Okabena Investment Services Inc. Buys Shares of 79,072 Cryoport, Inc. (NASDAQ:CYRX)

Okabena Investment Services Inc. purchased a new position in Cryoport, Inc. (NASDAQ:CYRX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 79,072 shares of the company’s stock, valued at approximately $615,000.

Other large investors have also recently made changes to their positions in the company. Avanza Fonder AB purchased a new position in Cryoport in the 4th quarter valued at $64,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cryoport in the third quarter valued at about $82,000. Olympiad Research LP purchased a new position in shares of Cryoport in the fourth quarter worth about $103,000. Intech Investment Management LLC purchased a new position in shares of Cryoport in the third quarter worth about $105,000. Finally, Fox Run Management L.L.C. acquired a new position in Cryoport during the fourth quarter worth about $111,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Cryoport Stock Down 2.4 %

CYRX stock opened at $6.09 on Friday. Cryoport, Inc. has a one year low of $4.58 and a one year high of $20.11. The firm has a market cap of $303.95 million, a PE ratio of -1.80 and a beta of 1.67. The firm’s 50 day moving average price is $6.68 and its 200-day moving average price is $7.32. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70.

Cryoport (NASDAQ:CYRX) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.09). The business had revenue of $59.53 million during the quarter, compared to analyst estimates of $58.71 million. Cryoport had a negative net margin of 70.08% and a negative return on equity of 13.35%. During the same period last year, the company earned ($0.29) EPS. On average, equities research analysts anticipate that Cryoport, Inc. will post -0.99 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Jerrell Shelton sold 4,620 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $6.29, for a total value of $29,059.80. Following the transaction, the chief executive officer now directly owns 765,399 shares in the company, valued at approximately $4,814,359.71. This represents a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 19,830 shares of company stock valued at $118,353 over the last 90 days. 10.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group raised shares of Cryoport from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Monday, March 24th. Guggenheim initiated coverage on Cryoport in a research report on Thursday, December 19th. They set a “buy” rating and a $11.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $11.00 target price on shares of Cryoport in a report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

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.