Cryoport, Inc. (NASDAQ:CYRX) Sees Significant Decrease in Short Interest

Cryoport, Inc. (NASDAQ:CYRX) was the target of a large decrease in short interest in January. As of January 15th, there was short interest totalling 2,080,000 shares, a decrease of 5.5% from the December 31st total of 2,200,000 shares. Based on an average daily volume of 405,400 shares, the days-to-cover ratio is presently 5.1 days. Approximately 4.4% of the shares of the stock are sold short.

Insider Buying and Selling

In related news, Director Ramkumar Mandalam sold 7,369 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $7.46, for a total transaction of $54,972.74. Following the completion of the transaction, the director now directly owns 59,497 shares of the company’s stock, valued at $443,847.62. This trade represents a 11.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jerrell Shelton sold 50,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $6.51, for a total value of $325,500.00. Following the completion of the sale, the chief executive officer now owns 731,897 shares in the company, valued at $4,764,649.47. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,869 shares of company stock worth $735,673 in the last three months. 10.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cryoport

Several hedge funds have recently made changes to their positions in CYRX. Thematics Asset Management grew its position in shares of Cryoport by 176.2% in the 3rd quarter. Thematics Asset Management now owns 1,705,000 shares of the company’s stock worth $13,828,000 after buying an additional 1,087,800 shares during the period. Fred Alger Management LLC grew its holdings in shares of Cryoport by 49.9% during the third quarter. Fred Alger Management LLC now owns 2,698,768 shares of the company’s stock valued at $21,887,000 after buying an additional 898,481 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Cryoport during the third quarter valued at approximately $3,405,000. JPMorgan Chase & Co. raised its holdings in Cryoport by 1,464.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 305,237 shares of the company’s stock worth $2,475,000 after acquiring an additional 285,726 shares during the last quarter. Finally, Algert Global LLC raised its holdings in Cryoport by 282.7% in the 3rd quarter. Algert Global LLC now owns 247,483 shares of the company’s stock worth $2,007,000 after acquiring an additional 182,808 shares during the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Guggenheim initiated coverage on shares of Cryoport in a research report on Thursday, December 19th. They issued a “buy” rating and a $11.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $11.00 target price on shares of Cryoport in a report on Friday, January 17th. UBS Group increased their price target on Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Roth Mkm decreased their target price on Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.29.

Cryoport Price Performance

Shares of NASDAQ:CYRX traded down $0.16 on Monday, hitting $7.38. The company’s stock had a trading volume of 268,881 shares, compared to its average volume of 272,142. The company has a 50-day simple moving average of $7.85 and a 200 day simple moving average of $7.95. The company has a market capitalization of $364.79 million, a PE ratio of -2.18 and a beta of 1.59. Cryoport has a 1 year low of $5.32 and a 1 year high of $20.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32.

Cryoport (NASDAQ:CYRX) last issued its earnings results on Thursday, November 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.23. Cryoport had a negative return on equity of 13.35% and a negative net margin of 70.08%. The business had revenue of $56.66 million during the quarter, compared to analyst estimates of $58.13 million. During the same quarter in the prior year, the firm earned ($0.31) earnings per share. Sell-side analysts forecast that Cryoport will post -0.99 EPS for the current fiscal year.

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.