Cryoport jumps as UBS upgrades rating to 'buy'

Cryoport's CYRX.O shares jump 23.2% to $7

CYRX provides supply chain solutions for life sciences companies

Brokerage UBS upgrades CYRX's rating to "buy" from "neutral"

Headwinds in CYRX's MVE subsidiary and broader biopharma market weakness have depressed sales, but these challenges are well understood, appear to be stabilizing, and provide an attractive entry point - UBS

Expect Cryoport to achieve positive free cash flow by 2027, brokerage says

Scaling cell and gene therapy service offerings provide a credible pathway to low-double-digit+ (~10+) mid-long term sales growth and positive free cash flow - UBS

As of last close, CYRX had fallen ~27% YTD