CryoPort (NASDAQ:CYRX) Hits New 52-Week High – Should You Buy?

CryoPort, Inc. (NASDAQ:CYRX)’s share price hit a new 52-week high on Monday . The company traded as high as $17.50 and last traded at $17.12, with a volume of 22232 shares trading hands. The stock had previously closed at $17.02.

Wall Street Analysts Forecast Growth

CYRX has been the topic of several recent research reports. Needham & Company LLC boosted their target price on CryoPort from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, August 7th. BTIG Research reiterated a “buy” rating and set a $25.00 price target on shares of CryoPort in a research report on Friday, September 18th. Jefferies Financial Group set a $13.50 price objective on CryoPort in a research note on Monday, June 8th. Craig Hallum upped their target price on shares of CryoPort from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Finally, Guggenheim increased their price target on CryoPort from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

CryoPort Stock Performance

The company has a 50-day simple moving average of $15.85 and a 200-day simple moving average of $13.49. The company has a market cap of $889.92 million, a price-to-earnings ratio of -19.52 and a beta of 1.89.

CryoPort (NASDAQ:CYRX) last released its earnings results on Thursday, August 6th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The business had revenue of $48.97 million during the quarter, compared to analyst estimates of $48.18 million. CryoPort had a negative net margin of 20.05% and a negative return on equity of 7.20%. As a group, equities research analysts forecast that CryoPort, Inc. will post -0.83 EPS for the current year.

Insider Activity at CryoPort

In related news, CEO Jerrell Shelton sold 28,800 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $14.91, for a total value of $429,408.00. Following the completion of the sale, the chief executive officer owned 1,201,814 shares in the company, valued at $17,919,046.74. This trade represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On CryoPort

Several institutional investors have recently modified their holdings of CYRX. Engineers Gate Manager LP purchased a new position in CryoPort in the 2nd quarter valued at approximately $518,000. Squarepoint Ops LLC boosted its position in CryoPort by 685.1% during the second quarter. Squarepoint Ops LLC now owns 368,424 shares of the company’s stock worth $5,784,000 after purchasing an additional 321,497 shares in the last quarter. Highland Investment Advisors LLC acquired a new stake in CryoPort in the second quarter valued at $306,000. Kerrisdale Advisers LLC acquired a new stake in CryoPort in the second quarter valued at $355,000. Finally, Headlands Technologies LLC increased its position in shares of CryoPort by 14.5% in the second quarter. Headlands Technologies LLC now owns 38,742 shares of the company’s stock valued at $608,000 after buying an additional 4,906 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

CryoPort Company Profile

Cryoport, Inc (NASDAQ: CYRX) provides temperature-controlled logistics and supply-chain solutions for the life sciences industry. The company supports the transportation, storage and management of sensitive biological materials, including cell and gene therapies, biologics, vaccines, clinical-trial materials and reproductive tissues.

Its offerings include specialized cryogenic and refrigerated shipping systems, monitoring and tracking technologies, logistics coordination, packaging and storage services, and related bioservices.