Brokerages Set Cryoport, Inc. (NASDAQ:CYRX) Price Target at $12.29

Shares of Cryoport, Inc. (NASDAQ:CYRX) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $12.29.

Several equities analysts recently issued reports on the company. Roth Mkm reduced their price objective on Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. UBS Group raised their price target on shares of Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Guggenheim began coverage on shares of Cryoport in a research report on Thursday, December 19th. They set a “buy” rating and a $11.00 price objective for the company.

Cryoport Trading Down 0.9 %

Shares of NASDAQ CYRX opened at $7.78 on Friday. The stock has a market capitalization of $384.57 million, a P/E ratio of -2.30 and a beta of 1.62. The stock’s 50 day moving average price is $7.49 and its two-hundred day moving average price is $7.85. The company has a quick ratio of 5.32, a current ratio of 5.70 and a debt-to-equity ratio of 0.48. Cryoport has a 52-week low of $5.32 and a 52-week high of $20.10.

Insider Transactions at Cryoport

In other news, CEO Jerrell Shelton sold 50,000 shares of Cryoport stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $6.78, for a total value of $339,000.00. Following the transaction, the chief executive officer now directly owns 712,747 shares in the company, valued at approximately $4,832,424.66. The trade was a 6.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ramkumar Mandalam sold 7,369 shares of Cryoport stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $7.46, for a total value of $54,972.74. Following the completion of the transaction, the director now directly owns 59,497 shares in the company, valued at approximately $443,847.62. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,869 shares of company stock worth $735,673 in the last 90 days. 10.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Cryoport

A number of hedge funds have recently made changes to their positions in the business. AXA S.A. grew its holdings in shares of Cryoport by 274.2% in the 2nd quarter. AXA S.A. now owns 873,217 shares of the company’s stock worth $6,034,000 after purchasing an additional 639,855 shares during the last quarter. Federated Hermes Inc. bought a new stake in Cryoport during the second quarter worth about $774,000. Point72 Asset Management L.P. acquired a new stake in shares of Cryoport during the third quarter worth approximately $3,405,000. Bullseye Asset Management LLC raised its stake in shares of Cryoport by 58.7% in the third quarter. Bullseye Asset Management LLC now owns 214,264 shares of the company’s stock valued at $1,737,000 after acquiring an additional 79,244 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Cryoport in the 3rd quarter worth approximately $105,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

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.