EPS for the current year.

Insider Transactions at Cryoport

In other news, CEO Jerrell Shelton sold 4,620 shares of Cryoport stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $6.29, for a total transaction of $29,059.80. Following the sale, the chief executive officer now owns 765,399 shares of the company’s stock, valued at approximately $4,814,359.71. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 14,431 shares of company stock worth $80,884. 10.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Thematics Asset Management increased its holdings in Cryoport by 176.2% in the 3rd quarter. Thematics Asset Management now owns 1,705,000 shares of the company’s stock valued at $13,828,000 after buying an additional 1,087,800 shares during the period. Fred Alger Management LLC boosted its position in shares of Cryoport by 49.9% during the 3rd quarter. Fred Alger Management LLC now owns 2,698,768 shares of the company’s stock valued at $21,887,000 after acquiring an additional 898,481 shares in the last quarter. Cadian Capital Management LP raised its position in Cryoport by 14.1% in the fourth quarter. Cadian Capital Management LP now owns 4,927,027 shares of the company’s stock worth $38,332,000 after purchasing an additional 609,021 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Cryoport in the third quarter worth about $3,405,000. Finally, Millennium Management LLC lifted its stake in Cryoport by 11.0% during 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 period. 92.90% of the stock is owned by institutional investors.

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.