Cryoport (NASDAQ:CYRX) Downgraded by B. Riley

B. Riley cut shares of Cryoport (NASDAQ:CYRX) from a buy rating to a neutral rating in a research note published on Friday, Marketbeat reports. The brokerage currently has $19.00 target price on the stock, down from their previous target price of $22.00.

Several other brokerages have also weighed in on CYRX. Needham & Company LLC lowered their target price on shares of Cryoport from $19.00 to $18.00 and set a buy rating for the company in a research note on Wednesday, March 13th. Jefferies Financial Group initiated coverage on shares of Cryoport in a report on Thursday, April 4th. They issued a buy rating and a $21.00 target price on the stock. Stephens reaffirmed an equal weight rating and issued a $17.00 target price on shares of Cryoport in a report on Wednesday, March 13th. Finally, UBS Group raised their price objective on shares of Cryoport from $14.50 to $17.00 and gave the stock a neutral rating in a report on Friday, March 15th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Cryoport currently has an average rating of Hold and an average target price of $18.25.

Cryoport Trading Down 7.1 %

Shares of CYRX opened at $15.95 on Friday. The company has a current ratio of 11.73, a quick ratio of 11.16 and a debt-to-equity ratio of 0.82. Cryoport has a 12-month low of $9.00 and a 12-month high of $24.17. The firm has a 50-day moving average price of $16.94 and a 200 day moving average price of $15.15. The firm has a market capitalization of $784.10 million, a P/E ratio of -7.25 and a beta of 1.60.

Cryoport (NASDAQ:CYRX) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.19). Cryoport had a negative net margin of 42.69% and a negative return on equity of 11.86%. The firm had revenue of $57.26 million during the quarter, compared to analysts’ expectations of $58.27 million. Sell-side analysts forecast that Cryoport will post -1.42 EPS for the current year.

Insider Transactions at Cryoport

In related news, Director Ramkumar Mandalam sold 3,217 shares of Cryoport stock in a transaction 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 transaction, the director now directly owns 43,187 shares in the company, valued at approximately $633,985.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Ramkumar Mandalam sold 3,217 shares of Cryoport stock in a transaction 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 transaction, the director now directly owns 43,187 shares in the company, valued at approximately $633,985.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $60,871.05. Following the completion of the transaction, the chief executive officer now owns 636,951 shares in the company, valued at $10,414,148.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,940 shares of company stock worth $1,147,538. Insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On Cryoport

Several institutional investors have recently made changes to their positions in CYRX. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cryoport by 13.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,462 shares of the company’s stock worth $157,000 after purchasing an additional 1,395 shares in the last quarter. Roubaix Capital LLC boosted its position in shares of Cryoport by 12.3% during the 3rd quarter. Roubaix Capital LLC now owns 150,129 shares of the company’s stock worth $2,058,000 after purchasing an additional 16,428 shares in the last quarter. Skylands Capital LLC boosted its position in shares of Cryoport by 23.7% during the 3rd quarter. Skylands Capital LLC now owns 84,950 shares of the company’s stock worth $1,165,000 after purchasing an additional 16,300 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Cryoport during the 3rd quarter worth $3,250,000. Finally, Quantbot Technologies LP boosted its position in shares of 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 in the last quarter. 92.90% of the stock is currently 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.