Cryoport (NASDAQ:CYRX) Stock Rating Lowered by B. Riley

Cryoport (NASDAQ:CYRX) was downgraded by analysts at B. Riley from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. They currently have a $19.00 price target on the stock, down from their previous price target of $22.00. B. Riley’s price objective suggests a potential upside of 19.12% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Stephens reaffirmed an “equal weight” rating and set a $17.00 target price on shares of Cryoport in a research note on Wednesday, March 13th. UBS Group upped their price objective on shares of Cryoport from $14.50 to $17.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Needham & Company LLC decreased their target price on shares of Cryoport from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Finally, Jefferies Financial Group started coverage on Cryoport in a research report on Thursday, April 4th. They issued a “buy” rating and a $21.00 price target 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.25.

Cryoport Trading Down 7.1 %

Shares of NASDAQ:CYRX opened at $15.95 on Friday. The business’s 50 day moving average price is $16.94 and its 200-day moving average price is $15.13. Cryoport has a 1 year low of $9.00 and a 1 year high of $24.17. The firm has a market capitalization of $784.10 million, a price-to-earnings ratio of -7.25 and a beta of 1.60. The company has a debt-to-equity ratio of 0.82, a current ratio of 11.73 and a quick ratio of 11.16.

Cryoport (NASDAQ:CYRX) last released its earnings results on Tuesday, March 12th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate 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%. On average, equities research analysts forecast that Cryoport will post -1.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ramkumar Mandalam sold 3,217 shares of Cryoport stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $14.68, for a total value of $47,225.56. Following the completion of the sale, the director now owns 43,187 shares in the company, valued at approximately $633,985.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ramkumar Mandalam sold 3,217 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $14.68, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jerrell Shelton sold 3,723 shares of Cryoport stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $16.35, for a total value of $60,871.05. Following the completion of the transaction, the chief executive officer now directly owns 636,951 shares of the company’s stock, valued at $10,414,148.85. The disclosure for this sale can be found here. Insiders sold a total of 73,940 shares of company stock valued at $1,147,538 over the last 90 days. 10.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cryoport

Several large investors have recently added to or reduced their stakes in CYRX. Natixis Investment Managers International boosted its position in Cryoport by 61.5% in the 4th quarter. Natixis Investment Managers International now owns 4,536 shares of the company’s stock valued at $70,000 after buying an additional 1,727 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cryoport by 13.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,462 shares of the company’s stock valued at $157,000 after purchasing an additional 1,395 shares during the period. WINTON GROUP Ltd acquired a new position in Cryoport during the 3rd quarter worth $163,000. Pathstone Family Office LLC purchased a new stake in Cryoport during the 3rd quarter worth about $165,000. Finally, Quantbot Technologies LP increased its holdings in Cryoport by 109.0% during the 3rd quarter. Quantbot Technologies LP now owns 12,838 shares of the company’s stock worth $176,000 after purchasing an additional 6,694 shares during the period. 92.90% of the stock is owned by hedge funds and other institutional investors.

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.