Cryoport, Inc. (NASDAQ:CYRX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Cryoport, Inc. (NASDAQ:CYRX) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $12.29.

A number of equities analysts recently commented on CYRX shares. Roth Mkm cut their price objective on Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Guggenheim assumed coverage on shares of Cryoport in a research note on Thursday, December 19th. They issued a “buy” rating and a $11.00 price objective on the stock. Finally, UBS Group lifted their target price on shares of Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th.

Cryoport Stock Up 6.4 %

Shares of NASDAQ:CYRX opened at $8.49 on Friday. The firm has a market cap of $419.67 million, a P/E ratio of -2.51 and a beta of 1.58. Cryoport has a 12-month low of $5.32 and a 12-month high of $20.10. The business has a fifty day simple moving average of $7.54 and a 200 day simple moving average of $7.84. The company has a quick ratio of 5.32, a current ratio of 5.70 and a debt-to-equity ratio of 0.48.

Insider Activity at Cryoport

In related news, Director Ramkumar Mandalam sold 7,369 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $7.46, for a total transaction of $54,972.74. Following the transaction, the director now directly owns 59,497 shares of the company’s stock, valued at approximately $443,847.62. This represents a 11.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jerrell Shelton sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $6.51, for a total value of $325,500.00. Following the completion of the sale, the chief executive officer now directly owns 731,897 shares of the company’s stock, valued at $4,764,649.47. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,869 shares of company stock worth $735,673 in the last quarter. Company insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CYRX. Thematics Asset Management increased its position in shares of Cryoport by 176.2% during the third quarter. Thematics Asset Management now owns 1,705,000 shares of the company’s stock worth $13,828,000 after acquiring an additional 1,087,800 shares in the last quarter. Fred Alger Management LLC increased its holdings in Cryoport by 49.9% during the 3rd quarter. Fred Alger Management LLC now owns 2,698,768 shares of the company’s stock worth $21,887,000 after purchasing an additional 898,481 shares in the last quarter. AXA S.A. raised its stake in shares of Cryoport by 274.2% in the second quarter. AXA S.A. now owns 873,217 shares of the company’s stock worth $6,034,000 after purchasing an additional 639,855 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Cryoport in the third quarter worth approximately $3,405,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Cryoport by 1,464.4% in the third quarter. JPMorgan Chase & Co. now owns 305,237 shares of the company’s stock valued at $2,475,000 after purchasing an additional 285,726 shares in the last quarter. 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.