Cryoport (NASDAQ:CYRX) Coverage Initiated by Analysts at Guggenheim

Analysts at Guggenheim began coverage on shares of Cryoport (NASDAQ:CYRX) in a report released on Thursday, Marketbeat reports. The firm set a “buy” rating and a $11.00 price target on the stock. Guggenheim’s price objective points to a potential upside of 41.21% from the stock’s previous close.

CYRX has been the topic of several other research reports. Roth Mkm cut their target price on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, November 8th. UBS Group increased their price target on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Cryoport currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.29.

Cryoport Stock Down 4.3 %

CYRX opened at $7.79 on Thursday. The business’s 50-day moving average price is $7.33 and its 200-day moving average price is $8.04. 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 $5.32 and a 12 month high of $20.10. The company has a market cap of $385.07 million, a P/E ratio of -2.30 and a beta of 1.62.

Insider Activity at Cryoport

In related news, CEO Jerrell Shelton sold 50,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $6.51, for a total transaction of $325,500.00. Following the transaction, the chief executive officer now owns 731,897 shares in the company, valued at $4,764,649.47. The trade was a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ramkumar Mandalam sold 7,369 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $7.46, for a total transaction of $54,972.74. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 109,869 shares of company stock worth $735,673 over the last quarter. 10.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cryoport

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in shares of Cryoport by 5.5% during the 3rd quarter. Franklin Resources Inc. now owns 385,619 shares of the company’s stock valued at $3,127,000 after buying an additional 20,077 shares in the last quarter. Barclays PLC increased its position in shares of Cryoport by 272.9% during the third quarter. Barclays PLC now owns 81,417 shares of the company’s stock valued at $660,000 after acquiring an additional 59,582 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Cryoport by 3.6% during 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 period. Bullseye Asset Management LLC increased its position in shares of Cryoport by 58.7% during the 3rd quarter. Bullseye Asset Management LLC now owns 214,264 shares of the company’s stock valued at $1,737,000 after purchasing an additional 79,244 shares during the last quarter. Finally, State Street Corp increased its position in shares of Cryoport by 2.8% during the 3rd 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 last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

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.