BlackRock Fund Advisors recently announced the acquisition of new stake in Cryoport Inc. (NASDAQ:CYRX). The institutional investor has increased its shareholding in the Industrials company by 11.38% to 2.5 million shares with purchase of 0.26 million shares. This fresh investment now brings its stake to 6.57% valued currently at $82.9 million. In addition, Invesco Advisers, Inc. raised its holdings by 1.23 million to 2.43 million shares. And Chevy Chase Trust Co. has lifted its position by 8.70% or 0.16 million shares – to 2.06 million shares.
With over 1.71 million Cryoport Inc. (CYRX) shares trading Friday and a closing price of $55.50 on the day, the dollar volume was approximately $94.9 million. The shares have shown a positive weekly performance of 42.97% and its price on 08/28/20 gained nearly 3.53%. Currently, there are 38.28M common shares owned by the public and among those 38.27M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for CYRX have a consensus price objective of $48.67. The analysts have set the share’s price value over the next 12 months at a high of $60.00 and a low of $42.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Cryoport Inc. stock is 1.50 for the next 12 months. The average price target is -102.33% below its last price level and a downside to the estimated low will see the stock lose -32.14% over that period. But an upside of 7.5% will see the stock hit the forecast high price target while mean target price for the stock is $47.50.
Insiders at the company have transacted a total of 29 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 270,089 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 168,601 shares.
The top 3 mutual fund holders in Cryoport Inc. are Alger Funds – Small Cap Focus Fun, Janus Henderson Venture Fund, and Vanguard Total Stock Market Index. Alger Funds – Small Cap Focus Fun owns 3.84 million shares of the company’s stock, all valued at over $127.22 million. Janus Henderson Venture Fund sold 10944.0 shares to see its total holdings shrink to 1.17 million shares valued at over $38.77 million and representing 3.07% of the shares outstanding. Vanguard Total Stock Market Index sold 18653.0 shares to bring its total holdings to over 1.09 million shares at a value of $35.96 million. Vanguard Total Stock Market Index now owns shares totaling to 2.85% of the shares outstanding.
Shares of Cryoport Inc. (NASDAQ: CYRX) opened at $53.70, up $0.09 from a prior closing price of $53.61. However, the script later closed the day at $55.50, up 3.53%. The company’s stock has a 5-day price change of 42.97% and 127.27% over the past three months. CYRX shares are trading 237.18% year to date (YTD), with the 12-month market performance up to 158.02% higher. It has a 12-month low price of $12.40 and touched a high of $56.56 over the same period. Currently, 1.71 million shares have been traded, compared to an average intraday trading volume of 709.55K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 54.77%, 65.22%, and 150.74% respectively.
Institutional ownership of Cryoport Inc. (NASDAQ: CYRX) shares accounts for 93.50% of the company’s 38.28M shares outstanding. Mutual fund holders own 38.73%, while other institutional holders and individual stakeholders account for 53.09% and 1.80% respectively.
It has a market capitalization of $2.08B and a beta (3y monthly) value of 1.25. The earnings-per-share (ttm) stands at -$0.63. Price movements for the stock have been influenced by the stock’s volatility, which stands at 14.08% over the week and 7.24% over the month.
Analysts forecast that Cryoport Inc. (CYRX) will achieve an EPS of -$0.12 for the current quarter, -$0.09 for the next quarter and -$0.14 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.15 while analysts give the company a high EPS estimate of -$0.08. Comparatively, EPS for the current quarter was -$0.35 a year ago. Earnings per share for the fiscal year are expected to decrease by -62.10%, and 62.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Cryoport Inc. (CYRX) as a “Strong Buy” at a consensus score of 1.50. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 0 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CYRX, a number of firms have released research notes about the stock. Stephens stated their Overweight rating for the stock in a research note on January 08, 2020, with the firm’s price target at $21. Needham coverage for the Cryoport Inc. (CYRX) stock in a research note released on July 01, 2019 offered a Buy rating with a price target of $22. B. Riley FBR was of a view on October 10, 2018 that the stock is Buy, while Cowen gave the stock Outperform rating on August 13, 2018, issuing a price target of $11- $16. Needham on their part issued Buy rating on July 02, 2018.