Marshall Wace LLP acquired a new position in Cryoport, Inc. (NASDAQ:CYRX – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 40,828 shares of the company’s stock, valued at approximately $282,000. Marshall Wace LLP owned approximately 0.08% of Cryoport as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Comerica Bank lifted its holdings in Cryoport by 73.0% in the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock worth $62,000 after purchasing an additional 1,469 shares in the last quarter. Quest Partners LLC lifted its stake in shares of 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 purchasing an additional 10,830 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Cryoport in the second quarter valued at about $92,000. Lazard Asset Management LLC raised its stake in Cryoport by 294.3% in the first quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock valued at $95,000 after buying an additional 4,014 shares during the last quarter. Finally, NRI Wealth Management LC purchased a new position in shares of Cryoport in the second quarter worth about $132,000. 92.90% of the stock is owned by hedge funds and other institutional investors.
Cryoport Trading Up 4.6 %
NASDAQ:CYRX opened at $6.98 on Friday. The stock has a 50-day simple moving average of $8.25 and a 200-day simple moving average of $10.74. The stock has a market cap of $344.88 million, a P/E ratio of -1.90 and a beta of 1.60. Cryoport, Inc. 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 0.97, a quick ratio of 7.99 and a current ratio of 8.38.
Cryoport announced that its board has initiated a stock repurchase program on Tuesday, August 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to buy up to 49.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Insider Transactions at Cryoport
In related news, Director Ramkumar Mandalam sold 4,167 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 56,032 shares of the company’s stock, valued at $450,497.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 7,167 shares of company stock valued at $60,363. Corporate insiders own 10.10% of the company’s stock.
Analyst Ratings Changes
CYRX has been the subject of several recent research reports. Needham & Company LLC reduced their price target on Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Jefferies Financial Group lowered Cryoport from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $20.00 to $8.00 in a research note on Wednesday, August 7th. B. Riley upgraded Cryoport from a “neutral” rating to a “buy” rating and reduced their target price for the company from $19.00 to $15.00 in a research report on Wednesday, July 31st. Finally, UBS Group reduced their target price on Cryoport from $17.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Cryoport presently has a consensus rating of “Hold” and an average price target of $11.60.
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.
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