Cryoport, Inc. (NASDAQ:CYRX) Short Interest Update

Cryoport, Inc. (NASDAQ:CYRX) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 2,980,000 shares, a drop of 7.2% from the August 15th total of 3,210,000 shares. Based on an average trading volume of 832,300 shares, the short-interest ratio is currently 3.6 days. Approximately 6.3% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CYRX shares. B. Riley raised shares of Cryoport from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $19.00 to $15.00 in a research note on Wednesday, July 31st. Jefferies Financial Group lowered Cryoport from a “buy” rating to a “hold” rating and dropped their target price for the company from $20.00 to $8.00 in a research report on Wednesday, August 7th. Needham & Company LLC reduced their price target on Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, UBS Group decreased their price target on Cryoport from $17.00 to $7.00 and set a “neutral” rating for the company in a research note 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 stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $11.60.

Cryoport Trading Up 1.0 %

CYRX stock traded up $0.08 during mid-day trading on Wednesday, reaching $8.47. The company had a trading volume of 480,793 shares, compared to its average volume of 604,421. Cryoport has a 12 month low of $5.32 and a 12 month high of $20.10. The company has a market capitalization of $417.21 million, a PE ratio of -3.40 and a beta of 1.60. The firm has a 50 day moving average of $8.44 and a 200 day moving average of $11.74. The company has a debt-to-equity ratio of 0.97, a current ratio of 8.38 and a quick ratio of 7.99.

Cryoport (NASDAQ:CYRX) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($1.62) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($1.25). Cryoport had a negative net margin of 76.48% and a negative return on equity of 15.55%. The firm had revenue of $57.60 million during the quarter, compared to the consensus estimate of $57.65 million. During the same quarter in the previous year, the firm earned ($0.42) earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts predict that Cryoport will post -1.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 sale, the director now directly owns 56,032 shares of the company’s stock, valued at approximately $450,497.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 7,167 shares of company stock worth $60,363. Corporate insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On Cryoport

Several hedge funds have recently modified their holdings of CYRX. Cubist Systematic Strategies LLC bought a new position in Cryoport in the second quarter worth approximately $378,000. The Manufacturers Life Insurance Company increased its holdings in shares of Cryoport by 9.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock valued at $122,000 after acquiring an additional 1,534 shares during the period. Deerfield Management Company L.P. Series C bought a new position in shares of Cryoport in the 2nd quarter worth $207,000. AXA S.A. lifted its stake in shares of Cryoport by 274.2% during the 2nd quarter. AXA S.A. now owns 873,217 shares of the company’s stock worth $6,034,000 after purchasing an additional 639,855 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Cryoport during the second quarter valued at about $355,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

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.