CryoPort Inc (NASDAQ:CYRX) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 6,420,000 shares, a decrease of 18.5% from the August 15th total of 7,880,000 shares. Based on an average daily volume of 784,300 shares, the days-to-cover ratio is presently 8.2 days.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Fred Alger Management LLC increased its holdings in shares of CryoPort by 1.3% in the 1st quarter. Fred Alger Management LLC now owns 4,724,983 shares of the consumer goods maker's stock valued at $80,655,000 after acquiring an additional 60,405 shares during the period. Vanguard Group Inc. grew its position in CryoPort by 5.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,033,727 shares of the consumer goods maker's stock valued at $61,520,000 after buying an additional 113,315 shares during the last quarter. Redmile Group LLC grew its position in CryoPort by 115.8% in the 1st quarter. Redmile Group LLC now owns 1,817,663 shares of the consumer goods maker's stock valued at $31,028,000 after buying an additional 975,300 shares during the last quarter. Janus Henderson Group PLC grew its position in CryoPort by 155.4% in the 1st quarter. Janus Henderson Group PLC now owns 1,333,178 shares of the consumer goods maker's stock valued at $22,757,000 after buying an additional 811,205 shares during the last quarter. Finally, Invesco Ltd. grew its position in CryoPort by 15.2% in the 1st quarter. Invesco Ltd. now owns 1,331,575 shares of the consumer goods maker's stock valued at $22,729,000 after buying an additional 175,325 shares during the last quarter. Institutional investors and hedge funds own 89.57% of the company's stock.
CYRX has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of CryoPort from a "hold" rating to a "buy" rating in a research note on Tuesday, August 11th. Roth Capital upped their price objective on shares of CryoPort from $42.00 to $50.00 and gave the company a "buy" rating in a report on Monday, August 24th. Stephens upped their price objective on shares of CryoPort from $38.00 to $44.00 and gave the company an "overweight" rating in a report on Monday, August 24th. TheStreet raised shares of CryoPort from a "d+" rating to a "c" rating in a report on Friday, August 7th. Finally, B. Riley upped their price objective on shares of CryoPort from $45.00 to $66.00 in a report on Thursday, September 10th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of "Buy" and an average price target of $42.33.
NASDAQ CYRX traded down $1.10 during mid-day trading on Wednesday, reaching $49.79. 12,375 shares of the stock were exchanged, compared to its average volume of 625,375. The business's 50 day moving average is $42.26 and its 200-day moving average is $27.51. CryoPort has a 1 year low of $12.40 and a 1 year high of $60.82. The company has a market capitalization of $1.97 billion, a P/E ratio of -79.52 and a beta of 1.31. The company has a debt-to-equity ratio of 0.92, a quick ratio of 22.89 and a current ratio of 22.95.
CryoPort (NASDAQ:CYRX) last posted its quarterly earnings data on Thursday, August 6th. The consumer goods maker reported ($0.15) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.11) by ($0.04). The company had revenue of $9.39 million for the quarter, compared to analyst estimates of $8.93 million. CryoPort had a negative return on equity of 18.89% and a negative net margin of 60.97%. The business's revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.08) earnings per share. Equities analysts predict that CryoPort will post -0.48 earnings per share for the current fiscal year.
CryoPort Company Profile
CryoPort, Inc engages in the provision of logistics solutions to the life science industry. It also provides logistics solutions for biologic materials such as immunotherapies, stem cells, CAR-T cells, and reproductive cells for clients worldwide, including points-of-care, clinical research organizations central laboratories, biopharmaceuticals, contract manufacturing, health centers, and university researchers.
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