CryoPort (NASDAQ:CYRX) Upgraded at Leerink Partners

Leerink Partners upgraded shares of CryoPort (NASDAQ:CYRX) from a market perform rating to an outperform rating in a research note released on Wednesday morning, MarketBeat reports. Leerink Partners currently has $16.00 price objective on the stock.

Several other research analysts also recently weighed in on the stock. Guggenheim reiterated a “buy” rating and issued a $10.00 price target on shares of CryoPort in a research report on Wednesday, April 16th. Morgan Stanley reduced their price objective on shares of CryoPort from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, May 5th. Stephens assumed coverage on shares of CryoPort in a research note on Tuesday, July 22nd. They issued an “overweight” rating and a $13.00 price objective for the company. BTIG Research reduced their price objective on shares of CryoPort from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, July 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of CryoPort in a research note on Thursday, May 8th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $12.00.

CryoPort Stock Down 7.8%

CYRX opened at $7.56 on Wednesday. The company has a current ratio of 5.56, a quick ratio of 5.24 and a debt-to-equity ratio of 0.51. CryoPort has a 1-year low of $4.58 and a 1-year high of $9.66. The company has a market capitalization of $379.06 million, a PE ratio of 5.68 and a beta of 1.88. The firm’s 50 day simple moving average is $7.20 and its two-hundred day simple moving average is $6.59.

CryoPort (NASDAQ:CYRX) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.09). CryoPort had a negative return on equity of 10.48% and a net margin of 37.21%. The business had revenue of $45.45 million during the quarter, compared to the consensus estimate of $41.74 million. As a group, equities analysts forecast that CryoPort will post -0.99 EPS for the current year.

Insider Activity at CryoPort

In related news, CEO Jerrell Shelton sold 151,304 shares of the firm’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $6.81, for a total transaction of $1,030,380.24. Following the completion of the transaction, the chief executive officer directly owned 912,419 shares of the company’s stock, valued at approximately $6,213,573.39. This trade represents a 14.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ramkumar Mandalam sold 40,728 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $7.24, for a total transaction of $294,870.72. Following the transaction, the director directly owned 92,328 shares of the company’s stock, valued at $668,454.72. The trade was a 30.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 490,447 shares of company stock valued at $3,337,198. Insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On CryoPort

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of CryoPort by 148.7% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,546 shares of the company’s stock worth $28,000 after buying an additional 2,120 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of CryoPort by 299.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,639 shares of the company’s stock worth $27,000 after acquiring an additional 2,729 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of CryoPort in the 4th quarter worth about $51,000. Quarry LP bought a new stake in shares of CryoPort in the 4th quarter worth about $69,000. Finally, ProShare Advisors LLC bought a new stake in shares of CryoPort in the 2nd quarter worth about $75,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

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.