Cryoport, Inc. (NASDAQ:CYRX) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its stake in Cryoport, Inc. (NASDAQ:CYRX) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,683 shares of the company’s stock after acquiring an additional 1,534 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Cryoport were worth $122,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Cryoport by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,522 shares of the company’s stock worth $859,000 after purchasing an additional 1,438 shares during the last quarter. Comerica Bank boosted its position in Cryoport by 73.0% during the first quarter. Comerica Bank now owns 3,481 shares of the company’s stock worth $62,000 after acquiring an additional 1,469 shares during the last quarter. Rhumbline Advisers grew its stake in Cryoport by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 64,158 shares of the company’s stock worth $443,000 after acquiring an additional 2,086 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Cryoport by 27.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,638 shares of the company’s stock valued at $277,000 after acquiring an additional 3,400 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Cryoport by 294.3% in the 1st quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock valued at $95,000 after acquiring an additional 4,014 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Analyst Upgrades and Downgrades

CYRX has been the topic of several analyst reports. UBS Group raised their price objective on Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday. Jefferies Financial Group cut Cryoport from a “buy” rating to a “hold” rating and lowered their price target for the company from $20.00 to $8.00 in a report on Wednesday, August 7th. B. Riley raised shares of Cryoport from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $19.00 to $15.00 in a research note on Wednesday, July 31st. Finally, Needham & Company LLC decreased their target price on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.00.

Cryoport Price Performance

CYRX stock opened at $7.55 on Monday. The company has a market cap of $371.89 million, a PE ratio of -3.06 and a beta of 1.60. The company has a current ratio of 8.38, a quick ratio of 7.99 and a debt-to-equity ratio of 0.97. The stock has a 50-day moving average price of $8.19 and a two-hundred day moving average price of $10.32. Cryoport, Inc. has a 12-month low of $5.32 and a 12-month high of $20.10.

Cryoport (NASDAQ:CYRX) last issued its earnings results on Tuesday, August 6th. The company reported ($1.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($1.25). The firm had revenue of $57.60 million for the quarter, compared to analysts’ expectations of $57.65 million. Cryoport had a negative return on equity of 15.55% and a negative net margin of 76.48%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.42) EPS. As a group, research analysts predict that Cryoport, Inc. will post -1.63 EPS for the current year.

Cryoport announced that its board has initiated a share repurchase plan on Tuesday, August 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 49.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Ramkumar Mandalam sold 4,167 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $8.04, for a total value of $33,502.68. Following the transaction, the director now owns 56,032 shares of the company’s stock, valued at approximately $450,497.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 7,167 shares of company stock worth $60,363 over the last ninety days. 10.10% of the stock is owned by company 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. 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.