Cryoport (NASDAQ:CYRX) Lowered to Neutral at B. Riley

Cryoport (NASDAQ:CYRX) was downgraded by research analysts at B. Riley from a “buy” rating to a “neutral” rating in a research report issued on Friday, Briefing.com reports. They currently have a $19.00 price objective on the stock, down from their previous price objective of $22.00. B. Riley’s price target would suggest a potential upside of 10.72% from the company’s current price.

A number of other equities research analysts also recently commented on CYRX. Stephens reissued an “equal weight” rating and issued a $17.00 price objective on shares of Cryoport in a research report on Wednesday, March 13th. Needham & Company LLC dropped their price target on Cryoport from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. UBS Group lifted their price objective on Cryoport from $14.50 to $17.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, Jefferies Financial Group started coverage on shares of Cryoport in a research note on Thursday, April 4th. They set a “buy” rating and a $21.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.25.

Cryoport Price Performance

Shares of NASDAQ CYRX opened at $17.16 on Friday. Cryoport has a fifty-two week low of $9.00 and a fifty-two week high of $24.17. The company has a debt-to-equity ratio of 0.82, a quick ratio of 11.16 and a current ratio of 11.73. The company has a market cap of $843.59 million, a PE ratio of -7.80 and a beta of 1.60. The business has a 50-day simple moving average of $16.94 and a two-hundred day simple moving average of $15.08.

Cryoport (NASDAQ:CYRX) last issued its earnings results on Tuesday, March 12th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.19). The firm had revenue of $57.26 million during the quarter, compared to analysts’ expectations of $58.27 million. Cryoport had a negative net margin of 42.69% and a negative return on equity of 11.86%. As a group, equities analysts expect that Cryoport will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling at Cryoport

In other news, CEO Jerrell Shelton sold 3,723 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $16.35, for a total value of $60,871.05. Following the sale, the chief executive officer now directly owns 636,951 shares in the company, valued at $10,414,148.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cryoport news, CEO Jerrell Shelton sold 3,723 shares of Cryoport stock in a transaction on Monday, March 11th. The shares were sold at an average price of $16.35, for a total value of $60,871.05. Following the sale, the chief executive officer now directly owns 636,951 shares in the company, valued at approximately $10,414,148.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ramkumar Mandalam sold 3,217 shares of Cryoport stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $14.68, for a total value of $47,225.56. Following the transaction, the director now owns 43,187 shares of the company’s stock, valued at approximately $633,985.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,940 shares of company stock valued at $1,147,538. 10.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CYRX. Nordea Investment Management AB bought a new stake in shares of Cryoport during the third quarter valued at approximately $1,153,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Cryoport by 285.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 77,409 shares of the company’s stock worth $1,061,000 after purchasing an additional 57,348 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Cryoport in the 3rd quarter worth approximately $3,250,000. Invesco Ltd. grew its position in Cryoport by 17.9% during the third quarter. Invesco Ltd. now owns 2,062,481 shares of the company’s stock worth $28,277,000 after buying an additional 313,853 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Cryoport by 28.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,356,500 shares of the company’s stock worth $18,598,000 after purchasing an additional 298,995 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Cryoport Company Profile

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.