Cryoport’s (CYRX) Buy Rating Reaffirmed at Needham & Company LLC

Cryoport (NASDAQ:CYRX)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports. They presently have a $11.00 price objective on the stock. Needham & Company LLC’s price objective points to a potential upside of 46.67% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. UBS Group lifted their target price on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Roth Mkm lowered their target price on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Guggenheim initiated coverage on Cryoport in a research note on Thursday, December 19th. They set a “buy” rating and a $11.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.29.

Cryoport Stock Performance

Shares of CYRX opened at $7.50 on Friday. Cryoport has a one year low of $5.32 and a one year high of $20.10. The stock has a market cap of $370.73 million, a P/E ratio of -2.22 and a beta of 1.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70. The stock has a 50-day moving average of $7.68 and a two-hundred day moving average of $7.86.

Insider Buying and Selling at Cryoport

In other news, Director Ramkumar Mandalam sold 7,369 shares of the business’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 in the company, valued at approximately $443,847.62. The trade was a 11.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jerrell Shelton sold 50,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $6.51, for a total value 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,869 shares of company stock valued at $735,673. Corporate insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On Cryoport

Several institutional investors and hedge funds have recently made changes to their positions in CYRX. Avanza Fonder AB bought a new stake in Cryoport in the fourth quarter valued at $64,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cryoport during the third quarter valued at approximately $82,000. Hsbc Holdings PLC acquired a new position in Cryoport in the second quarter worth approximately $92,000. Intech Investment Management LLC bought a new stake in Cryoport in the third quarter worth approximately $105,000. Finally, The Manufacturers Life Insurance Company increased its position in Cryoport by 9.5% during the second quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock worth $122,000 after buying an additional 1,534 shares during the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

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.