Cryoport, Inc. (NASDAQ:CYRX) Receives $12.29 Average Price Target from Brokerages

Cryoport, Inc. (NASDAQ:CYRX) has earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $12.29.

A number of analysts have recently issued reports on the stock. Guggenheim assumed coverage on shares of Cryoport in a research report on Thursday, December 19th. They issued a “buy” rating and a $11.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Cryoport in a research report on Friday, January 17th. Finally, Roth Mkm cut their price objective on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 8th.

Insider Activity at Cryoport

In other news, Director Ramkumar Mandalam sold 7,369 shares of Cryoport stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $7.46, for a total value of $54,972.74. Following the transaction, the director now owns 59,497 shares of the company’s stock, valued at $443,847.62. This trade represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On Cryoport

A number of institutional investors have recently modified their holdings of the company. Cadian Capital Management LP raised its position 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 purchasing an additional 609,021 shares during the period. Millennium Management LLC raised its position in shares of Cryoport by 11.0% in the fourth quarter. Millennium Management LLC now owns 4,139,869 shares of the company’s stock valued at $32,208,000 after purchasing an additional 409,353 shares during the period. Fred Alger Management LLC raised its position in shares of Cryoport by 49.9% in the third 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 during the period. Thematics Asset Management raised its position in shares of Cryoport by 176.2% in the third quarter. Thematics Asset Management now owns 1,705,000 shares of the company’s stock valued at $13,828,000 after purchasing an additional 1,087,800 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Cryoport by 0.9% in the fourth quarter. Deutsche Bank AG now owns 1,397,121 shares of the company’s stock valued at $10,870,000 after purchasing an additional 12,864 shares during the period. Institutional investors own 92.90% of the company’s stock.

Cryoport Price Performance

NASDAQ CYRX opened at $6.22 on Friday. The company has a 50 day simple moving average of $7.64 and a 200-day simple moving average of $7.76. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32. The firm has a market capitalization of $307.45 million, a price-to-earnings ratio of -1.84 and a beta of 1.59. Cryoport has a 52-week low of $5.32 and a 52-week high of $20.10.

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.