UBS Group Cuts Cryoport (NASDAQ:CYRX) Price Target to $7.00

Cryoport (NASDAQ:CYRX) had its price target cut by UBS Group from $17.00 to $7.00 in a research note released on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently weighed in on CYRX. Jefferies Financial Group cut Cryoport from a buy rating to a hold rating and cut their price objective for the company from $20.00 to $8.00 in a research report on Wednesday. Needham & Company LLC dropped their price target on Cryoport from $18.00 to $11.00 and set a buy rating on the stock in a research report on Wednesday. Finally, B. Riley raised Cryoport from a neutral rating to a buy rating and dropped their price target for the stock from $19.00 to $15.00 in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cryoport has a consensus rating of Hold and an average target price of $14.57.

Cryoport Stock Up 0.9 %

Cryoport stock traded up $0.07 during trading hours on Wednesday, hitting $8.23. 902,042 shares of the stock traded hands, compared to its average volume of 613,132. The firm’s 50-day moving average price is $8.47 and its two-hundred day moving average price is $13.14. The company has a current ratio of 10.73, a quick ratio of 10.22 and a debt-to-equity ratio of 0.86. The company has a market cap of $405.39 million, a PE ratio of -3.33 and a beta of 1.59. Cryoport has a one year low of $5.32 and a one year high of $20.10.

Cryoport (NASDAQ:CYRX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($1.62) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($1.25). The firm had revenue of $57.60 million for the quarter, compared to the consensus estimate of $57.65 million. Cryoport had a negative net margin of 50.17% and a negative return on equity of 15.19%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.42) earnings per share. On average, research analysts forecast that Cryoport will post -1.39 EPS for the current year.

Insider Buying and Selling at Cryoport

In other Cryoport news, insider Edward J. Zecchini sold 3,443 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $13.37, for a total transaction of $46,032.91. Following the completion of the sale, the insider now directly owns 60,051 shares in the company, valued at approximately $802,881.87. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Ramkumar Mandalam sold 4,167 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $8.04, for a total value of $33,502.68. Following the completion of the transaction, the director now owns 56,032 shares of the company’s stock, valued at approximately $450,497.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zecchini sold 3,443 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $13.37, for a total transaction of $46,032.91. Following the completion of the transaction, the insider now directly owns 60,051 shares of the company’s stock, valued at approximately $802,881.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,715 shares of company stock worth $188,224. Insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Connors Investor Services Inc. boosted its holdings in shares of Cryoport by 26.3% during the 2nd quarter. Connors Investor Services Inc. now owns 175,588 shares of the company’s stock valued at $1,213,000 after purchasing an additional 36,512 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Cryoport by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,035,586 shares of the company’s stock valued at $14,066,000 after purchasing an additional 52,103 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of Cryoport during the 2nd quarter valued at about $774,000. NRI Wealth Management LC bought a new position in shares of Cryoport during the 2nd quarter valued at about $132,000. Finally, Quest Partners LLC boosted its holdings in shares of Cryoport by 1,083,000.0% during the 2nd quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock valued at $75,000 after purchasing an additional 10,830 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

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.