CryoPort (NASDAQ:CYRX) Posts Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• Earnings miss: CryoPort reported (‑$0.23) EPS versus consensus (‑$0.20), missing by $0.03, and the stock dipped to $10.21 on Monday with volume above its average.
• Analyst outlook mixed but tilted positive: seven Buys, one Hold and one Sell result in a "Moderate Buy" consensus and an average target of $13.31, with recent targets ranging up to $15.
• Insider selling and high institutional ownership: insiders sold about 59,939 shares (~$471k) over the past 90 days while owning 10.1% of the company, and institutions hold 92.9% of the stock.

CryoPort (NASDAQ:CYRX - Get Free Report) issued its quarterly earnings data on Monday. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.03), Zacks reports. CryoPort had a negative return on equity of 8.22% and a net margin of 42.35%.

CryoPort Price Performance

NASDAQ CYRX traded down $0.14 during trading hours on Monday, reaching $10.21. 610,459 shares of the stock traded hands, compared to its average volume of 406,693. The stock has a 50 day simple moving average of $8.92 and a two-hundred day simple moving average of $9.32. CryoPort has a 1 year low of $5.31 and a 1 year high of $11.45. The company has a market cap of $512.54 million, a price-to-earnings ratio of 7.73 and a beta of 1.75.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CYRX. Needham & Company LLC increased their price objective on CryoPort from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, March 4th. Weiss Ratings reiterated a "sell (d+)" rating on shares of CryoPort in a research report on Friday, March 27th. Wall Street Zen cut CryoPort from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Craig Hallum began coverage on CryoPort in a research report on Monday, March 30th. They set a "buy" rating and a $15.00 price target on the stock. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $13.31.

Insider Buying and Selling at CryoPort

In other CryoPort news, insider Mark W. Sawicki sold 3,235 shares of the firm's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $8.00, for a total transaction of $25,880.00. Following the sale, the insider owned 103,697 shares in the company, valued at $829,576. This trade represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert Stefanovich sold 38,700 shares of the firm's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $7.76, for a total value of $300,312.00. Following the sale, the chief financial officer owned 255,701 shares in the company, valued at $1,984,239.76. The trade was a 13.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 59,939 shares of company stock worth $471,183 over the last 90 days. Corporate insiders own 10.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CYRX. Tower Research Capital LLC TRC grew its stake in shares of CryoPort by 300.1% during the second quarter. Tower Research Capital LLC TRC now owns 5,833 shares of the company's stock valued at $44,000 after buying an additional 4,375 shares during the last quarter. Creative Planning bought a new position in shares of CryoPort during the second quarter valued at about $96,000. Quadrature Capital Ltd bought a new position in shares of CryoPort during the fourth quarter valued at about $97,000. State of Wyoming grew its stake in shares of CryoPort by 30.2% during the second quarter. State of Wyoming now owns 14,218 shares of the company's stock valued at $106,000 after buying an additional 3,301 shares during the last quarter. Finally, Corient Private Wealth LLC bought a new position in shares of CryoPort during the fourth quarter valued at about $113,000. 92.90% of the stock is owned by institutional investors.

About CryoPort

CryoPort, Inc NASDAQ: CYRX is a global provider of temperature-controlled logistics solutions for the life sciences industry. The company specializes in cryogenic shipping for critical biological materials, supporting the development, clinical testing and commercialization of cell and gene therapies, biologics, vaccines and reproductive medicine. By offering end-to-end supply chain management, CryoPort helps ensure the integrity and viability of temperature-sensitive products from point of origin to destination.

CryoPort's product portfolio includes proprietary cryogenic dry shippers, advanced active and passive thermal packaging, and real-time data monitoring platforms.

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