Roth Capital Comments on Cryoport, Inc.’s Q3 2024 Earnings (NASDAQ:CYRX)

Cryoport, Inc. (NASDAQ:CYRX) – Investment analysts at Roth Capital lowered their Q3 2024 earnings per share estimates for shares of Cryoport in a research report issued on Wednesday, August 7th. Roth Capital analyst R. Baldry now expects that the company will earn ($0.33) per share for the quarter, down from their previous estimate of ($0.31). The consensus estimate for Cryoport’s current full-year earnings is ($1.39) per share. Roth Capital also issued estimates for Cryoport’s Q4 2024 earnings at ($0.30) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.29) EPS, Q3 2025 earnings at ($0.29) EPS and FY2025 earnings at ($1.16) EPS.

Cryoport (NASDAQ:CYRX) last posted its earnings results on Tuesday, August 6th. The company reported ($1.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($1.25). Cryoport had a negative return on equity of 15.19% and a negative net margin of 50.17%. The firm had revenue of $57.60 million for the quarter, compared to analyst estimates of $57.65 million. During the same period in the previous year, the company posted ($0.42) EPS. Cryoport’s revenue was up 1.0% on a year-over-year basis.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group downgraded Cryoport from a “buy” rating to a “hold” rating and cut their price target for the stock from $20.00 to $8.00 in a report on Wednesday. Needham & Company LLC dropped their price objective on Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday. B. Riley upgraded Cryoport from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $19.00 to $15.00 in a report on Wednesday, July 31st. Finally, UBS Group dropped their price objective on Cryoport from $17.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.33.

Cryoport Price Performance

Shares of NASDAQ CYRX opened at $8.23 on Friday. The stock’s 50-day moving average is $8.47 and its two-hundred day moving average is $13.13. The company has a debt-to-equity ratio of 0.86, a current ratio of 10.73 and a quick ratio of 10.22. Cryoport has a 1-year low of $5.32 and a 1-year high of $20.10. The company has a market cap of $405.39 million, a price-to-earnings ratio of -3.33 and a beta of 1.59.

Hedge Funds Weigh In On Cryoport

Several hedge funds have recently bought and sold shares of CYRX. Cadian Capital Management LP increased its position in Cryoport by 30.4% during the fourth quarter. Cadian Capital Management LP now owns 3,464,079 shares of the company’s stock worth $53,659,000 after buying an additional 807,340 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Cryoport by 46.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,992,895 shares of the company’s stock valued at $30,870,000 after purchasing an additional 636,395 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Cryoport by 52.9% in the second quarter. Assenagon Asset Management S.A. now owns 1,477,693 shares of the company’s stock valued at $10,211,000 after purchasing an additional 511,064 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Cryoport in the first quarter valued at $7,800,000. Finally, New York State Common Retirement Fund grew its position in shares of Cryoport by 29.9% in the fourth quarter. New York State Common Retirement Fund now owns 1,642,752 shares of the company’s stock valued at $25,446,000 after purchasing an additional 378,340 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Insiders Place Their Bets

In other news, Director Richard J. Berman sold 8,105 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $13.41, for a total value of $108,688.05. Following the completion of the sale, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $1,341,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Edward J. Zecchini sold 3,443 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $13.37, for a total value of $46,032.91. Following the completion of the transaction, the insider now directly owns 60,051 shares of the company’s stock, valued at approximately $802,881.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard J. Berman sold 8,105 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $1,341,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,715 shares of company stock valued at $188,224. 10.10% of the stock is owned by company insiders.

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.