Cryoport (NASDAQ:CYRX) Rating Lowered to Neutral at B. Riley

B. Riley downgraded shares of Cryoport (NASDAQ:CYRX) from a buy rating to a neutral rating in a research report released on Friday morning, MarketBeat Ratings reports. They currently have $19.00 price target on the stock, down from their previous price target of $22.00.

CYRX has been the subject of a number of other reports. UBS Group lifted their price target on shares of Cryoport from $14.50 to $17.00 and gave the company a neutral rating in a research report on Friday, March 15th. Stephens reiterated an equal weight rating and set a $17.00 target price on shares of Cryoport in a research report on Wednesday, March 13th. Jefferies Financial Group began coverage on Cryoport in a research report on Thursday, April 4th. They issued a buy rating and a $21.00 price target on the stock. Finally, Needham & Company LLC reduced their price objective on shares of Cryoport from $19.00 to $18.00 and set a buy rating on the stock 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. According to MarketBeat, the company has an average rating of Hold and an average target price of $18.25.

Cryoport Stock Performance

CYRX opened at $16.00 on Friday. 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 company has a market capitalization of $786.56 million, a PE ratio of -7.27 and a beta of 1.60. The business has a fifty day simple moving average of $16.94 and a 200 day simple moving average of $15.18. Cryoport has a 1 year low of $9.00 and a 1 year high of $24.17.

Cryoport (NASDAQ:CYRX) last released its quarterly 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 during the quarter, compared to analyst estimates of $58.27 million. Research analysts expect that Cryoport will post -1.42 EPS for the current year.

Insider Activity at Cryoport

In other Cryoport news, CEO Jerrell Shelton sold 57,039 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $15.30, for a total value of $872,696.70. Following the sale, the chief executive officer now owns 634,352 shares in the company, valued at $9,705,585.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Jerrell Shelton sold 57,039 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $15.30, for a total value of $872,696.70. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ramkumar Mandalam sold 3,217 shares of the business’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 transaction of $47,225.56. Following the sale, the director now directly owns 43,187 shares in the company, valued at $633,985.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,940 shares of company stock valued at $1,147,538. 10.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CYRX. BNP Paribas Financial Markets raised its position in shares of Cryoport by 155.9% during the first quarter. BNP Paribas Financial Markets now owns 82,653 shares of the company’s stock worth $1,463,000 after acquiring an additional 50,355 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in Cryoport by 1.0% during the 1st quarter. Conestoga Capital Advisors LLC now owns 71,417 shares of the company’s stock worth $1,264,000 after purchasing an additional 690 shares during the last quarter. WCM Investment Management LLC lifted its position in shares of Cryoport by 41.8% in the 1st quarter. WCM Investment Management LLC now owns 459,492 shares of the company’s stock worth $8,133,000 after purchasing an additional 135,401 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Cryoport in the 1st quarter valued at $2,905,000. Finally, Sierra Summit Advisors LLC acquired a new stake in shares of Cryoport during the fourth quarter worth $665,000. 92.90% of the stock is owned by institutional investors and hedge funds.

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.