Cryoport (NASDAQ:CYRX) Shares Down 14.1% After Earnings Miss

Shares of Cryoport, Inc. (NASDAQ:CYRX) traded down 14.1% during mid-day trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $13.76 and last traded at $14.08. 154,079 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 439,819 shares. The stock had previously closed at $16.40.

The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.06). Cryoport had a negative return on equity of 11.86% and a negative net margin of 42.69%. The company had revenue of $54.59 million during the quarter, compared to analysts’ expectations of $58.78 million. During the same period last year, the company earned ($0.16) earnings per share. The business’s revenue for the quarter was down 13.1% compared to the same quarter last year.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Jerrell Shelton sold 57,039 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $15.30, for a total value of $872,696.70. Following the completion of the transaction, the chief executive officer now directly owns 634,352 shares in the company, valued at $9,705,585.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Jerrell Shelton sold 57,039 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $15.30, for a total value of $872,696.70. Following the sale, the chief executive officer now owns 634,352 shares in the company, valued at $9,705,585.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the director now directly 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 have sold a total of 73,940 shares of company stock worth $1,147,538 over the last ninety days. Company insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Natixis Investment Managers International grew its stake in Cryoport by 61.5% in the 4th quarter. Natixis Investment Managers International now owns 4,536 shares of the company’s stock worth $70,000 after buying an additional 1,727 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 acquiring an additional 1,395 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Cryoport during the 3rd quarter worth $163,000. Pathstone Family Office LLC purchased a new position in Cryoport in the third quarter worth $165,000. Finally, Quantbot Technologies LP increased its stake in Cryoport by 109.0% in the third quarter. Quantbot Technologies LP now owns 12,838 shares of the company’s stock valued at $176,000 after acquiring an additional 6,694 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors.

Cryoport Stock Up 2.0 %

The stock has a 50-day simple moving average of $16.78 and a two-hundred day simple moving average of $15.19. The company has a quick ratio of 11.16, a current ratio of 11.73 and a debt-to-equity ratio of 0.82. The firm has a market cap of $661.75 million, a PE ratio of -6.12 and a beta of 1.60.

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.