Cryoport, Inc. (NASDAQ:CYRX) Short Interest Update

Cryoport, Inc. (NASDAQ:CYRX) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 2,630,000 shares, a decrease of 9.6% from the September 15th total of 2,910,000 shares. Based on an average daily trading volume, of 678,800 shares, the short-interest ratio is presently 3.9 days. Approximately 5.5% of the company’s shares are sold short.

Cryoport Stock Down 1.8 %

Shares of CYRX stock traded down $0.13 during trading hours on Thursday, reaching $7.13. The company had a trading volume of 190,286 shares, compared to its average volume of 585,332. The company has a market capitalization of $351.20 million, a P/E ratio of -2.89 and a beta of 1.60. The company has a debt-to-equity ratio of 0.97, a quick ratio of 7.99 and a current ratio of 8.38. Cryoport has a twelve month low of $5.32 and a twelve month high of $20.10. The stock’s fifty day simple moving average is $8.20 and its 200 day simple moving average is $10.45.

Cryoport (NASDAQ:CYRX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($1.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($1.25). The firm had revenue of $57.60 million for the quarter, compared to analysts’ expectations of $57.65 million. Cryoport had a negative net margin of 76.48% and a negative return on equity of 15.55%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.42) EPS. As a group, sell-side analysts expect that Cryoport will post -1.63 earnings per share for the current fiscal year.

Cryoport announced that its board has initiated a stock repurchase program on Tuesday, August 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 49.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently commented on CYRX. UBS Group cut their price target on shares of Cryoport from $17.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Jefferies Financial Group lowered Cryoport from a “buy” rating to a “hold” rating and dropped their price target for the stock from $20.00 to $8.00 in a research note on Wednesday, August 7th. Needham & Company LLC reduced their price objective on Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, B. Riley raised shares of Cryoport from a “neutral” rating to a “buy” rating and reduced their price target for the company from $19.00 to $15.00 in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cryoport has an average rating of “Hold” and a consensus target price of $11.60.

Insider Activity at Cryoport

In other Cryoport news, Director Ramkumar Mandalam sold 4,167 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $8.04, for a total value of $33,502.68. Following the completion of the transaction, the director now directly owns 56,032 shares in the company, valued at approximately $450,497.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 7,167 shares of company stock valued at $60,363. Company insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On Cryoport

A number of institutional investors have recently made changes to their positions in CYRX. Price T Rowe Associates Inc. MD increased its position in shares of Cryoport by 3.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,522 shares of the company’s stock worth $859,000 after purchasing an additional 1,438 shares during the last quarter. Comerica Bank increased its holdings in shares of Cryoport by 73.0% in the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock valued at $62,000 after acquiring an additional 1,469 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Cryoport by 9.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock valued at $122,000 after acquiring an additional 1,534 shares in the last quarter. Rhumbline Advisers lifted its stake in Cryoport by 3.4% during the second quarter. Rhumbline Advisers now owns 64,158 shares of the company’s stock worth $443,000 after purchasing an additional 2,086 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Cryoport by 27.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 15,638 shares of the company’s stock worth $277,000 after purchasing an additional 3,400 shares during the period. 92.90% of the stock is owned by institutional investors and hedge funds.

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.