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

Posted by Defense World Staff on Apr 25th, 2023

Needham & Company LLC reiterated their buy rating on shares of Cryoport (NASDAQ:CYRX – Get Rating) in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a $30.00 price target on the consumer goods maker’s stock.

Cryoport Trading Down 1.4 %

Shares of NASDAQ:CYRX opened at $22.14 on Friday. The company has a market capitalization of $1.07 billion, a P/E ratio of -23.81 and a beta of 1.34. Cryoport has a 1 year low of $15.63 and a 1 year high of $45.36. The company has a debt-to-equity ratio of 0.76, a current ratio of 14.79 and a quick ratio of 14.11. The business’s 50 day simple moving average is $21.61 and its 200 day simple moving average is $21.17.

Cryoport (NASDAQ:CYRX – Get Rating) last released its earnings results on Thursday, February 23rd. The consumer goods maker reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Cryoport had a negative return on equity of 6.18% and a negative net margin of 15.73%. The business had revenue of $60.36 million for the quarter, compared to the consensus estimate of $58.26 million. During the same quarter in the previous year, the company earned ($1.32) earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts anticipate that Cryoport will post -0.66 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Mark W. Sawicki sold 1,362 shares of Cryoport stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $20.79, for a total value of $28,315.98. Following the completion of the transaction, the insider now directly owns 61,670 shares in the company, valued at approximately $1,282,119.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Mark W. Sawicki sold 1,362 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $20.79, for a total value of $28,315.98. Following the completion of the transaction, the insider now directly owns 61,670 shares in the company, valued at $1,282,119.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark W. Sawicki sold 1,476 shares of the company’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $20.14, for a total transaction of $29,726.64. Following the completion of the transaction, the insider now owns 63,032 shares of the company’s stock, valued at $1,269,464.48. The disclosure for this sale can be found here. Insiders have sold a total of 11,463 shares of company stock valued at $234,134 in the last 90 days. 10.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cryoport

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Cryoport by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 3,515,305 shares of the consumer goods maker’s stock valued at $122,720,000 after purchasing an additional 159,133 shares during the period. Invesco Ltd. grew its stake in shares of Cryoport by 17.7% in the 1st quarter. Invesco Ltd. now owns 3,228,313 shares of the consumer goods maker’s stock worth $112,700,000 after buying an additional 485,972 shares in the last quarter. BlackRock Inc. grew its stake in shares of Cryoport by 2.0% in the 1st quarter. BlackRock Inc. now owns 3,028,269 shares of the consumer goods maker’s stock worth $105,718,000 after buying an additional 59,877 shares in the last quarter. Impax Asset Management Group plc grew its stake in shares of Cryoport by 46.7% in the 4th quarter. Impax Asset Management Group plc now owns 2,484,660 shares of the consumer goods maker’s stock worth $42,784,000 after buying an additional 791,037 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC grew its stake in shares of Cryoport by 7.6% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 1,678,740 shares of the consumer goods maker’s stock worth $40,895,000 after buying an additional 119,250 shares in the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Cryoport Company Profile

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CryoPort, Inc engages in the provision of logistics solutions to the life science industry. It also provides logistics solutions for biologic materials such as immunotherapies, stem cells, CAR-T cells, and reproductive cells for clients worldwide, including points-of-care, clinical research organizations central laboratories, biopharmaceuticals, contract manufacturing, health centers, and university researchers.