UBS Group Upgrades Cryoport (NASDAQ:CYRX) to Buy

Cryoport (NASDAQ:CYRX) was upgraded by UBS Group from a “neutral” rating to a “buy” rating in a research report issued on Monday, Marketbeat Ratings reports. The brokerage currently has a $10.00 price target on the stock. UBS Group’s target price would indicate a potential upside of 60.26% from the stock’s current price.

CYRX has been the subject of a number of other reports. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Cryoport in a report 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 target on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Cryoport presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

Cryoport Stock Performance

Shares of CYRX stock opened at $6.24 on Monday. 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 firm has a market cap of $311.44 million, a P/E ratio of -1.85 and a beta of 1.67. The firm’s 50 day moving average price is $6.75 and its 200-day moving average price is $7.35. Cryoport has a one year low of $4.58 and a one year high of $20.11.

Cryoport (NASDAQ:CYRX) last announced its earnings results on Tuesday, March 4th. The company reported ($0.42) earnings per share (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 analysts’ expectations of $58.71 million. During the same period in the previous year, the firm earned ($0.29) EPS. As a group, equities research analysts predict that Cryoport will post -0.99 EPS for the current year.

Insider Activity at Cryoport

In other Cryoport news, CEO Jerrell Shelton sold 4,620 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $6.29, for a total value of $29,059.80. Following the sale, the chief executive officer now owns 765,399 shares of the company’s stock, valued at $4,814,359.71. This trade represents a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 14,431 shares of company stock worth $80,884. Company insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On Cryoport

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. PharVision Advisers LLC purchased a new position in Cryoport in the fourth quarter worth approximately $259,000. Squarepoint Ops LLC raised its holdings in shares of Cryoport by 208.4% in the 4th quarter. Squarepoint Ops LLC now owns 36,499 shares of the company’s stock valued at $284,000 after purchasing an additional 24,665 shares in the last quarter. State of Wyoming grew its stake in shares of Cryoport by 170.2% during the fourth quarter. State of Wyoming now owns 32,426 shares of the company’s stock worth $252,000 after purchasing an additional 20,427 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new position in Cryoport in the fourth quarter valued at $116,000. Finally, Silvercrest Asset Management Group LLC raised its stake in Cryoport by 77.0% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 742,914 shares of the company’s stock valued at $5,780,000 after buying an additional 323,216 shares in the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

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.