Bank of New York Mellon Corp Purchases New Position in CryoPort, Inc. $CYRX

Key Points

• Bank of New York Mellon purchased 214,210 CryoPort shares worth approximately $3.36 million, while institutional investors collectively own 92.9% of the company.
• CryoPort reported quarterly revenue of $48.97 million, ahead of estimates, but missed earnings expectations with a loss of $0.20 per share. Analysts project a full-year loss of $0.83 per share.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $18.00 versus the stock’s reported $15.81 price; however, company insiders sold 63,800 shares worth about $936,922 over the past 90 days.

Bank of New York Mellon Corp purchased a new stake in shares of CryoPort, Inc. (NASDAQ:CYRX - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 214,210 shares of the company's stock, valued at approximately $3,363,000. Bank of New York Mellon Corp owned about 0.43% of CryoPort at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Basepoint Wealth LLC purchased a new position in CryoPort during the 4th quarter valued at $34,000. Tower Research Capital LLC TRC lifted its position in shares of CryoPort by 300.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,833 shares of the company's stock worth $44,000 after purchasing an additional 4,375 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of CryoPort in the 4th quarter worth about $97,000. Corient Private Wealth LLC bought a new stake in shares of CryoPort during the 4th quarter valued at about $113,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of CryoPort by 55.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,880 shares of the company's stock valued at $113,000 after purchasing an additional 4,225 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors.

CryoPort Stock Performance

Shares of CYRX opened at $15.81 on Monday. The company has a market cap of $800.78 million, a price-to-earnings ratio of -17.57 and a beta of 1.89. The business's fifty day simple moving average is $15.71 and its two-hundred day simple moving average is $12.83. CryoPort, Inc. has a 12 month low of $7.61 and a 12 month high of $17.20.

CryoPort (NASDAQ:CYRX - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). CryoPort had a negative net margin of 20.05% and a negative return on equity of 7.20%. The business had revenue of $48.97 million for the quarter, compared to the consensus estimate of $48.18 million. As a group, research analysts forecast that CryoPort, Inc. will post -0.83 EPS for the current year.

Wall Street Analysts Forecast Growth

CYRX has been the topic of several research reports. Wall Street Zen raised CryoPort from a "sell" rating to a "hold" rating in a research report on Monday, May 11th. Guggenheim increased their target price on CryoPort from $12.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Craig Hallum raised their target price on CryoPort from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, June 3rd. KeyCorp lifted their price target on CryoPort from $15.00 to $17.00 and gave the company an "overweight" rating in a research report on Wednesday, May 20th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $21.00 price target on shares of CryoPort in a research note on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, CryoPort has an average rating of "Moderate Buy" and an average target price of $18.00.

Insider Buying and Selling

In related news, CEO Jerrell Shelton sold 28,800 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $14.91, for a total transaction of $429,408.00. Following the completion of the sale, the chief executive officer owned 1,201,814 shares in the company, valued at approximately $17,919,046.74. This represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Edward J. Zecchini sold 33,600 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $14.47, for a total value of $486,192.00. Following the completion of the transaction, the insider directly owned 109,719 shares in the company, valued at $1,587,633.93. The trade was a 23.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 63,800 shares of company stock worth $936,922. 9.50% of the stock is owned by insiders.

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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