Cryoport (NASDAQ:CYRX) Price Target Lowered to $7.00 at Morgan Stanley

Cryoport (NASDAQ:CYRX) had its target price lowered by Morgan Stanley from $8.00 to $7.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 22.59% from the company’s previous close.

CYRX has been the subject of a number of other reports. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Cryoport in a research note on Wednesday, April 16th. Guggenheim restated a “buy” rating and issued a $10.00 target price on shares of Cryoport in a research note on Wednesday, April 16th. Roth Mkm reaffirmed a “buy” rating and set a $15.00 price objective on shares of Cryoport in a report on Tuesday, April 1st. Finally, UBS Group boosted their target price on shares of Cryoport from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Cryoport Stock Performance

Shares of Cryoport stock traded down $0.15 on Monday, reaching $5.71. 46,758 shares of the company were exchanged, compared to its average volume of 544,037. The company’s 50-day moving average is $5.80 and its two-hundred day moving average is $6.90. Cryoport has a 1-year low of $4.58 and a 1-year high of $16.89. The firm has a market cap of $286.28 million, a price-to-earnings ratio of -1.70 and a beta of 1.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70.

Cryoport (NASDAQ:CYRX) last issued its earnings results on Tuesday, March 4th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.09). Cryoport had a negative return on equity of 13.35% and a negative net margin of 70.08%. The business had revenue of $59.53 million for the quarter, compared to the consensus estimate of $58.71 million. During the same quarter in the previous year, the business posted ($0.29) earnings per share. As a group, research analysts expect that Cryoport will post -0.99 earnings per share for the current fiscal year.

Insider Activity at Cryoport

In related news, CEO Jerrell Shelton sold 4,620 shares of the business’s stock in a transaction 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 in the company, valued at $4,814,359.71. The trade was a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 19,830 shares of company stock valued at $118,353 over the last three months. 10.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Cryoport

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its stake in Cryoport by 272.9% during the 3rd quarter. Barclays PLC now owns 81,417 shares of the company’s stock valued at $660,000 after purchasing an additional 59,582 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Cryoport by 5.5% in the third quarter. Franklin Resources Inc. now owns 385,619 shares of the company’s stock valued at $3,127,000 after buying an additional 20,077 shares during the period. JPMorgan Chase & Co. grew its stake in Cryoport by 1,464.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 305,237 shares of the company’s stock valued at $2,475,000 after buying an additional 285,726 shares in the last quarter. Avanza Fonder AB bought a new stake in Cryoport during the 4th quarter valued at $64,000. Finally, SG Americas Securities LLC lifted its position in shares of Cryoport by 44.8% during the fourth quarter. SG Americas Securities LLC now owns 146,789 shares of the company’s stock worth $1,142,000 after acquiring an additional 45,430 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

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.