Needham & Company LLC Reiterates Buy Rating for Cryoport (NASDAQ:CYRX)

Needham & Company LLC reaffirmed their buy rating on shares of Cryoport (NASDAQ:CYRX) in a report released on Friday,Benzinga reports. The firm currently has a $11.00 target price on the stock.

CYRX has been the topic of several other reports. Roth Mkm dropped their target price on Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Guggenheim assumed coverage on shares of Cryoport in a report on Thursday, December 19th. They issued a “buy” rating and a $11.00 price objective on the stock. Finally, UBS Group boosted their target price on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.29.

Cryoport Stock Up 0.1 %

NASDAQ:CYRX opened at $7.50 on Friday. The company has a current ratio of 5.70, a quick ratio of 5.32 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $7.68 and a 200-day moving average of $7.85. The firm has a market capitalization of $370.73 million, a PE ratio of -2.22 and a beta of 1.58. Cryoport has a 52 week low of $5.32 and a 52 week high of $20.10.

Insider Transactions at Cryoport

In other Cryoport news, CEO Jerrell Shelton sold 50,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $6.51, for a total transaction of $325,500.00. Following the completion of the transaction, the chief executive officer now directly owns 731,897 shares of the company’s stock, valued at approximately $4,764,649.47. This trade represents a 6.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ramkumar Mandalam sold 7,369 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $7.46, for a total value of $54,972.74. Following the transaction, the director now directly owns 59,497 shares of the company’s stock, valued at approximately $443,847.62. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 109,869 shares of company stock valued at $735,673. Company insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On Cryoport

Several large investors have recently made changes to their positions in CYRX. Thematics Asset Management raised its holdings in shares of Cryoport by 176.2% in the 3rd quarter. Thematics Asset Management now owns 1,705,000 shares of the company’s stock worth $13,828,000 after purchasing an additional 1,087,800 shares in the last quarter. Fred Alger Management LLC grew its position in Cryoport by 49.9% in the third quarter. Fred Alger Management LLC now owns 2,698,768 shares of the company’s stock worth $21,887,000 after buying an additional 898,481 shares during the last quarter. AXA S.A. increased its holdings in shares of Cryoport by 274.2% in the second quarter. AXA S.A. now owns 873,217 shares of the company’s stock valued at $6,034,000 after buying an additional 639,855 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Cryoport during the 3rd quarter valued at $3,405,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Cryoport by 1,464.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 305,237 shares of the company’s stock worth $2,475,000 after acquiring an additional 285,726 shares in 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.