Cryoport, Inc. (NASDAQ:CYRX) Receives Average Rating of “Moderate Buy” from Brokerages

Cryoport, Inc. (NASDAQ:CYRX) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $12.50.

CYRX has been the subject of several recent research reports. Roth Mkm reduced their target price on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group lowered shares of Cryoport from a “buy” rating to a “hold” rating and reduced their price objective for the company from $20.00 to $8.00 in a research note on Wednesday, August 7th. UBS Group increased their target price on Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Needham & Company LLC cut their price target on Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, August 7th.

Cryoport Stock Up 9.9 %

CYRX stock opened at $7.78 on Tuesday. Cryoport has a fifty-two week low of $5.32 and a fifty-two week high of $20.10. The stock has a fifty day moving average of $7.36 and a 200-day moving average of $8.35. The company has a market capitalization of $384.57 million, a price-to-earnings ratio of -2.30 and a beta of 1.63. 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 declared that its Board of Directors has approved a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 49.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, CEO Jerrell Shelton sold 50,000 shares of Cryoport stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $6.51, for a total transaction of $325,500.00. Following the completion of the sale, the chief executive officer now owns 731,897 shares of the company’s stock, valued at approximately $4,764,649.47. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 102,500 shares of company stock worth $680,700 in the last three months. Corporate insiders own 10.10% of the company’s stock.

Institutional Trading of Cryoport

Institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank raised its position in shares of Cryoport by 73.0% during the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock valued at $62,000 after buying an additional 1,469 shares in the last quarter. Quest Partners LLC raised its position in Cryoport by 1,083,000.0% during the second quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock valued at $75,000 after purchasing an additional 10,830 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Cryoport during the third quarter worth about $82,000. Hsbc Holdings PLC purchased a new position in shares of Cryoport in the 2nd quarter worth about $92,000. Finally, Intech Investment Management LLC bought a new position in shares of Cryoport during the 3rd quarter valued at about $105,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Cryoport Company Profile

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.