Granahan Investment Management LLC Cuts Stock Position in Cryoport, Inc. (NASDAQ:CYRX)

Granahan Investment Management LLC lowered its holdings in shares of Cryoport, Inc. (NASDAQ:CYRX) by 38.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 355,917 shares of the company’s stock after selling 226,426 shares during the period. Granahan Investment Management LLC owned about 0.78% of Cryoport worth $8,542,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Impax Asset Management Group plc grew its stake in shares of Cryoport by 46.7% during the fourth quarter. Impax Asset Management Group plc now owns 2,484,660 shares of the company’s stock valued at $42,784,000 after buying an additional 791,037 shares during the last quarter. Thematics Asset Management purchased a new position in Cryoport in the 4th quarter worth approximately $9,525,000. Invesco Ltd. lifted its position in Cryoport by 17.7% in the first quarter. Invesco Ltd. now owns 3,228,313 shares of the company’s stock valued at $112,700,000 after purchasing an additional 485,972 shares during the last quarter. Renaissance Technologies LLC lifted its position in Cryoport by 1,965.0% in the first quarter. Renaissance Technologies LLC now owns 466,700 shares of the company’s stock valued at $16,292,000 after purchasing an additional 444,100 shares during the last quarter. Finally, Norges Bank bought a new stake in Cryoport in the fourth quarter valued at approximately $6,613,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Cryoport Stock Performance

Shares of Cryoport stock opened at $12.77 on Monday. The company has a current ratio of 14.54, a quick ratio of 13.82 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $624.20 million, a P/E ratio of -13.16 and a beta of 1.26. The business has a fifty day simple moving average of $15.02 and a two-hundred day simple moving average of $18.84. Cryoport, Inc. has a 12 month low of $12.39 and a 12 month high of $34.94.

Cryoport (NASDAQ:CYRX) last released its earnings results on Wednesday, August 9th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.17). Cryoport had a negative net margin of 16.07% and a negative return on equity of 7.23%. The business had revenue of $57.02 million for the quarter, compared to analysts’ expectations of $56.94 million. On average, equities analysts forecast that Cryoport, Inc. will post -1.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CYRX. SVB Leerink downgraded Cryoport from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 13th. BTIG Research lowered their price objective on Cryoport from $33.00 to $28.00 in a research report on Thursday, August 10th. Needham & Company LLC dropped their target price on shares of Cryoport from $30.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, August 10th. Stephens lowered shares of Cryoport from an “overweight” rating to an “equal weight” rating and set a $15.00 target price for the company. in a report on Thursday, August 10th. Finally, SVB Securities lowered shares of Cryoport from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $30.00 to $10.00 in a report on Thursday, July 13th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.78.

Insider Transactions at Cryoport

In other news, insider Jerrell Shelton sold 26,875 shares of Cryoport stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $14.27, for a total value of $383,506.25. Following the completion of the transaction, the insider now owns 632,424 shares of the company’s stock, valued at approximately $9,024,690.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 10.50% of the stock is owned by insiders.

Cryoport 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. It operates in two segments: Global Logistics Solutions and Global Bioservices. 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.