Cryoport (NASDAQ:CYRX) Posts Quarterly Earnings Results, Meets Estimates

Cryoport (NASDAQ:CYRXGet Free Report) posted its earnings results on Wednesday. The company reported ($0.31) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.31), Briefing.com reports. Cryoport had a negative return on equity of 8.74% and a negative net margin of 19.73%. The business had revenue of $56.16 million for the quarter, compared to analyst estimates of $55.24 million. During the same period in the previous year, the firm earned ($0.15) EPS. The firm’s revenue was down 7.1% compared to the same quarter last year.

Cryoport Stock Down 2.7 %

Shares of Cryoport stock traded down $0.30 on Friday, reaching $11.00. 209,771 shares of the stock were exchanged, compared to its average volume of 552,819. The company has a debt-to-equity ratio of 0.78, a quick ratio of 13.82 and a current ratio of 14.54. The firm’s 50 day moving average is $12.27 and its 200-day moving average is $15.94. Cryoport has a one year low of $9.00 and a one year high of $26.01.

Insider Activity at Cryoport

In other Cryoport news, insider Jerrell Shelton sold 26,875 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $14.27, for a total transaction of $383,506.25. Following the completion of the sale, the insider now directly owns 632,424 shares in the company, valued at $9,024,690.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is currently owned by insiders.

Institutional Trading of Cryoport

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Cryoport by 4.7% in the first quarter. Vanguard Group Inc. now owns 3,515,305 shares of the company’s stock worth $122,720,000 after acquiring an additional 159,133 shares during the last quarter. BlackRock Inc. boosted its position in Cryoport by 5.6% in the second quarter. BlackRock Inc. now owns 3,347,536 shares of the company’s stock valued at $57,745,000 after buying an additional 178,201 shares in the last quarter. Invesco Ltd. grew its stake in shares of Cryoport by 17.7% during the first quarter. Invesco Ltd. now owns 3,228,313 shares of the company’s stock worth $112,700,000 after buying an additional 485,972 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Cryoport by 4.8% during the fourth quarter. Macquarie Group Ltd. now owns 1,453,700 shares of the company’s stock worth $25,222,000 after buying an additional 66,798 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Cryoport by 1.7% in the 1st quarter. New York State Common Retirement Fund now owns 1,208,681 shares of the company’s stock valued at $29,008,000 after acquiring an additional 19,682 shares during the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CYRX shares. B. Riley dropped their price objective on shares of Cryoport from $30.00 to $22.00 in a research report on Thursday, July 13th. SVB Securities downgraded Cryoport from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $30.00 to $10.00 in a research report on Thursday, July 13th. SVB Leerink cut Cryoport from an “outperform” rating to a “market perform” rating in a report on Thursday, July 13th. Morgan Stanley started coverage on Cryoport in a report on Thursday, August 17th. They issued an “equal weight” rating and a $16.00 price objective on the stock. Finally, UBS Group cut shares of Cryoport from a “buy” rating to a “neutral” rating and reduced their target price for the company from $28.00 to $17.00 in a research report on Tuesday, July 18th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cryoport has an average rating of “Hold” and a consensus price target of $19.88.

Check Out Our Latest Research Report on CYRX

Cryoport Company Profile

(Get Free Report)

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. It operates in two segments: Global Logistics Solutions and Global Bioservices. 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.

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Earnings History for Cryoport (NASDAQ:CYRX)

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