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

Cryoport, Inc. (NASDAQ:CYRX)’s stock price gapped down before the market opened 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.

Analysts Set New Price Targets

Several brokerages recently weighed in on CYRX. Needham & Company LLC decreased their price objective on shares of Cryoport from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. 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. Jefferies Financial Group assumed coverage on Cryoport in a research report on Thursday, April 4th. They set a “buy” rating and a $21.00 price objective on the stock. B. Riley downgraded Cryoport from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $19.00 in a report on Friday. Finally, UBS Group upped their target price on shares of Cryoport from $14.50 to $17.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Cryoport presently has an average rating of “Hold” and an average price target of $18.25.

Cryoport Stock Down 7.1 %

The company’s 50-day simple moving average is $16.94 and its two-hundred day simple moving average is $15.13. 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 has a market capitalization of $784.10 million, a P/E ratio of -7.25 and a beta of 1.60.

Cryoport (NASDAQ:CYRX) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.51) earnings per share (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 company 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, Inc. will post -1.42 earnings per share for the current year.

Insider Buying and Selling at Cryoport

In other news, CEO Jerrell Shelton sold 3,723 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $16.35, for a total transaction of $60,871.05. Following the sale, the chief executive officer now directly owns 636,951 shares in the company, valued at approximately $10,414,148.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cryoport news, Director Ramkumar Mandalam sold 3,217 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $14.68, for a total value of $47,225.56. Following the completion of the transaction, the director now directly owns 43,187 shares in the company, valued at approximately $633,985.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jerrell Shelton sold 3,723 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $16.35, for a total transaction of $60,871.05. Following the sale, the chief executive officer now directly owns 636,951 shares of the company’s stock, valued at $10,414,148.85. The disclosure for this sale can be found here. Insiders have 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 corporate insiders.

Hedge Funds Weigh In On Cryoport

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cadian Capital Management LP lifted its stake in Cryoport by 298.2% in the 3rd quarter. Cadian Capital Management LP now owns 2,656,739 shares of the company’s stock worth $36,424,000 after purchasing an additional 1,989,598 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Cryoport by 487.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,393,156 shares of the company’s stock valued at $21,580,000 after buying an additional 1,156,106 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Cryoport by 46.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,992,895 shares of the company’s stock valued at $30,870,000 after buying an additional 636,395 shares in the last quarter. New York State Common Retirement Fund increased its stake in Cryoport by 29.9% in 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 last quarter. Finally, Invesco Ltd. raised 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 in the last quarter. Institutional investors own 92.90% of the company’s stock.

About Cryoport

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.