Guggenheim Begins Coverage on Cryoport (NASDAQ:CYRX)

Guggenheim began coverage on shares of Cryoport (NASDAQ:CYRX) in a research report released on Thursday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $11.00 price objective on the stock.

Several other brokerages have also recently issued reports on CYRX. UBS Group upped their target price on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Roth Mkm lowered their price objective on Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Cryoport currently has an average rating of “Moderate Buy” and a consensus target price of $12.29.

Cryoport Trading Up 1.6 %

Shares of CYRX opened at $7.86 on Thursday. The stock has a market capitalization of $388.53 million, a PE ratio of -2.33 and a beta of 1.62. The company’s fifty day moving average is $7.39 and its 200 day moving average is $8.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70. Cryoport has a fifty-two week low of $5.32 and a fifty-two week high of $20.10.

Insider Activity

In related news, Director Ramkumar Mandalam sold 7,369 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $7.46, for a total transaction of $54,972.74. Following the completion of the transaction, the director now owns 59,497 shares in the company, valued at $443,847.62. The trade was a 11.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jerrell Shelton sold 50,000 shares of Cryoport stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $6.51, for a total value of $325,500.00. Following the sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,869 shares of company stock valued at $735,673. 10.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cryoport

A number of hedge funds have recently added to or reduced their stakes in CYRX. Fred Alger Management LLC boosted its holdings in shares of Cryoport by 49.9% in the third quarter. Fred Alger Management LLC now owns 2,698,768 shares of the company’s stock valued at $21,887,000 after purchasing an additional 898,481 shares during the period. Massachusetts Financial Services Co. MA raised its position in 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 in the last quarter. Thematics Asset Management lifted 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 buying an additional 1,087,800 shares during the period. Geode Capital Management LLC grew its position in shares of Cryoport by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,097,369 shares of the company’s stock worth $8,902,000 after buying an additional 38,520 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Cryoport by 2.8% during the third quarter. State Street Corp now owns 1,003,080 shares of the company’s stock valued at $8,135,000 after buying an additional 27,438 shares during the period. 92.90% of the stock is currently owned by institutional investors.

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.