Cryoport (NASDAQ:CYRX) Issues Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Cryoport (NASDAQ:CYRX) released its earnings results on Tuesday. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.06), Briefing.com reports. Cryoport had a negative net margin of 42.69% and a negative return on equity of 11.86%. The business had revenue of $54.59 million for the quarter, compared to the consensus estimate of $58.78 million. During the same quarter in the previous year, the firm earned ($0.16) EPS. The firm’s revenue for the quarter was down 13.1% on a year-over-year basis.

Cryoport Stock Up 2.0 %

Shares of Cryoport stock opened at $13.46 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 1 year low of $9.00 and a 1 year high of $23.50. The stock has a 50-day moving average price of $16.78 and a 200 day moving average price of $15.19. The company has a market cap of $661.75 million, a P/E ratio of -6.12 and a beta of 1.60.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CYRX. B. Riley lowered shares of Cryoport from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $22.00 to $19.00 in a research note on Friday, May 3rd. Stephens restated an “equal weight” rating and set a $17.00 price objective on shares of Cryoport in a research note on Wednesday, March 13th. Needham & Company LLC restated a “buy” rating and set a $18.00 price target on shares of Cryoport in a research report on Wednesday. UBS Group lifted their price objective on shares of Cryoport from $14.50 to $17.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, Jefferies Financial Group began coverage on shares of Cryoport in a research note on Thursday, April 4th. They set a “buy” rating and a $21.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Cryoport has an average rating of “Hold” and a consensus target price of $18.25.

Insider Buying and Selling at Cryoport

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 shares were sold at an average price of $17.54, for a total transaction of $46,147.74. Following the completion of the sale, the chief executive officer now directly owns 692,182 shares in the company, valued at $12,140,872.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Ramkumar Mandalam sold 3,217 shares of the business’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 completion of the sale, the director now directly owns 43,187 shares in the company, valued at approximately $633,985.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jerrell Shelton sold 2,631 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $17.54, for a total value of $46,147.74. Following the transaction, the chief executive officer now owns 692,182 shares in the company, valued at approximately $12,140,872.28. The disclosure for this sale can be found here. Insiders have sold a total of 73,940 shares of company stock valued at $1,147,538 in the last 90 days. 10.10% of the stock is currently owned by corporate insiders.

Cryoport Company Profile

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.