Cryoport (NASDAQ:CYRX) Upgraded 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. UBS Group currently has $10.00 target price on the stock.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Cryoport in a report on Wednesday, March 5th. Guggenheim started coverage on shares of Cryoport in a report on Thursday, December 19th. They issued 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, Cryoport has an average rating of “Moderate Buy” and a consensus target price of $11.67.

Cryoport Price Performance

NASDAQ:CYRX opened at $6.22 on Monday. The stock has a market capitalization of $310.44 million, a PE ratio of -1.84 and a beta of 1.67. Cryoport has a 1-year low of $4.58 and a 1-year high of $20.11. The firm has a fifty day simple moving average of $6.73 and a 200 day simple moving average of $7.34. The company has a current ratio of 5.70, a quick ratio of 5.32 and a debt-to-equity ratio of 0.48.

Cryoport (NASDAQ:CYRX) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $59.53 million for the quarter, compared to analyst estimates of $58.71 million. During the same period in the prior year, the business earned ($0.29) EPS. On average, research analysts expect that Cryoport will post -0.99 EPS for the current fiscal year.

Insider Transactions at Cryoport

In other Cryoport news, CEO Jerrell Shelton sold 4,620 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.29, for a total transaction of $29,059.80. Following the sale, the chief executive officer now directly owns 765,399 shares in the company, valued at $4,814,359.71. This represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 19,830 shares of company stock valued at $118,353. 10.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cryoport

Hedge funds and other institutional investors have recently made changes to their positions in the company. Thematics Asset Management boosted its position in shares of Cryoport by 176.2% during the 3rd 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 boosted its holdings in shares of Cryoport by 49.9% in the 3rd quarter. Fred Alger Management LLC now owns 2,698,768 shares of the company’s stock valued at $21,887,000 after purchasing an additional 898,481 shares in the last quarter. Cadian Capital Management LP boosted its holdings in shares of Cryoport by 14.1% in the 4th quarter. Cadian Capital Management LP now owns 4,927,027 shares of the company’s stock valued at $38,332,000 after purchasing an additional 609,021 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Cryoport in the 3rd quarter valued at $3,405,000. Finally, Millennium Management LLC raised its holdings in shares of Cryoport by 11.0% during the 4th quarter. Millennium Management LLC now owns 4,139,869 shares of the company’s stock worth $32,208,000 after buying an additional 409,353 shares in the last quarter. 92.90% of the stock is currently 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.