Short Interest in Cryoport, Inc. (NASDAQ:CYRX) Declines By 5.6%

Cryoport, Inc. (NASDAQ:CYRX - Get Free Report) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 4,180,000 shares, a decrease of 5.6% from the April 15th total of 4,430,000 shares. Currently, 8.7% of the shares of the stock are short sold. Based on an average daily volume of 470,800 shares, the days-to-cover ratio is currently 8.9 days.

Analyst Upgrades and Downgrades

CYRX has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Cryoport in a research report on Thursday, April 4th. They set a "buy" rating and a $21.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and set a $18.00 target price on shares of Cryoport in a research note on Wednesday, May 8th. B. Riley cut shares of Cryoport from a "buy" rating to a "neutral" rating and cut their target price for the company from $22.00 to $19.00 in a research note on Friday, May 3rd. Stephens reiterated an "equal weight" rating and set a $17.00 target price on shares of Cryoport in a research note on Wednesday, March 13th. Finally, UBS Group boosted their price target on shares of Cryoport from $14.50 to $17.00 and gave the company a "neutral" rating in a report on Friday, March 15th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $18.25.

Insider Activity

In other news, Director Richard J. Berman sold 8,105 shares of the firm's stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $13.41, for a total value of $108,688.05. Following the transaction, the director now owns 100,000 shares of the company's stock, valued at approximately $1,341,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Richard J. Berman sold 8,105 shares of Cryoport stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $13.41, for a total value of $108,688.05. Following the sale, the director now directly owns 100,000 shares in the company, valued at approximately $1,341,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ramkumar Mandalam sold 3,217 shares of the business's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $14.68, for a total transaction of $47,225.56. Following the sale, the director now owns 43,187 shares in the company, valued at $633,985.16. The disclosure for this sale can be found here. Insiders have sold 85,488 shares of company stock worth $1,302,259 over the last ninety days. 10.10% of the stock is currently owned by insiders.

Institutional Trading of Cryoport

A number of hedge funds and other institutional investors have recently made changes to their positions in CYRX. Comerica Bank increased its holdings in shares of Cryoport by 73.0% in the first quarter. Comerica Bank now owns 3,481 shares of the company's stock valued at $62,000 after purchasing an additional 1,469 shares during the last quarter. Natixis Investment Managers International boosted its holdings in shares of 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 in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Cryoport by 294.3% in the 1st quarter. Lazard Asset Management LLC now owns 5,378 shares of the company's stock worth $95,000 after purchasing an additional 4,014 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cryoport by 13.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,462 shares of the company's stock valued at $157,000 after acquiring an additional 1,395 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in Cryoport during the 3rd quarter valued at $163,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Cryoport Trading Down 7.4 %

NASDAQ:CYRX traded down $1.01 during trading hours on Friday, hitting $12.65. 343,140 shares of the stock were exchanged, compared to its average volume of 456,866. The company has a market capitalization of $623.14 million, a P/E ratio of -5.17 and a beta of 1.60. The company has a quick ratio of 10.22, a current ratio of 10.73 and a debt-to-equity ratio of 0.86. The company's 50 day moving average is $16.40 and its two-hundred day moving average is $15.31. Cryoport has a twelve month low of $9.00 and a twelve month high of $23.50.

Cryoport (NASDAQ:CYRX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.06). Cryoport had a negative return on equity of 15.19% and a negative net margin of 50.17%. The business had revenue of $54.59 million for the quarter, compared to analyst estimates of $58.78 million. During the same quarter in the prior year, the firm earned ($0.16) EPS. The firm's quarterly revenue was down 13.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Cryoport will post -1.37 earnings per share for the current fiscal year.

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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