Cryoport (NASDAQ:CYRX) Cut to “Neutral” at B. Riley

B. Riley downgraded shares of Cryoport (NASDAQ:CYRX) from a buy rating to a neutral rating in a report issued on Friday morning, Marketbeat.com reports. They currently have $19.00 price objective on the stock, down from their previous price objective of $22.00.

Several other research firms also recently commented on CYRX. UBS Group increased their price objective on Cryoport from $14.50 to $17.00 and gave the company a neutral rating in a research note on Friday, March 15th. Needham & Company LLC reduced their price objective 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 started coverage on Cryoport in a research note on Thursday, April 4th. They issued a buy rating and a $21.00 price objective for the company. Finally, Stephens reissued an equal weight rating and issued a $17.00 price objective on shares of Cryoport in a research note on Wednesday, March 13th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Cryoport presently has an average rating of Hold and a consensus target price of $18.25.

Cryoport Stock Performance

NASDAQ CYRX traded down $1.21 during trading hours on Friday, reaching $15.95. The stock had a trading volume of 534,296 shares, compared to its average volume of 354,330. The stock has a fifty day moving average of $16.94 and a 200 day moving average of $15.11. The stock has a market cap of $784.10 million, a P/E ratio of -7.25 and a beta of 1.60. Cryoport has a 52-week low of $9.00 and a 52-week high of $24.17. The company has a debt-to-equity ratio of 0.82, a quick ratio of 11.16 and a current ratio of 11.73.

Cryoport (NASDAQ:CYRX) last issued its earnings results on Tuesday, March 12th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.19). The firm had revenue of $57.26 million during the quarter, compared to analysts’ expectations of $58.27 million. Cryoport had a negative net margin of 42.69% and a negative return on equity of 11.86%. Sell-side analysts predict that Cryoport will post -1.42 earnings per share for the current year.

Insider Buying and Selling at Cryoport

In other news, Director Ramkumar Mandalam sold 3,217 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $14.68, for a total transaction of $47,225.56. Following the completion of the transaction, the director now directly owns 43,187 shares in the company, valued at approximately $633,985.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Jerrell Shelton sold 3,723 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $16.35, for a total transaction of $60,871.05. Following the completion of the transaction, the chief executive officer now directly owns 636,951 shares in the company, valued at approximately $10,414,148.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ramkumar Mandalam sold 3,217 shares of the stock in a transaction on Friday, March 15th. The stock was 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 sold a total of 73,940 shares of company stock worth $1,147,538 in the last three months. 10.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cryoport

Hedge funds have recently modified their holdings of the business. Conestoga Capital Advisors LLC boosted its holdings in Cryoport by 1.0% during the 1st quarter. Conestoga Capital Advisors LLC now owns 71,417 shares of the company’s stock valued at $1,264,000 after acquiring an additional 690 shares during the period. Arizona State Retirement System boosted its holdings in Cryoport by 5.4% during the 4th quarter. Arizona State Retirement System now owns 13,665 shares of the company’s stock valued at $212,000 after acquiring an additional 696 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cryoport by 13.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,462 shares of the company’s stock valued at $157,000 after acquiring an additional 1,395 shares during the period. Natixis Investment Managers International boosted its holdings in Cryoport by 61.5% during the 4th quarter. Natixis Investment Managers International now owns 4,536 shares of the company’s stock valued at $70,000 after acquiring an additional 1,727 shares during the period. Finally, Advisors Capital Management LLC boosted its holdings in Cryoport by 2.5% during the 3rd quarter. Advisors Capital Management LLC now owns 78,993 shares of the company’s stock valued at $1,083,000 after acquiring an additional 1,947 shares during the period. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

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.