Cryoport (NASDAQ:CYRX) Shares Gap Up to $16.06

Shares of Cryoport, Inc. (NASDAQ:CYRX) gapped up before the market opened on Tuesday . The stock had previously closed at $16.06, but opened at $16.50. Cryoport shares last traded at $16.79, with a volume of 25,931 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CYRX. Needham & Company LLC lowered their target price on shares of Cryoport from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. UBS Group upped their target price on shares of Cryoport from $14.50 to $17.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Jefferies Financial Group started coverage on Cryoport in a research report on Thursday, April 4th. They set a “buy” rating and a $21.00 price objective on the stock. Finally, Stephens restated an “equal weight” rating and set a $17.00 price target on shares of Cryoport in a report on Wednesday, March 13th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Cryoport currently has an average rating of “Hold” and a consensus target price of $18.63.

Cryoport Price Performance

The firm has a fifty day moving average price of $16.83 and a 200 day moving average price of $14.89. The company has a current ratio of 11.73, a quick ratio of 11.16 and a debt-to-equity ratio of 0.82.

Cryoport (NASDAQ:CYRX) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.19). The firm had revenue of $57.26 million during the quarter, compared to analyst estimates of $58.27 million. Cryoport had a negative return on equity of 11.86% and a negative net margin of 42.69%. On average, research analysts anticipate that Cryoport, Inc. will post -1.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jerrell Shelton sold 2,631 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $17.54, for a total value of $46,147.74. Following the completion of the sale, the chief executive officer now directly owns 692,182 shares of the company’s stock, valued at $12,140,872.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cryoport news, CEO Jerrell Shelton sold 2,631 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $17.54, for a total value of $46,147.74. Following the transaction, the chief executive officer now owns 692,182 shares in the company, valued at $12,140,872.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ramkumar Mandalam sold 3,217 shares of Cryoport stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $14.68, for a total value of $47,225.56. Following the sale, the director now owns 43,187 shares of the company’s stock, valued at $633,985.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,940 shares of company stock worth $1,147,538. 10.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cryoport

Several institutional investors have recently bought and sold shares of CYRX. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Cryoport by 13.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,462 shares of the company’s stock valued at $157,000 after acquiring an additional 1,395 shares in the last quarter. Roubaix Capital LLC raised its position in shares of Cryoport by 12.3% in the third quarter. Roubaix Capital LLC now owns 150,129 shares of the company’s stock valued at $2,058,000 after purchasing an additional 16,428 shares during the period. Skylands Capital LLC lifted its stake in shares of Cryoport by 23.7% in the third quarter. Skylands Capital LLC now owns 84,950 shares of the company’s stock worth $1,165,000 after buying an additional 16,300 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Cryoport during the 3rd quarter worth $3,250,000. Finally, Quantbot Technologies LP grew its stake in Cryoport by 109.0% in the 3rd quarter. Quantbot Technologies LP now owns 12,838 shares of the company’s stock valued at $176,000 after buying an additional 6,694 shares during the last quarter. 92.90% of the stock is currently 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.