Cryoport, Inc. (NASDAQ:CYRX) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc lessened its holdings in shares of Cryoport, Inc. (NASDAQ:CYRX) by 89.2% in the 3rd quarter, Holdings Channel reports. The fund owned 237,375 shares of the company’s stock after selling 1,957,008 shares during the quarter. Impax Asset Management Group plc’s holdings in Cryoport were worth $1,925,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Cryoport by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,035,586 shares of the company’s stock worth $14,066,000 after purchasing an additional 52,103 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Cryoport by 52.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,477,693 shares of the company’s stock worth $10,211,000 after purchasing an additional 511,064 shares during the last quarter. AXA S.A. raised its stake in Cryoport by 274.2% during the second quarter. AXA S.A. now owns 873,217 shares of the company’s stock worth $6,034,000 after purchasing an additional 639,855 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Cryoport in the 1st quarter valued at about $7,800,000. Finally, Silvercrest Asset Management Group LLC boosted its holdings in Cryoport by 4.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 417,031 shares of the company’s stock valued at $7,381,000 after purchasing an additional 18,088 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Cryoport Stock Performance

NASDAQ CYRX opened at $6.99 on Friday. The company has a market cap of $345.52 million, a P/E ratio of -2.07 and a beta of 1.63. Cryoport, Inc. has a 1-year low of $5.32 and a 1-year high of $20.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32. The stock has a 50-day moving average of $7.63 and a two-hundred day moving average of $8.95.

Cryoport announced that its board has initiated a share buyback program on Tuesday, August 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 49.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CYRX. Jefferies Financial Group lowered shares of Cryoport from a “buy” rating to a “hold” rating and reduced their price target for the company from $20.00 to $8.00 in a research report on Wednesday, August 7th. Needham & Company LLC decreased their price target on Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Roth Mkm cut their price objective on Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, November 8th. B. Riley raised shares of Cryoport from a “neutral” rating to a “buy” rating and decreased their target price for the company from $19.00 to $15.00 in a research report on Wednesday, July 31st. Finally, UBS Group lifted their price target on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.50.

About Cryoport

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.