Cryoport, Inc. (NASDAQ:CYRX) Short Interest Update

Cryoport, Inc. (NASDAQ:CYRX) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 2,980,000 shares, a decrease of 7.2% from the August 15th total of 3,210,000 shares. Based on an average daily trading volume, of 832,300 shares, the days-to-cover ratio is currently 3.6 days. Currently, 6.3% of the shares of the company are sold short.

Insider Buying and Selling

In other Cryoport news, Director Ramkumar Mandalam sold 4,167 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $8.04, for a total value of $33,502.68. Following the sale, the director now directly owns 56,032 shares in the company, valued at $450,497.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 7,167 shares of company stock worth $60,363 in the last three months. 10.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CYRX. Comerica Bank boosted its stake in shares of Cryoport by 73.0% during the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock worth $62,000 after acquiring an additional 1,469 shares in the last quarter. Natixis Investment Managers International increased its stake in Cryoport by 61.5% in the 4th quarter. Natixis Investment Managers International now owns 4,536 shares of the company’s stock worth $70,000 after purchasing an additional 1,727 shares in the last quarter. Quest Partners LLC raised its holdings in Cryoport by 1,083,000.0% during the 2nd quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock worth $75,000 after buying an additional 10,830 shares during the period. Hsbc Holdings PLC purchased a new stake in Cryoport during the second quarter valued at about $92,000. Finally, Lazard Asset Management LLC boosted its holdings in shares of Cryoport by 294.3% in the first quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock worth $95,000 after buying an additional 4,014 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

Cryoport Price Performance

Shares of Cryoport stock traded up $0.22 during trading on Thursday, hitting $8.34. The stock had a trading volume of 6,808 shares, compared to its average volume of 602,207. The business has a fifty day moving average of $8.49 and a two-hundred day moving average of $11.72. Cryoport has a fifty-two week low of $5.32 and a fifty-two week high of $20.10. The firm has a market cap of $410.80 million, a P/E ratio of -3.29 and a beta of 1.60. The company has a debt-to-equity ratio of 0.97, a current ratio of 8.38 and a quick ratio of 7.99.

Cryoport (NASDAQ:CYRX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($1.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($1.25). The business had revenue of $57.60 million during the quarter, compared to analyst estimates of $57.65 million. Cryoport had a negative net margin of 76.48% and a negative return on equity of 15.55%. Cryoport’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.42) earnings per share. On average, sell-side analysts expect that Cryoport will post -1.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CYRX has been the subject of several analyst reports. Jefferies Financial Group downgraded Cryoport from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $20.00 to $8.00 in a research report on Wednesday, August 7th. B. Riley raised Cryoport from a “neutral” rating to a “buy” rating and cut their target price for the company from $19.00 to $15.00 in a research note on Wednesday, July 31st. UBS Group decreased their price target on Cryoport from $17.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Needham & Company LLC lowered their price target on Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $11.60.

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.