Cryoport (NASDAQ:CYRX) Earns “Buy” Rating from Needham & Company LLC

Cryoport (NASDAQ:CYRX)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They currently have a $11.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 63.71% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. UBS Group raised shares of Cryoport from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Monday, March 24th. Guggenheim initiated coverage on Cryoport in a report on Thursday, December 19th. They set a “buy” rating and a $11.00 price target 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $11.67.

Cryoport Stock Up 10.3 %

NASDAQ:CYRX traded up $0.63 during midday trading on Monday, reaching $6.72. The company had a trading volume of 499,223 shares, compared to its average volume of 534,542. The stock’s fifty day simple moving average is $6.68 and its 200-day simple moving average is $7.31. 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 has a 12-month low of $4.58 and a 12-month high of $20.11. The firm has a market capitalization of $335.35 million, a price-to-earnings ratio of -1.97 and a beta of 1.67.

Cryoport (NASDAQ:CYRX) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.09). The company had revenue of $59.53 million for the quarter, compared to analyst estimates of $58.71 million. Cryoport had a negative return on equity of 13.35% and a negative net margin of 70.08%. During the same period in the prior year, the firm posted ($0.29) earnings per share. On average, sell-side analysts anticipate that Cryoport will post -0.99 earnings per share for the current fiscal year.

Insider Activity at Cryoport

In other Cryoport news, CEO Jerrell Shelton sold 4,620 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $6.29, for a total value of $29,059.80. Following the completion of the sale, the chief executive officer now owns 765,399 shares in the company, valued at approximately $4,814,359.71. The trade was a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 19,830 shares of company stock valued at $118,353 over the last ninety days. Insiders own 10.10% of the company’s stock.

Institutional Trading of Cryoport

A number of large investors have recently bought and sold shares of the business. Cadian Capital Management LP raised its holdings in shares of Cryoport by 14.1% in the fourth quarter. Cadian Capital Management LP now owns 4,927,027 shares of the company’s stock valued at $38,332,000 after buying an additional 609,021 shares during the last quarter. Millennium Management LLC raised its stake in Cryoport by 11.0% during the 4th quarter. Millennium Management LLC now owns 4,139,869 shares of the company’s stock valued at $32,208,000 after acquiring an additional 409,353 shares during the last quarter. Deutsche Bank AG lifted its position in Cryoport by 0.9% during the 4th quarter. Deutsche Bank AG now owns 1,397,121 shares of the company’s stock worth $10,870,000 after acquiring an additional 12,864 shares during the period. Geode Capital Management LLC grew its stake in shares of Cryoport by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,097,369 shares of the company’s stock valued at $8,902,000 after purchasing an additional 38,520 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Cryoport by 2.8% in the third quarter. State Street Corp now owns 1,003,080 shares of the company’s stock valued at $8,135,000 after purchasing an additional 27,438 shares during the period. Institutional investors and hedge funds 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.