Cryoport (NASDAQ:CYRX) Posts Earnings Results, Misses Estimates By $0.08 EPS

Posted by Martin Roberts on Aug 5th, 2022

Cryoport (NASDAQ:CYRX – Get Rating) released its quarterly earnings results on Thursday. The consumer goods maker reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08), Briefing.com reports. Cryoport had a negative net margin of 128.78% and a negative return on equity of 13.79%. The firm had revenue of $64.20 million for the quarter, compared to the consensus estimate of $64.58 million. During the same period in the previous year, the business earned ($0.16) earnings per share. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. Cryoport updated its FY 2022 guidance to EPS.

Cryoport Stock Performance

Shares of CYRX traded up $2.47 during trading hours on Friday, hitting $39.40. The company’s stock had a trading volume of 482,255 shares, compared to its average volume of 522,867. The business has a 50 day simple moving average of $30.98 and a two-hundred day simple moving average of $31.47. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -6.45 and a beta of 1.13. Cryoport has a 52-week low of $19.82 and a 52-week high of $86.30. The company has a debt-to-equity ratio of 0.68, a current ratio of 14.98 and a quick ratio of 14.48.

Analyst Ratings Changes

A number of research analysts recently weighed in on CYRX shares. BTIG Research dropped their price target on shares of Cryoport from $95.00 to $60.00 in a research report on Friday, May 6th. B. Riley decreased their price objective on shares of Cryoport from $61.00 to $55.00 in a report on Tuesday, May 17th. Roth Capital decreased their price objective on shares of Cryoport from $90.00 to $67.00 in a report on Tuesday, May 3rd. KeyCorp decreased their price objective on shares of Cryoport from $92.00 to $52.00 in a report on Friday, May 6th. Finally, Needham & Company LLC raised their price objective on shares of Cryoport from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, July 12th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $61.33.

Hedge Funds Weigh In On Cryoport

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its stake in Cryoport by 50.3% during the first quarter. PNC Financial Services Group Inc. now owns 8,053 shares of the consumer goods maker’s stock valued at $280,000 after acquiring an additional 2,696 shares in the last quarter. AlphaCrest Capital Management LLC lifted its position in Cryoport by 64.3% during the first quarter. AlphaCrest Capital Management LLC now owns 11,007 shares of the consumer goods maker’s stock valued at $384,000 after purchasing an additional 4,307 shares during the last quarter. Graham Capital Management L.P. bought a new stake in Cryoport during the first quarter valued at approximately $537,000. MetLife Investment Management LLC lifted its position in Cryoport by 59.9% during the first quarter. MetLife Investment Management LLC now owns 21,874 shares of the consumer goods maker’s stock valued at $764,000 after purchasing an additional 8,194 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in Cryoport by 331.0% during the first quarter. Quantbot Technologies LP now owns 23,560 shares of the consumer goods maker’s stock valued at $822,000 after purchasing an additional 18,094 shares during the last quarter.

About Cryoport

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Cryoport, Inc, a life sciences services company, provides temperature-controlled logistics solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoportal, a cloud-based logistics management platform that supports the management of shipments, which includes order entry, document preparation, customs documentation, courier management, real-time shipment tracking and monitoring, issue resolution, and regulatory compliance requirements; and CryoPort Express Shippers, which is used to ensure that the stability of shipped biologic commodities is maintained throughout the shipping cycle.