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

Cryoport (NASDAQ:CYRX) posted its quarterly earnings data 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 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 the consensus estimate of $58.78 million. During the same quarter last year, the company posted ($0.16) earnings per share. The firm’s revenue for the quarter was down 13.1% on a year-over-year basis.

Cryoport Trading Down 10.7 %

Shares of CYRX stock traded down $1.76 during mid-day trading on Wednesday, reaching $14.64. The stock had a trading volume of 74,187 shares, compared to its average volume of 438,891. Cryoport has a 52-week low of $9.00 and a 52-week high of $23.50. The firm has a market capitalization of $719.70 million, a PE ratio of -6.67 and a beta of 1.60. The company has a current ratio of 11.73, a quick ratio of 11.16 and a debt-to-equity ratio of 0.82. The stock’s 50-day moving average price is $16.93 and its two-hundred day moving average price is $15.22.

Insider Activity at Cryoport

In other news, CEO Jerrell Shelton sold 3,723 shares of Cryoport stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $16.35, for a total value of $60,871.05. Following the sale, the chief executive officer now directly owns 636,951 shares in the company, valued at approximately $10,414,148.85. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Jerrell Shelton sold 3,723 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $16.35, for a total value of $60,871.05. Following the completion of the sale, the chief executive officer now directly owns 636,951 shares of the company’s stock, valued at approximately $10,414,148.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ramkumar Mandalam sold 3,217 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $14.68, for a total transaction of $47,225.56. Following the transaction, the director now owns 43,187 shares in the company, 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 in the last 90 days. Company insiders own 10.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CYRX shares. B. Riley lowered shares of Cryoport from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $19.00 in a report on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Cryoport in a research note on Wednesday. Stephens reiterated an “equal weight” rating and issued a $17.00 price objective on shares of Cryoport in a report on Wednesday, March 13th. UBS Group boosted their target price on Cryoport from $14.50 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Finally, 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 price target on the stock. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.25.

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.