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

B. Riley lowered shares of Cryoport (NASDAQ:CYRX) from a buy rating to a neutral rating in a report released on Friday, Marketbeat reports. B. Riley currently has $19.00 price target on the stock, down from their prior price target of $22.00.

A number of other research firms have also weighed in on CYRX. Needham & Company LLC lowered their target price on 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 assumed coverage on Cryoport in a research report on Thursday, April 4th. They issued a buy rating and a $21.00 price objective for the company. UBS Group raised their target price on shares of Cryoport from $14.50 to $17.00 and gave the stock a neutral rating in a report on Friday, March 15th. Finally, Stephens reiterated an equal weight rating and set a $17.00 price target on shares of Cryoport in a report on Wednesday, March 13th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $18.25.

Cryoport Stock Up 0.3 %

Shares of NASDAQ CYRX opened at $16.00 on Friday. The stock has a market capitalization of $786.56 million, a P/E ratio of -7.27 and a beta of 1.60. Cryoport has a one year low of $9.00 and a one year high of $24.17. The firm’s 50 day simple moving average is $16.94 and its two-hundred day simple moving average is $15.18. The company has a debt-to-equity ratio of 0.82, a current ratio of 11.73 and a quick ratio of 11.16.

Cryoport (NASDAQ:CYRX) last released its earnings results on Tuesday, March 12th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.19). The business had revenue of $57.26 million for the quarter, compared to the consensus estimate of $58.27 million. Cryoport had a negative net margin of 42.69% and a negative return on equity of 11.86%. As a group, analysts expect that Cryoport will post -1.42 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jerrell Shelton sold 57,039 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $15.30, for a total value of $872,696.70. Following the sale, the chief executive officer now directly owns 634,352 shares of the company’s stock, valued at approximately $9,705,585.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cryoport news, CEO Jerrell Shelton sold 57,039 shares of Cryoport stock in a transaction on Friday, March 15th. The stock was sold at an average price of $15.30, for a total transaction of $872,696.70. Following the completion of the transaction, 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 can be accessed through this link. Also, Director Ramkumar Mandalam sold 3,217 shares of the firm’s 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 owns 43,187 shares of the company’s stock, valued at $633,985.16. 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 over the last ninety days. Company insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Conestoga Capital Advisors LLC raised its holdings in Cryoport by 1.0% in the 1st quarter. Conestoga Capital Advisors LLC now owns 71,417 shares of the company’s stock worth $1,264,000 after acquiring an additional 690 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Cryoport by 5.4% during the fourth quarter. Arizona State Retirement System now owns 13,665 shares of the company’s stock valued at $212,000 after purchasing an additional 696 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cryoport by 13.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,462 shares of the company’s stock valued at $157,000 after buying an additional 1,395 shares during the last quarter. Natixis Investment Managers International boosted its position in shares of Cryoport by 61.5% during the fourth quarter. Natixis Investment Managers International now owns 4,536 shares of the company’s stock valued at $70,000 after buying an additional 1,727 shares during the last quarter. Finally, Advisors Capital Management LLC increased its holdings in Cryoport by 2.5% in the 3rd quarter. Advisors Capital Management LLC now owns 78,993 shares of the company’s stock worth $1,083,000 after buying an additional 1,947 shares in the last quarter. Institutional investors 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.