Allspring Global Investments Holdings LLC Acquires Shares of 164,140 Cryoport, Inc. (NASDAQ:CYRX)

Allspring Global Investments Holdings LLC bought a new position in shares of Cryoport, Inc. (NASDAQ:CYRX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 164,140 shares of the company’s stock, valued at approximately $2,905,000. Allspring Global Investments Holdings LLC owned about 0.33% of Cryoport as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. increased its stake in Cryoport by 487.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,393,156 shares of the company’s stock valued at $21,580,000 after purchasing an additional 1,156,106 shares during the last quarter. Cadian Capital Management LP increased its position in shares of Cryoport by 30.4% during the 4th quarter. Cadian Capital Management LP now owns 3,464,079 shares of the company’s stock valued at $53,659,000 after purchasing an additional 807,340 shares during the period. Massachusetts Financial Services Co. MA raised its position in Cryoport by 46.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,992,895 shares of the company’s stock worth $30,870,000 after acquiring an additional 636,395 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Cryoport by 29.9% in the 4th quarter. New York State Common Retirement Fund now owns 1,642,752 shares of the company’s stock worth $25,446,000 after purchasing an additional 378,340 shares in the last quarter. Finally, Thematics Asset Management increased its holdings in shares of Cryoport by 19.5% in the fourth quarter. Thematics Asset Management now owns 749,000 shares of the company’s stock valued at $11,602,000 after buying an additional 122,000 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Cryoport Trading Down 3.3 %

Shares of Cryoport stock opened at $6.18 on Wednesday. The stock has a market capitalization of $304.43 million, a P/E ratio of -2.50 and a beta of 1.59. The company has a 50-day simple moving average of $11.67 and a 200 day simple moving average of $14.58. The company has a quick ratio of 10.22, a current ratio of 10.73 and a debt-to-equity ratio of 0.86. Cryoport, Inc. has a 12-month low of $6.17 and a 12-month high of $20.10.

Cryoport (NASDAQ:CYRX) last announced its earnings results on Tuesday, May 7th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.06). Cryoport had a negative return on equity of 15.19% and a negative net margin of 50.17%. The business had revenue of $54.59 million for the quarter, compared to the consensus estimate of $58.78 million. During the same quarter in the previous year, the company posted ($0.16) EPS. Cryoport’s revenue for the quarter was down 13.1% on a year-over-year basis. Research analysts expect that Cryoport, Inc. will post -1.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Edward J. Zecchini sold 3,443 shares of Cryoport stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $13.37, for a total value of $46,032.91. Following the completion of the sale, the insider now directly owns 60,051 shares in the company, valued at $802,881.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Cryoport news, Director Richard J. Berman sold 8,105 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $13.41, for a total value of $108,688.05. Following the sale, the director now directly owns 100,000 shares in the company, valued at $1,341,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Edward J. Zecchini sold 3,443 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $13.37, for a total value of $46,032.91. Following the sale, the insider now directly owns 60,051 shares in the company, valued at approximately $802,881.87. The disclosure for this sale can be found here. 10.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Stephens restated an “equal weight” rating and issued a $17.00 price target on shares of Cryoport in a research report on Wednesday, March 13th. B. Riley cut Cryoport from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $19.00 in a research report on Friday, May 3rd. UBS Group upped their price target on shares of Cryoport from $14.50 to $17.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Cryoport in a research note on Wednesday, May 8th. Finally, Jefferies Financial Group initiated coverage on Cryoport in a research report on Thursday, April 4th. They set a “buy” rating and a $21.00 target price on the stock. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Cryoport has a consensus rating of “Hold” and a consensus target price of $18.25.

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.