Cryoport, Inc. (NASDAQ:CYRX) Given Average Rating of “Moderate Buy” by Analysts

Cryoport, Inc. (NASDAQ:CYRX) has earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $12.50.

CYRX has been the topic of several recent research reports. Needham & Company LLC reduced their target price on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. UBS Group raised their price objective on Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Jefferies Financial Group lowered Cryoport from a “buy” rating to a “hold” rating and lowered their target price for the company from $20.00 to $8.00 in a research note on Wednesday, August 7th. Roth Mkm reduced their price target on Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, B. Riley upgraded Cryoport from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $19.00 to $15.00 in a research report on Wednesday, July 31st.

Cryoport Trading Down 1.0 %

CYRX stock opened at $7.95 on Friday. The company has a market capitalization of $392.81 million, a PE ratio of -2.35 and a beta of 1.63. The company has a debt-to-equity ratio of 0.97, a quick ratio of 7.99 and a current ratio of 8.38. Cryoport has a one year low of $5.32 and a one year high of $20.10. The company’s 50 day moving average price is $7.69 and its two-hundred day moving average price is $9.09.

Cryoport announced that its Board of Directors has approved a share repurchase program on Tuesday, August 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 49.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Cryoport by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,522 shares of the company’s stock valued at $859,000 after purchasing an additional 1,438 shares in the last quarter. Comerica Bank boosted its position in 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 acquiring an additional 1,469 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Cryoport by 9.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock worth $122,000 after acquiring an additional 1,534 shares during the period. Rhumbline Advisers grew its holdings in shares of Cryoport by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 64,158 shares of the company’s stock worth $443,000 after acquiring an additional 2,086 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cryoport by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 387,714 shares of the company’s stock worth $3,144,000 after acquiring an additional 2,226 shares in the last quarter. 92.90% of the stock is owned by hedge funds and other 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.