B. Riley Downgrades Cryoport (NASDAQ:CYRX) to Neutral

Cryoport (NASDAQ:CYRX) was downgraded by B. Riley from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, MarketBeat reports. They presently have a $19.00 price target on the stock, down from their previous price target of $22.00. B. Riley’s price objective suggests a potential upside of 19.12% from the stock’s current price.

Other analysts have also issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Cryoport in a research report on Thursday, April 4th. They set a “buy” rating and a $21.00 target price on the stock. Needham & Company LLC decreased their price objective on Cryoport from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. UBS Group lifted their price objective on Cryoport from $14.50 to $17.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, Stephens reiterated an “equal weight” rating and set a $17.00 target price on shares of Cryoport in a research report on Wednesday, March 13th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Cryoport currently has a consensus rating of “Hold” and an average price target of $18.25.

Cryoport Trading Down 7.1 %

Shares of Cryoport stock opened at $15.95 on Friday. Cryoport has a 1 year low of $9.00 and a 1 year high of $24.17. The company has a debt-to-equity ratio of 0.82, a current ratio of 11.73 and a quick ratio of 11.16. The business has a 50 day moving average price of $16.94 and a 200 day moving average price of $15.13. The company has a market capitalization of $784.10 million, a P/E ratio of -7.25 and a beta of 1.60.

Cryoport (NASDAQ:CYRX) last announced its earnings results on Tuesday, March 12th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.19). Cryoport had a negative net margin of 42.69% and a negative return on equity of 11.86%. The firm had revenue of $57.26 million during the quarter, compared to analyst estimates of $58.27 million. Sell-side analysts anticipate that Cryoport will post -1.42 EPS for the current fiscal year.

Insider Activity at Cryoport

In other Cryoport news, CEO Jerrell Shelton sold 2,631 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $17.54, for a total transaction of $46,147.74. Following the completion of the sale, the chief executive officer now directly owns 692,182 shares in the company, valued at $12,140,872.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Cryoport news, CEO Jerrell Shelton sold 2,631 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $17.54, for a total value of $46,147.74. Following the transaction, the chief executive officer now directly owns 692,182 shares of the company’s stock, valued at $12,140,872.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ramkumar Mandalam sold 3,217 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $14.68, for a total value of $47,225.56. Following the transaction, the director now owns 43,187 shares in the company, valued at approximately $633,985.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,940 shares of company stock worth $1,147,538. Company insiders own 10.10% of the company’s stock.

Institutional Trading of Cryoport

A number of institutional investors and hedge funds have recently modified their holdings of CYRX. BNP Paribas Financial Markets raised its position in shares of Cryoport by 155.9% during the 1st quarter. BNP Paribas Financial Markets now owns 82,653 shares of the company’s stock worth $1,463,000 after purchasing an additional 50,355 shares during the period. Conestoga Capital Advisors LLC lifted its stake in Cryoport by 1.0% in the first quarter. Conestoga Capital Advisors LLC now owns 71,417 shares of the company’s stock valued at $1,264,000 after buying an additional 690 shares during the last quarter. WCM Investment Management LLC boosted its holdings in shares of Cryoport by 41.8% during the first quarter. WCM Investment Management LLC now owns 459,492 shares of the company’s stock valued at $8,133,000 after acquiring an additional 135,401 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Cryoport during the first quarter worth about $2,905,000. Finally, Sierra Summit Advisors LLC acquired a new stake in shares of Cryoport in the 4th quarter worth about $665,000. 92.90% of the stock is owned by institutional investors and hedge funds.

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.