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

B. Riley cut shares of Cryoport (NASDAQ:CYRX) from a buy rating to a neutral rating in a research report sent to investors on Friday morning, MarketBeat.com reports. B. Riley currently has $19.00 price objective on the stock, down from their previous price objective of $22.00.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group initiated 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. Stephens reissued an equal weight rating and issued a $17.00 price objective on shares of Cryoport in a research note on Wednesday, March 13th. Needham & Company LLC cut 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. Finally, UBS Group raised their price target on Cryoport from $14.50 to $17.00 and gave the stock a neutral rating in a research note on Friday, March 15th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to 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 stock opened at $15.95 on Friday. The stock has a 50-day simple moving average of $16.94 and a 200 day simple moving average of $15.15. Cryoport has a fifty-two week low of $9.00 and a fifty-two week high of $24.17. The stock has a market capitalization of $784.10 million, a P/E ratio of -7.25 and a beta of 1.60. The company has a quick ratio of 11.16, a current ratio of 11.73 and a debt-to-equity ratio of 0.82.

Cryoport (NASDAQ:CYRX) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.51) earnings per share 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 company had revenue of $57.26 million during the quarter, compared to analyst estimates of $58.27 million. On average, sell-side analysts expect that Cryoport will post -1.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jerrell Shelton sold 2,631 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $17.54, for a total transaction of $46,147.74. Following the completion of the transaction, the chief executive officer now owns 692,182 shares in the company, valued at approximately $12,140,872.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jerrell Shelton sold 2,631 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $17.54, for a total transaction of $46,147.74. Following the completion of the transaction, the chief executive officer now owns 692,182 shares in the company, valued at approximately $12,140,872.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ramkumar Mandalam sold 3,217 shares of the firm’s stock in a transaction that occurred on 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. Insiders sold 73,940 shares of company stock worth $1,147,538 in the last 90 days. 10.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cryoport

Institutional investors and hedge funds have recently bought and sold shares of the business. Natixis Investment Managers International boosted its stake in Cryoport by 61.5% in the fourth quarter. Natixis Investment Managers International now owns 4,536 shares of the company’s stock worth $70,000 after purchasing an additional 1,727 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 buying an additional 1,395 shares during the period. WINTON GROUP Ltd acquired a new position in Cryoport in the third quarter valued at about $163,000. Pathstone Family Office LLC acquired a new stake in shares of Cryoport during the third quarter worth about $165,000. Finally, Quantbot Technologies LP grew its position in shares of Cryoport by 109.0% in the 3rd quarter. Quantbot Technologies LP now owns 12,838 shares of the company’s stock valued at $176,000 after purchasing an additional 6,694 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

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.