Cryoport, Inc. (NASDAQ:CYRX) Short Interest Down 6.7% in July

Cryoport, Inc. (NASDAQ:CYRX) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 3,360,000 shares, a decline of 6.7% from the July 15th total of 3,600,000 shares. Approximately 7.1% of the shares of the stock are sold short. Based on an average trading volume of 843,000 shares, the days-to-cover ratio is currently 4.0 days.

Cryoport Trading Down 2.3 %

NASDAQ CYRX opened at $9.17 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 10.22 and a current ratio of 10.73. The firm has a market cap of $451.69 million, a price-to-earnings ratio of -3.71 and a beta of 1.59. The firm has a 50 day simple moving average of $8.22 and a 200-day simple moving average of $12.84. Cryoport has a one year low of $5.32 and a one year high of $20.10.

Cryoport (NASDAQ:CYRX) last released its earnings results 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 business had revenue of $57.60 million for the quarter, compared to analyst estimates of $57.65 million. Cryoport had a negative return on equity of 15.19% and a negative net margin of 50.17%. Cryoport’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.42) earnings per share. Equities research analysts anticipate that Cryoport will post -1.39 EPS for the current fiscal year.

Analyst Ratings Changes

CYRX has been the subject of several recent analyst reports. Needham & Company LLC cut their price objective on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. 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. UBS Group lowered their price objective on Cryoport from $17.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group downgraded Cryoport from a “buy” rating to a “hold” rating and reduced their target price for the company from $20.00 to $8.00 in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Cryoport currently has a consensus rating of “Hold” and a consensus price target of $11.60.

Insider Buying and Selling

In other Cryoport news, Director Ramkumar Mandalam sold 4,167 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $8.04, for a total value of $33,502.68. Following the transaction, the director now directly owns 56,032 shares of the company’s stock, valued at approximately $450,497.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 6,167 shares of company stock worth $50,903. 10.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank increased its holdings in Cryoport by 73.0% during the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock worth $62,000 after purchasing an additional 1,469 shares during the period. Natixis Investment Managers International grew 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 worth $70,000 after buying an additional 1,727 shares in the last quarter. Quest Partners LLC grew its position in shares of Cryoport by 1,083,000.0% during the second quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock worth $75,000 after buying an additional 10,830 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Cryoport during the second quarter worth approximately $92,000. Finally, Lazard Asset Management LLC raised its holdings in Cryoport by 294.3% in the first quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock valued at $95,000 after acquiring an additional 4,014 shares in the last quarter. 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.