B. Riley initiated coverage on shares of CryoPort (NASDAQ:CYRX) in a report issued on Wednesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $22.00 price target on the consumer goods maker’s stock.
A number of other research firms have also weighed in on CYRX. BidaskClub raised shares of CryoPort from a hold rating to a buy rating in a research report on Tuesday, September 11th. Roth Capital boosted their price objective on shares of CryoPort from $12.50 to $22.00 and gave the company a buy rating in a research report on Friday, June 29th. Needham & Company LLC boosted their price objective on shares of CryoPort from $11.00 to $19.00 and gave the company a buy rating in a research report on Monday, July 2nd. Finally, Cowen boosted their price objective on shares of CryoPort from $11.00 to $16.00 and gave the company an outperform rating in a research report on Monday, August 13th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $19.75.
Shares of NASDAQ CYRX traded down $0.09 on Wednesday, hitting $11.52. The company’s stock had a trading volume of 171,706 shares, compared to its average volume of 277,773. CryoPort has a 12-month low of $6.02 and a 12-month high of $16.88. The company has a market capitalization of $367.59 million, a PE ratio of -33.88 and a beta of 1.11.
CryoPort (NASDAQ:CYRX) last posted its quarterly earnings data on Thursday, August 9th. The consumer goods maker reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The firm had revenue of $4.63 million during the quarter, compared to analyst estimates of $4.36 million. CryoPort had a negative net margin of 62.80% and a negative return on equity of 45.60%. CryoPort’s revenue was up 58.6% compared to the same quarter last year. As a group, equities research analysts expect that CryoPort will post -0.34 earnings per share for the current fiscal year.
In related news, CEO Richard J. Berman sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $12.81, for a total transaction of $256,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard J. Berman sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $14.00, for a total transaction of $140,000.00. The disclosure for this sale can be found here. Insiders own 9.60% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Greenwood Capital Associates LLC acquired a new position in CryoPort during the second quarter worth approximately $163,000. Granahan Investment Management Inc. MA increased its position in CryoPort by 15.8% during the second quarter. Granahan Investment Management Inc. MA now owns 203,343 shares of the consumer goods maker’s stock worth $3,209,000 after purchasing an additional 27,749 shares during the last quarter. Northern Trust Corp increased its position in CryoPort by 24.1% during the first quarter. Northern Trust Corp now owns 60,935 shares of the consumer goods maker’s stock worth $524,000 after purchasing an additional 11,847 shares during the last quarter. Monarch Partners Asset Management LLC increased its position in CryoPort by 39.9% during the second quarter. Monarch Partners Asset Management LLC now owns 40,180 shares of the consumer goods maker’s stock worth $634,000 after purchasing an additional 11,450 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its position in CryoPort by 4.1% during the second quarter. OppenheimerFunds Inc. now owns 426,735 shares of the consumer goods maker’s stock worth $6,734,000 after purchasing an additional 16,904 shares during the last quarter. 48.53% of the stock is owned by hedge funds and other institutional investors.
CryoPort Company Profile
Cryoport, Inc provides cryogenic logistics solutions to the life sciences industry in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoportal, a cloud-based logistics management platform that supports the management of shipments, which includes order entry, document preparation, customs documentation, courier management, real-time shipment tracking, issue resolution, and regulatory compliance requirements; and CryoPort Express Shippers, a dry vapor cryogenic shipper that use liquid nitrogen contained inside a vacuum insulated vessel, which serves as a refrigerant to provide stable storage temperatures.
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