Cryoport (NASDAQ:CYRX) Shares Gap Down to $17.16

Cryoport, Inc. (NASDAQ:CYRX - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $17.16, but opened at $15.72. Cryoport shares last traded at $16.85, with a volume of 98,552 shares changing hands.

Analyst Upgrades and Downgrades

CYRX has been the subject of several recent research reports. Jefferies Financial Group assumed coverage on shares of Cryoport in a research report on Thursday, April 4th. They issued a "buy" rating and a $21.00 price objective for the company. Needham & Company LLC dropped their price target on shares of Cryoport from $19.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, March 13th. B. Riley lowered shares of Cryoport from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $22.00 to $19.00 in a research note on Friday. UBS Group lifted their price target on shares of Cryoport from $14.50 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, March 15th. Finally, Stephens restated an "equal weight" rating and issued a $17.00 price target on shares of Cryoport in a research note on Wednesday, March 13th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.25.

Cryoport Trading Down 7.1 %

The company has a market cap of $784.17 million, a price-to-earnings ratio of -7.25 and a beta of 1.60. The company has a debt-to-equity ratio of 0.82, a current ratio of 11.73 and a quick ratio of 11.16. The firm's fifty day moving average price is $16.94 and its 200-day moving average price is $15.08.

Cryoport (NASDAQ:CYRX - Get Free Report) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.19). The company had revenue of $57.26 million during the quarter, compared to analyst estimates of $58.27 million. Cryoport had a negative return on equity of 11.86% and a negative net margin of 42.69%. On average, equities analysts expect that Cryoport, Inc. will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Cryoport news, CEO Jerrell Shelton sold 57,039 shares of the company's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $15.30, for a total value of $872,696.70. Following the completion of the sale, the chief executive officer now directly owns 634,352 shares of the company's stock, valued at approximately $9,705,585.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cryoport news, Director Ramkumar Mandalam sold 3,217 shares of the company'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 completion of the sale, the director now directly owns 43,187 shares of the company's stock, valued at approximately $633,985.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jerrell Shelton sold 57,039 shares of the company's stock in a transaction dated Friday, March 15th. The shares were 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 directly owns 634,352 shares of the company's stock, valued at $9,705,585.60. The disclosure for this sale can be found here. Insiders sold 73,940 shares of company stock valued at $1,147,538 over the last 90 days. 10.10% of the stock is currently owned by company insiders.

Institutional Trading of Cryoport

Institutional investors and hedge funds have recently bought and sold shares of the stock. Natixis Investment Managers International raised 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 worth $70,000 after buying an additional 1,727 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised 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 worth $157,000 after buying an additional 1,395 shares during the period. WINTON GROUP Ltd acquired a new stake in Cryoport during the 3rd quarter worth about $163,000. Pathstone Family Office LLC acquired a new stake in Cryoport during the 3rd quarter worth about $165,000. Finally, Quantbot Technologies LP raised its holdings in Cryoport by 109.0% during the 3rd quarter. Quantbot Technologies LP now owns 12,838 shares of the company's stock worth $176,000 after buying an additional 6,694 shares during the period. Institutional investors and hedge funds 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.

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