Cryoport (NASDAQ:CYRX) Shares Down 7.4%

Cryoport, Inc. (NASDAQ:CYRX – Get Rating)’s share price was down 7.4% during trading on Wednesday . The stock traded as low as $18.63 and last traded at $18.72. Approximately 76,788 shares traded hands during trading, a decline of 80% from the average daily volume of 386,596 shares. The stock had previously closed at $20.21.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “buy” rating and set a $30.00 price target on shares of Cryoport in a report on Friday, April 21st.

Cryoport Trading Down 1.3 %

The stock has a 50 day simple moving average of $21.28 and a 200-day simple moving average of $20.49. The firm has a market capitalization of $868.45 million, a P/E ratio of -24.45 and a beta of 1.32. The company has a current ratio of 14.54, a quick ratio of 13.90 and a debt-to-equity ratio of 0.76.

Cryoport (NASDAQ:CYRX – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The consumer goods maker reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The business had revenue of $62.82 million during the quarter, compared to the consensus estimate of $62.15 million. Cryoport had a negative return on equity of 4.90% and a negative net margin of 11.91%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.31) EPS. On average, equities research analysts forecast that Cryoport, Inc. will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling

In other Cryoport news, Director Richard J. Berman sold 7,203 shares of Cryoport stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $21.51, for a total value of $154,936.53. Following the sale, the director now owns 100,000 shares of the company’s stock, valued at approximately $2,151,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Cryoport news, CFO Robert Stefanovich sold 19,918 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $21.94, for a total transaction of $437,000.92. Following the sale, the chief financial officer now directly owns 107,150 shares of the company’s stock, valued at $2,350,871. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard J. Berman sold 7,203 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $21.51, for a total value of $154,936.53. Following the transaction, the director now directly owns 100,000 shares in the company, valued at approximately $2,151,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 179,743 shares of company stock valued at $3,879,341. Corporate insiders own 10.50% of the company’s stock.

Institutional Trading of Cryoport

A number of large investors have recently modified their holdings of CYRX. Point72 Hong Kong Ltd purchased a new stake in Cryoport during the third quarter worth $27,000. State of Wyoming increased its position in shares of Cryoport by 42.7% in the 4th quarter. State of Wyoming now owns 3,026 shares of the consumer goods maker’s stock valued at $53,000 after acquiring an additional 905 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Cryoport by 54.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,484 shares of the consumer goods maker’s stock valued at $60,000 after acquiring an additional 878 shares during the period. First Horizon Advisors Inc. increased its position in shares of Cryoport by 68.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,670 shares of the consumer goods maker’s stock valued at $64,000 after acquiring an additional 1,085 shares during the period. Finally, FMR LLC increased its position in shares of Cryoport by 34.1% in the 1st quarter. FMR LLC now owns 2,935 shares of the consumer goods maker’s stock valued at $70,000 after acquiring an additional 747 shares during the period. Hedge funds and other institutional investors own 88.66% of the company’s stock.

About Cryoport

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CryoPort, Inc engages in the provision of logistics solutions to the life science industry. It also provides logistics solutions for biologic materials such as immunotherapies, stem cells, CAR-T cells, and reproductive cells for clients worldwide, including points-of-care, clinical research organizations central laboratories, biopharmaceuticals, contract manufacturing, health centers, and university researchers.