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

Cryoport (NASDAQ:CYRX - Get Free Report) was downgraded by stock analysts at B. Riley from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Friday, Marketbeat reports. They currently have a $19.00 price objective on the stock, down from their prior price objective of $22.00. B. Riley's price target points to a potential upside of 19.12% from the company's previous close.

CYRX has been the topic of several other research reports. Jefferies Financial Group initiated coverage on Cryoport in a report on Thursday, April 4th. They issued a "buy" rating and a $21.00 price target on the stock. Needham & Company LLC cut their price target on Cryoport from $19.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, March 13th. UBS Group increased their price target on Cryoport from $14.50 to $17.00 and gave the stock a "neutral" rating in a report on Friday, March 15th. 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $18.25.

Cryoport Trading Down 7.1 %

Shares of NASDAQ CYRX traded down $1.21 during trading on Friday, reaching $15.95. The company had a trading volume of 534,296 shares, compared to its average volume of 440,264. Cryoport has a 12 month low of $9.00 and a 12 month high of $24.17. The company has a quick ratio of 11.16, a current ratio of 11.73 and a debt-to-equity ratio of 0.82. The company's fifty day moving average price is $16.94 and its 200-day moving average price is $15.08. The stock has a market cap of $784.17 million, a P/E ratio of -7.25 and a beta of 1.60.

Cryoport (NASDAQ:CYRX - Get Free Report) last announced its earnings results on Tuesday, March 12th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.19). Cryoport had a negative net margin of 42.69% and a negative return on equity of 11.86%. The business had revenue of $57.26 million for the quarter, compared to the consensus estimate of $58.27 million. As a group, research analysts expect that Cryoport will post -1.31 earnings per share for the current year.

Insider Activity at Cryoport

In related news, CEO Jerrell Shelton sold 57,039 shares of Cryoport stock in a transaction on Friday, March 15th. The stock was sold at an average price of $15.30, for a total transaction of $872,696.70. Following the completion of the sale, the chief executive officer now owns 634,352 shares of the company's stock, valued at $9,705,585.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jerrell Shelton sold 57,039 shares of Cryoport stock in a transaction on Friday, March 15th. The stock was sold at an average price of $15.30, for a total transaction of $872,696.70. Following the completion of the sale, the chief executive officer now owns 634,352 shares of the company's stock, valued at $9,705,585.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ramkumar Mandalam sold 3,217 shares of the firm's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $14.68, for a total value of $47,225.56. Following the sale, the director now owns 43,187 shares in the company, valued at approximately $633,985.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,940 shares of company stock valued at $1,147,538. Company insiders own 10.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Cryoport by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,559,092 shares of the company's stock valued at $48,795,000 after purchasing an additional 74,037 shares during the last quarter. Cadian Capital Management LP grew its holdings in shares of Cryoport by 30.4% during the 4th quarter. Cadian Capital Management LP now owns 3,464,079 shares of the company's stock worth $53,659,000 after acquiring an additional 807,340 shares during the period. Invesco Ltd. grew its holdings in shares of Cryoport by 17.9% during the 3rd quarter. Invesco Ltd. now owns 2,062,481 shares of the company's stock worth $28,277,000 after acquiring an additional 313,853 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Cryoport by 46.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,992,895 shares of the company's stock worth $30,870,000 after acquiring an additional 636,395 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in shares of Cryoport by 29.9% during the 4th quarter. New York State Common Retirement Fund now owns 1,642,752 shares of the company's stock worth $25,446,000 after acquiring an additional 378,340 shares during the period. Institutional investors own 92.90% of the company's stock.

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.