Cryoport initiated with a Buy at Guggenheim

Guggenheim analyst Subbu Nambi initiated coverage of Cryoport (CYRX) with a Buy rating and $11 price target Cryoport is a key logistics service provider to new modality companies and while the firm expects new modality demand to lag monoclonal antibodies in the near term, it believes this is “more than adequately captured at this valuation” and views the risk/reward as attractive, the analyst tells investors.